Winning the gold mining competition sometimes looking for the shiny substance in what experts might not consider the most likely geographical places.
Vancouver-headquartered Orca Gold Inc. (TSX-Venture:ORG) gave small-cap investors an update Thursday on exploration at its project in the Republic of the Sudan.
In all, said the release, the company has drilled 27 holes for its feasibility study. One hole, for example, reported 41 metres, grading 7.85 grams per ton gold (g/t Au). Another reports 28 m grading 3.68g/t Au, while still another lauds results of 26 m grading 3.84g/t Au.
Orca President Hugh Stuart had reason to be excited. "Our geological understanding of the mineralization … continues to grow. There is a higher-grade core to the deposit that allows us to produce over 220 k/oz per year in the first seven years of the mine life.
"We are now targeting plunging high grade structures within this core towards increasing the overall grade of GSS. These latest drill results are the first from this initiative."
Shares of ORG took on three cents late Thursday morning, or 7.3%, to 44 cents, on volume of more than 309,000 shares.