ASX ANNOUNCEMENT27 May 200849% INCREASE IN SIHAYO 1 NORTH GOLD...

ASX ANNOUNCEMENT
27 May 2008

49% INCREASE IN SIHAYO 1 NORTH GOLD RESOURCE.
TOTAL PUNGKUT RESOURCES TOP 1 MILLION OUNCES

Highlights
�� Independent resource estimate for Sihayo 1 North increased by 49%.
�� Inferred resource base now 12.1mt @ 2.4g/t Au for 910,000 ounces of gold.
�� Combined Inferred resource at Sihayo 1 North and Sambung gold deposits
now stands at 1.01 million ounces of gold.
�� Sihayo 1 North resource remains open along north western margin.
�� Scoping Study to immediately commence for Pungkut mining development.
�� Drilling planned at both Sihayo 1 North and Hutabargot Julu to further extend
resource base.
The Directors of Oropa Limited are pleased to announce the completion of an independent JORC
Code compliant inferred resource estimate for the Sihayo 1 North deposit, part of the Company’s
75% owned Pungkut Gold Project in North Sumatra, Indonesia, of 12.1 million tonnes grading
2.4g/t gold for 910,000 ounces of contained gold – representing a 49% increase in gold
resources.
Sihaho 1 North Project:
Cut-off Grade Tonnes Grade Contained Gold
Millions g/t, Au Millions, ozs
+1.0 g/t 12.1 2.4 0.91
The resource at Sihayo 1 North remains open along the north western margin, and the Company
plans to undertake additional drilling to target possible extensions to the resource. Oropa will also
embark upon an infill drilling program to increase resource confidence to at least an Indicated
status as preparatory work continues towards a Bankable Feasibility Study.
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
Combined with the previous Sambung Resource estimate, total Sihayo 1 North/Sambung
Inferred Resources now stand at 1.01 million ounces of gold.
Table 1: Oropa Sihayo 1 North and Sambung Resources
Project
Million tonnes
Grade
g/t gold
Contained Gold
Million ounces
Sihayo 1 North
12.1
2.4
0.91
(+1.0 g/t cut-off grade)
Sambung
1.1
2.6
0.10
(+1.5 g/t cut-off grade)
Combined Inferred Resource
13.2 2.4 1.01
Oropa will immediately embark on a Scoping Study for the combined Sihayo 1 North and Sambung
deposits, and will engage the services of an independent engineering consultancy group to
conduct that study.
The Company also intends to conduct further fieldwork at Hutabargot Julu, located 5.5km
southeast of the Sihayo 1 North resource, in the coming months to undertake additional, more
intensive drilling at this epithermal vein system after the recent intersection of 5m at 35.67g/t at a
depth of 47m from surface. While the planned Scoping Study will focus solely on the Sihayo 1
North and Sambung deposits, it is intended that any future success and resource estimate at
Hutabargot Julu would be incorporated into any final mining plan for the area.
Details of independent resource estimates:
Sihayo 1 North - May 2008 ordinary kriged estimation completed by Mining Assets P/L for the
purpose of a preliminary scoping study. The estimate is based on data from 81 diamond drill holes
spaced 100m by 100m in the northern and central domains and 50m by 50m in the southern
domains. Wireframes are based on a nominal cut-off of 2m at 0.5g/t grade and were guided by
geological interpretations. Samples were composited to 2.5m and no top cut was applied.
Estimations were completed using Surpac block models with parent blocks 50m (N) by 50m (E) by
5m (RL) and sub-blocked to 12.5m (N), 12.5m (E) and 1.25m (RL). The ordinary kriged estimate
was completed in 2 runs: Run 1 parameters - hard boundaries for all objects, 200m search radius
for major axis, min samples = 3, max samples = 8; Run 2 parameters - hard boundaries for all
objects, 400m search radius for major axis, min samples = 2, max samples = 8. Bulk density for
mineralised material was 2.49t/m3.
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
Sambung - January 2007 ordinary kriged estimation completed by Mining Assets P/L for the
purpose of a preliminary scoping study. The estimate is based on data from 74 diamond drill holes
with a maximum drill density of 50m (E-W) by 25m (N-S). Wireframes were based on a nominal
cut-off of 2m at 0.5g/t grade and were guided by geological interpretations. Samples were
composited to 1.0m and top cuts of 8g/t and 15.5g/t applied to the various domains. Estimation
was completed using Surpac block models with parent blocks 25m (N) by 50m (E) by 5m (RL) and
sub-blocked to 12.5m (N), 25m (E) and 2.5m (RL). The ordinary kriged estimate was completed in
a single run using the following parameters: hard boundaries for all objects,150m search radius for
major axis, min samples = 5, max samples = 10. Bulk density of mineralised material is 2.5t/m3.
Yours faithfully
OROPA LIMITED
Philip C Christie
Director
Note 1: The information in this report that relates to exploration results, geochemical data base, quality assurance/quality control and
geological interpretation of the Sihayo 1 North and Sambung Mineral Resource is based on information compiled by Mr Dean
Pluckhahn, who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of
Geoscientists. Mr Pluckhahn is employed by Oropa Limited and has sufficient experience which is relevant to the style of
mineralisation and type of deposit 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 Pluckhahn consents to the inclusion in the report of the matters based on his information in the form and
context in which it appears.
Note 2: The information in this report that relates to the estimation of Sihayo 1 North and Sambung Mineral Resource is based on
information compiled by Mr Clay Gordon, who is a Member of The Australasian Institute of Mining and Metallurgy and the
Australian Institute of Geoscientists. Mr Gordon is employed by Mining Assets Pty Ltd and has sufficient experience which is
relevant to the style of mineralisation and type of deposit 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 Gordon consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.
Note3: 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.