VANCOUVER, BC -- 08/14/07 --
Oriental Minerals Inc. (TSX-V: OTL) is very
pleased to announce further results from the Phase 2 drill program at the
Sangdong tungsten-molybdenum project in South Korea. Highlights include:
* SD-11, averaging 207 metres @ 0.13% WO3 and 0.04% MoS2 (15-222m).
* SD-12, averaging 178 metres @ 0.09% WO3 and 0.02% MoS2 (60-231m)
(incl. 20 metres of 0.41% WO3).
* SD-08, averaging 164 metres @ 0.10% WO3 and 0.03% MoS2 (16-180m).
* SD-10, averaging 119 metres @ 0.12% WO3 and 0.01% MoS2 (8-127m).
* SD-07, averaging 191 metres @ 0.05% WO3 and 0.02% MoS2 (10-201m).
Drill holes SD-07, SD-08, SD-10, SD-11 and SD-12 reported here were drilled
up to 250 metres off of the initial fence-line of holes, as reported on
June 12, 2007.
Drilling to date at Sangdong now covers a 900 by 600 metre area, on 100 by
100 metre drill spacing. Significant widths and grades of skarn-hosted
disseminated tungsten-molybdenum mineralization have been intersected in
all drill holes to date. Drilling continues to suggest that grades increase
to the north of the drilled area, with mineralisation remaining open to the
east toward the historic Sangdong East deposit, as well as to the north and
west.
Full assay tables and a drill plan are available on the website at
http://www.orientalminerals.com/s/Drill_results.asp.
A bulk tonnage, open-pit mining operation will be evaluated with Phase 2
drilling anticipated to be completed in September. An inferred category
NI-43-101 compliant resource statement is scheduled for completion in
October 2007. Drill spacing will then close up to a 50 metre x 50 metre
drill spacing to provide a measured and indicated category NI-43-101
compliant resource statement by March 2008.
The Company currently has 7 drill rigs on site with another rig scheduled
to arrive on site next week. The current status on the Sangdong drill
program is:
SD-9. Completed at 602 metres.
SD-13. Completed at 500 metres after difficult drilling (target depth
was 700m).
SD-14. Completed at 270 metres.
SD-15. Completed at 308 metres.
SD-16. Completed at 323 metres.
SD-17. Completed at 400 metres.
SD-18. Completed at 329 metres.
SD-19. Current hole depth is 275 metres.
SD-20. Current hole depth is 518 metres.
SD-21. Current hole depth is 182 metres.
SD-22. Current depth is 152 metres.
SD-23. Current depth is 171 metres.
SD-24. Rig setting up.
SD-25. Rig setting up.
Note: Samples are 1-metre split HQ and NQ core samples and were submitted
to ALS Chemex laboratory in Brisbane, Australia and analyzed by Ore Grade
Method XRF-ME05, Au-AA21, ME-ICP41s and Ag-OG46.
Quality Control: Blanks and Standards samples were routinely inserted with
the drill samples at random intervals. Analysis of Standards indicates some
problems are occurring with 2 of the 4 Standards the Company uses for
Quality Control purposes. Two of the tungsten standards are consistently
reporting below the certified levels, the cause of which is being
investigated but believed to be related to the XRF analytical method
employed. However, the remaining two tungsten standards are all within +/-
5% of certified assays and so laboratory results are considered reliable.
Additional standards have been sourced to assist with the monitoring of
laboratory analysis.
Blank samples were clean, indicating no cross contamination in the samples.
About Oriental Minerals Inc.
Oriental Minerals is a Canadian based exploration company exploring for
world-class mineral deposits in South Korea. The Company's current projects
include tungsten-molybdenum, base metals and gold-silver properties with
significant known mineralization and excellent regional potential.
South Korea is an independent country with strong ties to the USA and a key
trading partner with Canada and Australia. The country has an excellent
infrastructure, established and workable Mining Laws, and available trained
mining workforce.
These factors combined with an in country bi-lingual team, assists OTL in
capturing a first class country-wide, diversified minerals portfolio.
QUALIFIED PERSON
This Press Release has been prepared by Vice President Exploration and
Longview Technical geologist Mr. Christopher Sennitt and the assay quality
control has been monitored by Mr. Bruce Davis of Norwest, both Qualified
Persons for purposes of this release.
On behalf of the Board of Directors,
Damien Reynolds
Chairman and Director
Statements in this news release, other than purely historical information,
including statements relating to the Company's future plans and objectives
or expected results, constitute Forward-looking statements. Such statements
are based on numerous assumptions and are subject to all the risks and
uncertainties inherent in the Company's business, including risks related
to mineral exploration and development. Consequently, actual results may
vary materially from those described in the forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
Distributed by Filing Services Canada and retransmitted by Marketwire
For More Information Contact:
Spiro Kletas
Investor Relations
604-681-5755
www.orientalminerals.com
