Gold potential grows at Oromin’s Sabodala

VANCOUVER — A rapid-fire drill campaign at Oromin Explorations’ (OLE-V, OLEPF-O) Sabodala project in Senegal continues to produce well-mineralized gold intercepts in advance of a resource estimate due out in late May.

The Sabodala concession surrounds a smaller concession where Mineral Deposits (MDM-T, MDL-A) is developing an open-pit operation to mine the 2.74-million-oz. gold resource within its Sabodala and Niakafiri deposits. Oromin’s project covers the structurally controlled extensions of those deposits, as well as numerous other gold zones.

The main focus within Oromin’s Sabodala project is Golouma, a series of structurally controlled, outcropping vein systems. The Golouma South zone is centred along a 30-km-long northeasttrending geochemical anomaly that flanks the southeast side of the extensive Golouma geochemical anomaly. Recent drill results from Golouma South include 19 metres grading 8.82 grams gold per tonne from 78 metres down-hole in hole RC-194, 18 metres of 8.41 grams gold from 120 metres in hole RC-192, and 14 metres grading 8.74 grams gold from 61 metres below surface in hole DH-192.

The Northeast zone of Golouma South is an easterly trending and south-dipping zone outlined over a 100-metre extent and to 150 metres depth, and still open in all directions. To date, the mineralized zone is narrower than other zones on the property but the grade is significantly higher. Hole DH-68 cut 1 metre grading 162.3 grams gold from 109 metres depth, hole DH-782 returned 3 metres grading 98.37 grams gold from 81 metres, and hole DH-73 cut 8 metres of 17.61 grams gold.

Oromin expects the Northeast zone will intersect the extrapolated extension of the Golouma South main zone; currently some 250 metres of untested area lies between the two zones.

At Golouma West, the zone has been traced more than 1,500 metres on surface and to over 300 metres depth, and remains open in all directions. Hole RC-216 returned 8 metres grading 14.57 grams gold from 45 metres depth; and hole DH-199 intercepted 27 metres grading 3.47 grams gold from 126 metres.

The Masato gold zone is coincident with a 2.6-km-long, 1.2-kmwide gold-in-soil anomaly roughly 1 km east of Mineral Deposit’s Sabodala operation. The mineralized structure trends northeast and dips moderately steeply to the west. Recent drill results have consistently demonstrated that mineralization at Masato is thicker than in other Sabodala zones.

Hole RC-189 cut 30 metres grading 3.33 grams gold from 87 metres depth. Hole RC-201 cut 23 metres grading 6.47 grams gold from 70 metres, followed by 20 metres of 2.59 grams gold from 96 metres and 16 metres grading 2.87 grams gold from 120 metres. And hole RC-206 hit 7 metres grading 6.29 grams gold from 97 metres depth, followed by 29 metres of 1.8 grams gold from 151 metres below surface.

Oromin’s work trenching at other gold targets on the property produced some promising results. At the Sekoto target, a 12-metre trench interval averaged 3.78 grams gold; at the Korolo target, a 13-metre trench returned 3.22 grams gold; and at the Clover Leaf zone, a 7-metre trench interval graded 6.48 grams gold. The company plans to drill these targets, among others, in the 2008 drill program.

SRK Consulting recently informed Oromin that the Sabodala resourceestimate, initially expected out in April, will not be complete until late May. SRK has been hindered of late due to the industrywide lack of technical professionals and laboratory availability.

Oromin has four drill rigs turning at Sabodala, with two more expected on site by the end of the month. The drills are advancing a 140,000-metre drill program that got under way in early January.

Oromin holds 43.5% of the Sabodala project, with an equal portion held by Saudi-controlled Bendon International. Badr Investment &Finance holds the remaining 13% of the project. The government of Senegal retains a US$6.50-per-oz. royalty on any future production and a free carried interest after repayment of capital.

Oromin and partners were initially expected to spend US$8 million on exploration by April 2007 and then complete a feasibility study by February 2008. In March, the government of Senegal gave the Sabodala partners a 20-month exploration extension. They can now drill until December 2008 and then must finalize a feasibility study within 10 months.