Oracle Mining has posted an updated diagram of all drill hole locations of these reported assay results at http://www.oracleminingcorp.com/_resources/images/2013_March_skarn.pdf.
The drilling intervals were calculated using a 1.0% copper cut-off grade and may include internal waste and accordingly are not representative of the true width of mineralized intercepts. The mineralized intercepts have been used in the model for the Mineral Resource Estimate. As the holes cut the mineralization at different angles, they all have different true widths. In general, they are estimated to be 60% to 100% of the stated interval length for Zones 1, 2 and 4. Additional drilling in Zones 5 and 6 will be needed before true thickness can be estimated. Intervals labelled "includes" are higher-grade portions of the previous listed interval. There are no drilling, recovery or other factors that could materially affect the accuracy or reliability of the data.
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 sawn in half. The sample size varies depending on the geology and the mineralization. In general, the samples are predominantly about 5 feet long. 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, or SGS Minerals Services Geochemistry in Vancouver ("SGS"), both ISO/IEC 17025 accredited laboratories. Each lab is contracted to complete all sample preparation and assaying and is independent of Oracle Mining. Samples are analyzed employing acid digestion and AA for analyses of copper, as well as fire assaying for silver and gold. For QA/QC purposes, Skyline and SGS run a series of standard and blank samples and provide the results of these assays to us. The Corporation periodically submits the pulps of the samples assayed by our primary labs to ALS Chemex Labs Ltd. in Reno, Nevada for check analysis.
Mr. Clark has verified the technical and scientific information including sampling, analytical and test data underlying the information or opinions. Verification included QA/QC procedures review, inspection of drill core and review of assay certificates. This verification was done during visits to the Oracle Ridge site and reviewing the data that was produced. In addition, a visit was made to Skyline Labs early in the drilling program.
Note: All financial information in this news release is reported in United States dollars, unless otherwise noted.
About Oracle Mining Corp.
Oracle Mining Corp. (TSX: OMN)(OTCQX: OMCCF)(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", "expects" or "does not expect", "is expected", "scheduled", "estimates", "intends", "anticipates" or "does not anticipate", "goal" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" 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 Mineral Resource estimate for the Oracle Ridge Project; the estimates of cut-off grade and the factors underlying including projected copper prices and estimated total operating costs; expected level of selectivity within underground stopes; our plans and expectations for the Oracle Ridge Project including our plans relating to completion of a further drilling program and further exploration and development of the Oracle Ridge Project; the timing or completion of any work on the Oracle Ridge Project, including timing of commencement and completion of our proposed drilling program; and our goal to expand the Mineral Resource estimate and upgrade Mineral Resources, if possible, to a higher Mineral Resource category. 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 assumptions regarding copper, base metal and precious metal prices; accuracy of Mineral Resource estimate and Mineral Resource modelling; accuracy of cut-off grade and assumptions underlying thereto, including projected copper prices and estimates of total operating costs; dilution allowance assumptions; success of future drilling programs; reliability of drilling, sampling and assay data; representativeness of mineralization; accuracy of metallurgical testwork; our ability to comply with current and future environmental, safety and other regulatory requirements and to obtain and maintain timely receipt of regulatory approvals.
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: risks relating to our estimates of Mineral Resources and cut-off grade and factors underlying, proving to be inaccurate; our dependence on the Oracle Ridge Project; 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; risk there are changes in project parameters as plans continue to be refined; risks related to the actual results of exploration and development activities; our historical experience with development-stage mining operations; changes in commodity prices, and particularly copper prices; receipt of necessary permits and licences; regulatory changes; risks related to the uncertainty of timing of events including delays in obtaining governmental approvals or financing or in the completion of project development studies; we are affected by environmental, safety and regulatory risks, including increased regulatory burdens or delays, accidents, labour disputes and other risks inherent in the mining industry; dilution to shareholders from any equity financings; the availability of capital on acceptable terms, or at all; availability of materials and equipment; lack of revenue and commercial production; increased indebtedness and events of default thereunder; competition for properties, capital, skilled personnel and resources; uninsured risks; defects in title; influence of significant shareholders; foreign operations; adequate infrastructure in the jurisdictions in which we operate; opposition to mining activities; fluctuations in currency exchange rate, as well as those factors discussed in the Corporation's annual information form dated April 13, 2012, for the year ended December 31, 2011, filed and available for review on SEDAR at www.sedar.com. 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.
Oracle Mining Corp.
604-689-9282 or Toll-free: +1-855-689-9282
Oracle Mining Corp.
Mr. Jason Mercier
Senior VP Corporate Secretary
Most Popular Stories
- Adam Levine Wins Big as 'The Voice' Crowns Champ
- Target Security Breach May Affect 40 Million Cardholders
- Archer Daniels Midland Moving HQ to Chicago
- Tyson Foods Charged With Civil Rights Violation
- 'Beyonce' Tops the U.S. Album Chart
- Bernanke Lets Congress Have It in Final Press Conference
- Texting With Vodka: Booze and Social Media Can Mix After All
- Wall Street Falls a Day After Surge
- How to Protect Yourself After Target Data Breach
- Hispanic PR Firm Launches Chicago Chapter