Orsu provides update on the talas project in the Kyrgyz Republic
Friday, May 25, 2012Orsu Metals Corporation ("Orsu", or the "Company") (TSX:OSU)(AIM:OSU), the London-based base and precious metals development and exploration company, is pleased to provide an update on its exploration programme at the Talas joint venture project in the Kyrgyz Republic (the "Talas Project").
The Company, together with its joint venture partner Gold Fields Limited ("Gold Fields"), has recommenced field exploration work at its Talas Project. Gold Fields, through its subsidiary Gold Fields Orogen Holdings BVI Limited, has a 60% interest in the Talas joint venture company (the indirect owner of the Taldybulak, Barkol, Kentash and Korgontash licenses in the Talas region of the Kyrgyz Republic), whilst Orsu retains a 40% interest in the Talas joint venture company. Gold Fields is the project manager.
Gold Fields and Orsu have agreed on a 6,000 metre drilling programme for the Taldybulak deposit ("Taldybulak") aimed at providing additional infill drilling data for the existing Taldybulak mineral resource model and testing priority targets at deeper extensions and in the immediate vicinity of Taldybulak. In preparation for the infill drilling programme, an agreement was signed with the community of Aral village to obtain local support for the drilling programme. As of 24 May 2012, 1,470 metres of diamond drilling has been completed. The drilling programme is expected to be completed during the 2012 summer season ahead of any decision regarding a potential pre-feasibility study.
Dr Alexander Yakubchuk, Director of Exploration of Orsu, commented: "The recommencement of exploration work and the drilling programme at the Taldybulak deposit are important steps designed to further improve the metal grade of the deposit as well as to test additional exploration targets."
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