Orsa Ventures Completes Tensor IP Survey at Ashby Property
05 October 2011 - 12:00AM
Marketwired
Orsa Ventures Corp. (TSX VENTURE:ORN) ("Orsa" or the "Company")
announced today that the Company has recently completed a Tensor IP
Survey on the Ashby Property and surrounding area. Preliminary data
suggests that there are at least two anomalous zones in the area of
the property.
On July 19, 2011 Orsa announced it had entered into an option
agreement with Bridgeport Ventures Inc. ("Bridgeport") whereby Orsa
can earn up to a 51% interest in Bridgeport's Ashby gold property
in Nevada (the "Ashby Property") through phased exploration
expenditures, cash payments and share issuances.
The Ashby Mine is credited with reported production of 9,000
ounces of gold between 1934 and 1937. Additional small scale mining
removed several hundred ounces per year in the 1980's and 1990's.
Gold was produced from ten steeply dipping, inclined shafts from
over several hundred metres of underground workings.
Mineralization occurs in a series of gold-bearing quartz veins
carrying free gold, pyrite and minor silver. The workings have been
mapped and sampled in some detail. Rock sampling near old workings
has demonstrated the presence of gold mineralization (up to 24 gpt
Au) as well as copper (up to 0.99% Cu) and lesser silver (up to 3.4
gpt Ag) mineralization.
While intrusive rocks have not been mapped at surface, a
previous drill hole intercepted gold-bearing, altered, iron-oxide
stained quartz monzonite 120 metres below the surface. Previous
drilling also established the downward continuity of alteration
associated with gold mineralization. The style and intensity of the
alteration zone associated with known gold occurrences suggests
that there is potential to discover a larger mineralized system on
the Ashby Property.
About Orsa
Orsa Ventures Corp. is a junior company focused on the
exploration for, and development of, gold-silver-copper properties
in the western United States.
On behalf of the Board of Directors,
Linda Thorstad, President and Chief Executive Officer
Linda Thorstad, P. Geo., a Qualified Person as defined by
National Instrument 43-101 and President and Chief Executive
Officer of the Company, has read and approved the technical
information in this news release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur, and include, without limitation, statements regarding
the Company's plans with respect to the closing of the Financing
and the use of proceeds thereof. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ materially from
estimated or anticipated events or results implied or expressed in
such forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Orsa Ventures Corp. Linda Thorstad President and Chief
Executive Officer 604.608.6680 604.558.0087
(FAX)www.orsaventures.com
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