ASX ANNOUNCEMENT 28 November 2007 FURTHER ENCOURAGING DRILL RESULTS FROM SIHAYO 1 NORTH, PUNGKUT Company Announcements Office Australian Stock Exchange Limited 4th Floor, 20 Bridge Street SYDNEY NSW 2000 Dear Sir / Madam, Please find the above letter attached. Yours faithfully, OROPA LIMITED PHILIP C CHRISTIE Director RECENT ASX ANNOUNCEMENTS 19 November 2007 Powerpoint Presentation 19 November 2007 Acquisitions of Interest Two Uranium Exploration Projects 16 November 2007 Notice of Change of Interests of Substantial Shareholder x 2 CORPORATE
ACN: 009 241 374 ASX ANNOUNCEMENT 28 November 2007 FURTHER ENCOURAGING DRILL RESULTS UPGRADE SIHAYO 1 NORTH POTENTIAL AT GOLD PROJECT HIGHLIGHTS • Drilling at Sihayo 1 North confirms potential extensions of mineralisation to the west of the known inferred Resource. • Drilling has continued further to the west with results from two additional drill holes pending. • Results to be incorporated into a revised Sihayo 1 North resource estimate to be completed in early 2008, leading into a scoping study. Diversified exploration company Oropa Limited (ASX: ORP – “Oropa�) is pleased to announce that it has received further significant assay results from the current drilling program at Sihayo 1 North, its Pungkut gold Project in Indonesia. The drilling to the west of the Inferred Resource at Sihayo 1 North is targeting high grade out-cropping jasperoid to establish the potential to increase the resource base in this direction. Currently, the Sihayo 1 North and Sambung deposits at Pungkut collectively contained Inferred Resources of approximately 710,000 ounces. Recently completed holes SHDD096 and SHDD097 indicate that jasperoid continues to the north-west from mineralisation previously encountered in the previously reported holes SHDD094 and SHDD095. Best results include: SHDD096: 17.55m @ 1.82 g/t Au from surface 2m @ 1.48 g/t Au from 19m SHDD097: 6m @ 3.66 g/t Au from 1m 13m @ 1.53 g/t Au from 15m SHDD098 : 6m @ 2.15 g/t Au from surface 25 Charles Street, South Perth WA 6151 PO Box 1013, South Perth WA 6951 Telephone: (08) 9368 4544 Facsimile: (08) 9368 4522 Web: www.oropa.com.au Email: [email protected] ACN: 009 241 374 The results from SHDD089 contain gold in regolith material. Drill hole locations and intersections are shown in Figure 1 and Table 1 attached. Drilling has also continued further to the west with results still pending for holes SHDD099 and SHDD100. The current hole (SHDD101) is designed to test the continuity of the mineralisation along strike between SHDD096 and the known Inferred Resource, for which results are also still pending. Drilling at Sihayo 1 North has focused on previously untested jasperoid outcrop. The results of this drilling program will be incorporated into a revised Sihayo 1 North resource estimate to commence in early 2008. Once the updated resource estimate is completed, the Company intends to commence a scoping study to establish the viability of bringing these resources to a mining stage. The Pungkut Gold Project is located 70km south of Oxiana Ltd’s 6 million ounce Martabe gold deposit(s) in North Sumatra. The continued success of Oropa’s drilling programs at Pungkut further enhance its international mineral project portfolio, which has recently been significantly expanded through the acquisition of uranium exploration interests in Malawi. Figure 1: Sihayo 1 North drill location plan. 25 Charles Street, South Perth WA 6151 PO Box 1013, South Perth WA 6951 Telephone: (08) 9368 4544 Facsimile: (08) 9368 4522 Web: www.oropa.com.au Email: [email protected] ACN: 009 241 374 Table 1: Sihayo 1 North Drill Hole Locations and Mineralised Intersections Notes 1 All assays were determined by 50gm fire assay with AAS finish by Intertek- Caleb Brett Laboratories of Jakarta 2 Lower cut of 1.0 ppm Au used 3 A maximum of 2m of consecutive internal waste (material less than 1.0 ppm Au) per reported intersection 4 All interval grades were calculated as a weighted average 5 All intervals reported as down hole lengths 6 Sampling regime as half core for PQ diameter core and half core for HQ diameter core 7 Quality Assurance and Quality Control (QAQC): Gold intersections reported have been verified by the company's QAQC protocols, which include routinely inserted standards. All samples from drill holes are prepared by Intertek - Caleb Brett and pulverised to 90% passing 75 microns then analysed for gold using Fire Assay methods 8 Coordinates in Sihayo Local Grid Yours faithfully, OROPA LIMITED Philip C Christie Director Note 1: It is advised that in accordance with the Australian Stock Exchange Limited Listing Rule 5.6, the information in this report that relates to Exploration Results is based on information compiled by Mr. Dean Pluckhahn, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Pluckhahn is a full time employee of Oropa Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit which is under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves�. Mr. Dean Pluckhahn consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Note 2: All statements in this report, other than statements of historical facts that address future timings, activities, events and developments that the Company expects, are forward looking statements. Although Oropa Ltd, its subsidiaries, officers and consultants believe the expectations expressed in such forward looking statements are based on reasonable expectations, investors are cautioned that such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause actual results to differ materially from forward looking statements include, amongst other things commodity prices, continued availability of capital and financing, timing and receipt of environmental and other regulatory approvals, and general economic, market or business conditions.
ORP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
