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Monday, 23rd May 2005 (4403 views)

Ovoca Resources has announced significant traces of gold and platinum have been discovered at its Russian site.<br/><br/>According to the Irish precious metals explorer the Oleninskoye prospect has an estimated gold resource of 900,000 ounces.<br/><br/>Chief executive, Barrie Oakes, told Business World: "We are delighted with these results and we are eagerly awaiting the first assays from the second phase drilling programme.<br/> <br/>"We believe that the eight platinum and gold prospects within the existing 152 square kilometre licence will add considerable value to the company."<br/><br/>Work at the site is going to be increased now that Norplat is part of the company and platinum bearing formations have already been uncovered from drilling.<br/><br/>Oleninskoye is situated in the Kolmozero-Voronya platinum and gold property in Russia.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8570877"/>

 

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