Click here to close now.


News Feed Item

Oracle Mining Reports Additional Drill Results From 2014 Drill Program

Drilling intersects 50.0 feet of 5.5% CuEQ including 9.4 feet of 11.3% CuEQ at Oracle Ridge Project

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/22/14 -- Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX:OMN)(FRANKFURT:OMC) announces additional drill results from the 2014 Drill Program.

The core holes reported in this news release were drilled from Drill Station 3 with the purpose of extending high-grade copper mineralization beyond the drilling that defines our current Mineral Resource Estimate. Until further drilling is completed and a geologic model constructed, true widths cannot be determined from the information available and all intervals reported in this news release are apparent thicknesses. All units are imperial unless otherwise noted. Highlights include:

--  OUH-63 hit moderate grades in B12 41 (Martin Formation Upper) indicating
    there is another potential copper-bearing skarn bed below the high grade
    skarn designated as B12 30. Based upon drill intersections to date
    (including from other drill holes), the high-grade copper and silver in
    B12 30 may have dimensions of 800 feet by 500 feet and is open in at
    least two directions. OUH-63 refines the Corporation's geological
    understanding and the importance of higher grade mineralization in
    extending high-grade copper mineralization beyond the drilling that
    defines our current Mineral Resource Estimate. 

--  OUH-62 assay results are low grade as drilling only hit mineralization
    on the upper 41 (Martin Formation). The Corporation's geology team
    believes drilling did not reach the mineralization in the Escabrosa
    Formation because may have been drilling parallel to the target in B12

Intervals in the table below labelled "includes" are higher-grade portions of the previous listed interval. The following tabulates the assay results obtained from the underground drilling program to date:

                                           Au    Ag                         
Drill       From      To Interval    Cu  (oz/  (oz/ CuEQ(i)                 
 Hole     (feet)  (feet)   (feet)   (%)  ton)  ton)     (%) Zone Azimuth Dip
OUH-62     155.0   159.0      4.0  0.32 0.002  0.10    0.39  B12     100   0
OUH-62     190.0   194.0      4.0  0.28 0.001  0.14    0.34  B12     100   0
OUH-63     129.5   139.0      9.5  1.32 0.007  0.35    1.55  B12     112  17
OUH-63     239.2   272.5     33.3  1.23 0.006  0.38    1.45  B12     112  17
includes   262.0   265.0      3.0  4.19 0.002  1.06    4.53  B12            
OUH-63     288.5   338.5     50.0  4.83 0.013  1.48    5.50  B12     112  17
includes   306.6   316.7     10.1  6.61 0.024  2.01    7.64  B12            
includes   326.6   336.0      9.4 10.41 0.008  2.81   11.36  B12            

(i)CuEQ - Copper equivalency has been estimated using metal pricing of $2.80 per pound of copper, $20 per ounce of silver and $1,300 per ounce of gold. Metallurgical recovery were derived from preliminary lock cycle test results and assumed to be 81% for gold and silver. The formula used is as follows: CuEQ = Cu% + ((Ag oz/t x $20 x 0.81) + (Au oz/t x $1,300 x 0.81))/$2.80/2,000 x 100.

There are no known drilling, recovery or other factors that could materially affect the accuracy or reliability of the data. Oracle Mining has posted an updated diagram of all drill hole locations of these reported assay results at

The assay results reported today are the final results received following Oracle Mining's announcement earlier in May to temporarily suspend the 2014 Drill Program, reduce expenditures and manage remaining financial resources while evaluating Third Party Options and continuing to advance permitting.

Data Verification

The drill program and sampling protocol were managed by qualified persons employed by Oracle Mining. The Corporation maintains a rigorous QA/QC protocol on all aspects of sampling and analytical procedure. Drill core is checked, logged, marked for sampling and split in half. The sample length varies depending on the geology and the mineralization. In general, the samples are about 5 feet long. Drill core recovery was excellent and exceeded 90 per cent. One-half of each drill core is maintained for future reference and one-half of each drill core is sent for analysis. Half-core samples are shipped to Skyline Assayer and Laboratories ("Skyline"), in Tucson, Arizona, an ISO/IEC 17025 accredited laboratory. Skyline is contracted to complete all sample preparation and assaying and is independent of Oracle Mining. Samples are analyzed employing acid digestion and Atomic Absorption for analyses of copper, as well as fire assaying for silver and gold. For QA/QC purposes, Oracle Mining inserts standard reference materials and blank samples into each sample batch submitted for assay to monitor laboratory performance. The Corporation periodically submits the pulps of the samples assayed by its primary lab to ALS Chemex Labs Ltd. in Reno, Nevada for check analysis.

Kevin Francis RM SME, Vice President Technical Services of Oracle Mining, a non-independent "qualified person" within the meaning of NI 43-101, has reviewed and approved the scientific and technical information included in this news release.

About Oracle Mining Corp.

Oracle Mining Corp. (TSX:OMN)(FRANKFURT:OMC) is a Vancouver, Canada-based corporation that is the sole owner and operator of Oracle Ridge Mining, LLC and the Oracle Ridge copper project located 24 km northeast of Tucson, Arizona. Oracle Mining is managed by an experienced team of mining professionals with extensive operating and financial experience.

Cautionary Note Regarding Forward-Looking Information

Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and Oracle Mining does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Corporation's expectations or beliefs regarding future events. In certain cases, forward-looking information can be identified by the use of words such as "plans", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may" or "could" or the negative of these terms or comparable terminology. Examples of forward-looking information in this news release include, but are not limited to, statements with respect to: our plans and expectations for the Oracle Ridge Project, including any extension of copper bearing mineralization beyond the current Mineral Resource Estimate, and the timing or completion of any work on the Oracle Ridge Project. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to: our ability to successfully raise capital and re-start rehabilitation, drilling and exploration activities at the Oracle Ridge Project.

By its very nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by forward-looking information. Such factors include, but are not limited to: risk that we are unable to enforce our legal rights under existing agreements, permits or licences or are subject to litigation or arbitration that has an adverse outcome, including results of operations, our mining and project development operations or our current or potential financing arrangements; risk that we are unable to obtaining financing or are substantially delayed in obtaining financing, as well as those factors discussed in the section entitled "Risks and Uncertainties" in the Managements' Discussion and Analysis for the year ended December 31, 2013 and discussed in the Corporation's annual information form dated March 31, 2014, for the year ended December 31, 2013, filed and available for review on SEDAR at Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem"...
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company In the past, he was co-founder of social-trading platform Currensee, which...
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content. Join @ThingsExpo conference chair Roger Strukhoff (@IoT2040), June 7-9, 2016 in New York City, for three days of intense 'Internet of Things' discussion and focus, including Big Data's indespensable role in IoT, Smart Grids and Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) IoT's use in Vertical Markets.
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application del...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...