Oropa announced a very detailed quarterly, here are some very significant key points made:
INDONESIA GOLD
�� Revised resource estimate for Sihayo 1 North nearing completion and to be released in May, 2008
�� Mining scoping study for Sihayo 1 North and Sambung planned for mid-May, 2008
�� Massive silica–breccia-quartz veining intersected over 71m interval in deeper drilling at Sarahan vein, Hutabargot Julu will require follow up drilling.
*In addition to the resource estimate, a review will be conducted into determining the drill density required for a drill-out of the two resources, which will enable a costing and timetable to be generated to advance the project to Bankable-Feasibility Study.
*Based on work undertaken to date, the Sarahan vein is the most substantial vein within the prospect area, interpreted to be over 3 km in length, with exposures in outcrop and historic Dutch exploration adits 5-10 metres wide. Significant gold grades have been returned from many rock and channel chip samples. These factors contribute towards Sarahan being regarded as the primary target for deep high-grade gold.
MALAWI URANIUM & BASE METALS
�� Positive results have been obtained from geochemical exploration surveys conducted towards the end of 2007 at the Mzimba Northwest and Chitunde Project areas in Malawi. Detailed results to be announced in early May
*Additionally, Globe Uranium Ltd (“Globe”) has recently completed a highly successful scoping study of its Kanyika multi element uraniumniobium- tantalum-zirconium deposit in central Malawi, where Oropa holds an Exclusive Prospecting Licence (“EPL”) adjacent to Globe’s Kanyika EPL.
*OEPL(OROPA) now has an office and transit base in Lilongwe and has stocked necessary field supplies for exploration campaigns this field season. The Company is presently recruiting a competent geologist to establish an operational base in Malawi and oversee operational activities during the current field season.
*Encouraging results from limited exploration programs conducted throughout the country to date exhibit the potential of Malawi and the Company expects that its forthcoming programs in 2008 will be rewarding.
COAL INDONESIA
During the quarter, the Company aggressively pursued a number of coal projects in Kalimantan, and more recently in Sumatra, Indonesia in its quest to source a bona fide coal project in Indonesia (geographically compatible with Pungkut). Indonesia has become a substantial global producer of coal and Oropa is utilising its inherent knowledge to source and hopefully acquire an advanced coal project that could be rapidly developed to production, principally to fund the development of the Pungkut gold project.
ORP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
