ORD: Laos Feasibility Summary
Laos Project Feasibility Study Update: July 2010
Ord River Resources Limited (ORD) is pleased to provide shareholders and the market with a further update on the Laos Project. ORD holds a 49% interest in Sino Australian Resources (Laos) Co., Ltd (“SARCO”), a joint venture company between ORD and China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd (“NFC”). SARCO contracted Sinomine Resource Exploration Co., Ltd (“Sinomines”) to carry out a feasibility study valued at A$5.3million. Summary of Field Work ORD is pleased to report that field work for tenement LSI has been completed.
Sinomines has completed drilling a total of 1,195 holes with 9,387.56 meters in depth. 1,012 holes with 8,072.39 meters in depth were drilled in LSI. Yuqida has had 183 holes drilled so far with 1,315.17 meters in depth.
8,722 samples of rock core have been collected so far. Extensive geological and mapping work has also been completed. 352.25ha of land has been cleared of UXO to support the field work.
This is a large amount of work completed in a short period of time since commencement of feasibility study in early March. Sinomines will now focus on completing all the necessary drilling analysis, core sampling, geological mapping, detailed analysis and preparation work during the wet season which just commenced. Sinomines has halted field work and returned majority of its field staff to China. Sinomines will return to Laos to complete field work as soon as the wet season finishes in late 2010. Managing Director, Peter Shou said, “We thank Sinomines for its hard work and look forward to continuing the field work after the wet season. We are confident that there will be positive results derived from such an extensive work program.
We hold a firm belief in the tremendous value the Laos project will deliver to all stakeholders. We will continue to work hard with our JV partner NFC to advance the project to the next stage for investment and development. We look forward to updating our shareholders and the market further.” Weekly Update The following table summarises what has been completed in the previous week by Sinomine. If you have any questions please contact Frank Zhu, Head of Corporate Development via investor.relations@ord.com.au. Frank Zhu, CFA Head of Corporate Development Ph: 61 2 9250 1848.
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