Orsa Reports Positive Assay Results at Quartz Mountain Property
17 January 2013 - 2:52AM
Marketwired Canada
Orsa Ventures Corp. ("Orsa" or the "Company") (TSX VENTURE:ORN) is pleased to
announce further positive confirmatory drill results at its wholly-owned Quartz
Mountain Property, in Lake County, Oregon, USA.
Drill core from the 2004 and 2009 drill campaigns was relocated to Orsa's new
office and core logging facility in the town of Lakeview. Given the focus of the
previous operators on high grade vein systems for those drill programs, the
majority of the core was not split, logged, nor assayed.
Orsa's immediate priorities include the detailed logging and sampling for gold
assay and for geochemistry of the nine diamond drill holes on Crone Hill and
Quartz Butte domes comprising the Quincy Drilling Campaign of 2004. In total,
Quincy drilled three holes on Crone Hill for 2,377 feet (724.5 metres ("m")),
and six holes on Quartz Butte for 5,789 feet (1764.5 metres).
The Crone Hill and Quartz Butte domes contain a 2.85 million ounce Inferred gold
Resource (110,448,000 tonnes grading 0.80 grams per tonne ("g/t") gold) with
excellent exploration upside. That resource is based on 263,000 feet (80,000
metres) of drilling completed in the 1980's.
Orsa is pleased to report that all holes intercepted anticipated gold
mineralization as modeled with highlights as follows:
Highlights include:
Hole QM-725 returned a weighted average of 29 m of 0.92 g/t Au;
Hole QM-728 returned a weighted average of 15.2 m of 0.74 g/t Au, and 44.2 m of
1 g/t Au;
Hole QM-729 returned a weighted average of 51.8 m of 1.13 g/t Au; and
Hole QM-730 returned a weighted average of 45.7 m of 0.88 g/t Au.
Assays for these drill holes are as shown in the attached table.
Reported intervals must be at least 1.5 meters wide; drill hole intercepts are
reported at a 0.2 g/t Au cutoff or a 0.4 g/t Au cutoff. Intervals contain no
more than four low-grade to barren samples between mineralized samples
containing over 0.2 g/t Au or intervals contain no more than two low-grade to
barren samples between mineralized samples containing over 0.4g/t Au.
Orsa Ventures utilizes a comprehensive QA/QC program consisting of blanks, drill
rig sample duplicates and reference samples to ensure best practices are
followed and the data collected is of the highest quality. All samples were
prepared to normal industry standards and assayed for gold by Fire assay with AA
finish by Als Chemex of Reno accredited to ISO/IEC 17025-2005 standards to
provide complete assurance regarding quality performance in every aspect of
their network. Intercepts are close to true thickness.
Table 2 Assay Results (see Map 1 below)
--------------------------------------------------------------------------
Interval
Azimuth Dip From To (1) Au (2)
Hole # East North (degrees)(degrees)(metres) (metres) (metres) (g/t)
--------------------------------------------------------------------------
QM-725 1921055 239932 350 -70 77.7 106.7 29 0.92
--------------------------------------------------------------------------
137.2 176.8 39.6 0.26
--------------------------------------------------------------------------
QM-726 1921065 239831 292.6 -82 88.4 117.4 29 0.33
--------------------------------------------------------------------------
131.1 161.5 20.4 0.29
--------------------------------------------------------------------------
182.9 207.3 24.4 0.37
--------------------------------------------------------------------------
219.3 221 1.7 0.49
--------------------------------------------------------------------------
QM-728 1920562 239981 105 -48 85.3 100.6 15.2 0.25
--------------------------------------------------------------------------
143.3 149.4 6.1 0.53
--------------------------------------------------------------------------
167.6 182.9 15.2 0.74
--------------------------------------------------------------------------
195.1 239.3 44.2 1.0
--------------------------------------------------------------------------
254.5 257.6 3.1 0.77
--------------------------------------------------------------------------
266.7 274.3 7.6 0.63
--------------------------------------------------------------------------
--------------------------------------------------------------------------
QM-729 1920645 240205 120 -57.5 44.2 332.8 288.7 0.57
--------------------------------------------------------------------------
Include 268.2 320.0 51.82 1.13
--------------------------------------------------------------------------
QM-730 1920646 240205 98 -59.7 57.9 103.6 45.7 0.88
--------------------------------------------------------------------------
112.8 132.6 19.8 0.45
--------------------------------------------------------------------------
253.0 283.5 30.5 0.63
--------------------------------------------------------------------------
--------------------------------------------------------------------------
QM-732 1921283 240334 128.4 -67.2 64.0 128.0 62.5 1.14
--------------------------------------------------------------------------
149.4 179.8 30.48 0.52
--------------------------------------------------------------------------
Assay
pending
--------------------------------------------------------------------------
Please click the following link for the drilling map and sections
http://www.slideshare.net/slideshow/embed_code/16010944
Bruno Barde P. Geo. manages Orsa's exploration and development programs at
Quartz Mountain and is the Qualified Person as defined by National Instrument
43-101. He supervised the preparation of the technical information in this
release.
About Orsa
Orsa Ventures Corp. is a junior development company focused on the exploration
for, and development of, gold-silver-copper properties in the western United
States. In addition to the Quartz Mountain Property, Orsa recently announced the
discovery of significant sediment-hosted gold system at its Coal Canyon Property
in the Oreana Mining Trend, Nevada, where over 10 million ounces has been
discovered since 2009. The Company also has the right to earn a 51% interest
Ashby Property, a former gold producer and porphyry copper-gold target, located
in the Walker Lane Mining Trend, host to several large copper and gold deposits
in Nevada.
On behalf of the Board of Directors,
Linda Thorstad, President and Chief Executive Officer
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Orsa Ventures Corp.
Linda Thorstad
President and Chief Executive Officer
604.608.6680
604.558.0087 (FAX)
www.orsaventures.com
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