Gold Price$US 1246.31
TSX.V: ORG$0.390

2013

September 12, 2013

Orca Gold Targets Maiden Resource at Galat Sufar South

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2013) - Orca Gold Inc. (TSX VENTURE:ORG) ("Orca" or the "Company") is pleased to report the successful completion of the second drilling campaign of an initial exploration program at the Galat Sufar South ("GSS") prospect on its Block 14 mineral license in Sudan.

Based on the results of a comprehensive analysis of the initial exploration programs at GSS the Board of Directors has approved:

  • an exploration budget aimed at delineating an NI 43-101 compliant initial resource at GSS by the end of the first quarter of 2014; and
  • the second required option payment to increase Orca's interest in the Block 14 license to 52.5%.

On September 9, 2013, Orca made a second option payment of US$3 million to its joint venture partner. This payment increases Orca's interest in the joint venture company, Meyas Sand Minerals Co. Ltd ("MSMCL") from 35.0% to 52.5%. Orca must make a final option payment of US$3 million by September 20, 2014 to retain and increase its interest in MSMCL to 70%.

Results from the second drilling campaign at GSS continue to exhibit wide intercepts and excellent grades (eg: holes GSDD004: 59m @ 2.43 g/t, GSRC161: 26m @ 3.78 g/t, GSDD008: 48m @ 2.26 g/t, GSRC174: 32m @ 6.63 g/t). The entire results are set out in Schedule A to this release and in full represent 5,897 metres of drilling completed since the last exploration update (News Release: May 16, 2013). A total of 15,940 metres of drilling (13,790m of RC and 2,150m diamond) has been completed to date at GSS. For ease of reference, the results reported previously are attached as Schedule B. The Orca exploration team is extremely encouraged by the consistent widths of high grade material being intersected.

Mineralization at GSS is hosted in and is typical of structurally controlled, mesothermal, shear zone hosted gold systems. The geology is dominated by calc-alkaline volcaniclastics which are in places interbedded with marls and dolomites and intruded by small, syenite and granite stocks. The dominant alteration associated with gold mineralisation is sericite + silica +/- carbonate. Pyrite is the main sulphide present.

Mineralisation is divided into two domains. The Main Zone is a N-S and NW trending series of mineralized bodies associated with intense shearing and quartz sericite alteration. The East Zone is 500m east of Main Zone where broad zones of ENE trending mineralisation have been intersected in an area of similar alteration with small, brecciated granitic stocks. The gap area between the Main and East Zones remains substantially untested. This gap, like much of the area around GSS is under sand cover. To date exploration at GSS has focused on outcroppings and extensions thereof. There remains a wider area of alteration (as mapped by geophysics) and prospective geology around GSS, much of it under sand cover that is highly prospective and still to be explored. Part of the next seven month work program will be aimed at testing the gap and other covered areas.

The excellent results of the just completed exploration program, including an assessment of the future potential of GSS, was the basis for a positive recommendation by Orca's management to its Board to carry out a second, aggressive, exploration program. This $7 million program will include:

  • ~18,000 metres of infill drilling aimed at delineating an NI 43-101 compliant initial resource at GSS by the end of Q1 2014
  • An additional 10,000 metres of drilling targeted at areas outside the contemplated initial resource area
  • Metallurgical testwork on composite samples from GSS
  • Baseline environmental work
  • Initial hydrological studies
  • Scoping level engineering for indicative operating and capital costs

Simon Jackson, President & CEO, said, "We are very excited by the discovery of GSS and its potential. Exploration to date indicates solid widths to the mineralization accompanied by significant grade. Our internal review of results from our first program provides a compelling basis for increasing our interest in Block 14 and advancing our pace of exploration. Our initial entry into Block 14 was always with the objective of finding a deposit that is capable of becoming a commercial mining operation, and we believe that GSS is showing early signs that it has real potential to fulfill that objective."

About Orca

Orca Gold Inc. is a Canadian resource company focussed on exploration opportunities in Africa. The Company has an experienced board of directors and management team and a strong balance sheet that includes over $50 million in cash.

The technical contents of this release have been approved by Stuart Mills, BSc., MSc, a Qualified Person pursuant to NI-43101. Mr. Mills is the Sudan Manager of the Company and a Member of the Institute of Materials, Mining and Metallurgy. Samples used for the results described herein are prepared and analyzed by fire assay using a 50 gram charge at the ALS Chemex facility at Rosia Montana in Romania in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted.

On behalf of the Board of Directors:

Simon Jackson, President, CEO and Director

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "expect", "intend", "estimate", "forecast", "project", "budget", "schedule", "may", "will", "could", "might", "should" or variations of such words or similar words or expressions or statements that certain events "may" or "will" occur. Forward-looking statements in this press release include, but are not limited to, statements relating to the plans of the Company to delineate an NI 43-101 compliant resource and increase its ownership in Block 14 and the future potential of GSS to become a commercial mining operation, including exploration activities. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company's projections and estimates; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of gold; the demand for gold; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner;
the ability to operate in a safe, efficient and effective manner; the expected timing, costs, and results of a PEA; the expected burn rate; the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not undertake any obligation to update forward-looking information if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Appendices

1. Map showing the interpreted zones

To view accompanying map, visit the following link: http://file.marketwire.com/release/orca0912.jpg

Schedule A - results from second drilling campaign
New Main Zone Drill Intercepts
Hole Type From To Metres Au g/t Uncut Au g/t Cut
to 10g/t
GSDD004 DD 111 118 7 1.06
128 187 59 2.43 1.99
194 226 32 1.53
235 241 6 1.84
267 273 6 1.44
GSDD005 DD 144 167 23 2.44
173 196 23 4.60 4.55
202 209 7 4.60 4.54
271 277 6 2.58
280 290 10 1.52
GSDD006 DD 22 26 4 0.6
36 54 18 1.29
57 62 5 1.22
73 78 5 0.65
119 125 6 2.52
154 158 4 1.03
GSRC099 RC NSI
GSRC100 RC 24 27 3 1.25
29 32 3 1.03
GSRC101 RC 98 115 17 3.18
GSRC102 RC 1 8 7 1.42
14 22 8 1.28
197 201 4 3.91
212 218 6 2.60
GSRC103 RC 9 25 16 8.47 5.57
GSRC104 RC 11 26 15 2.14
GSRC105 RC 120 125 5 1.88
GSRC106 RC 12 38 26 2.81
74 83 9 1.72
GSRC107 RC 88 91 3 0.79
93 100 7 1.01
113 116 3 1.16
127 130 3 0.70
139 149 10 1.11
160 164 4 0.66
277 294 17 3.11
GSRC138 RC 19 31 12 1.65
35 49 14 11.20 8.32
64 70 6 1.93
GSRC139 RC 53 56 3 4.13
61 64 3 2.84
69 72 3 12.57 7.59
116 120 4 2.29
GSRC140 RC NSI
GSRC141 RC NSI
GSRC142 RC NSI
GSRC143 RC 107 114 7 1.01
GSRC144 RC 1 4 3 1.90
GSRC145 RC NSI
GSRC146 RC NSI
GSRC161 RC 40 48 8 0.58
78 104 26 3.78 3.19
106 115 9 2.66
GSRC183 RC 33 36 3 1.51
51 54 3 2.31
63 70 7 9.67 7.65
120 128 8 1.39
GSRC184 RC 60 88 28 2.44 2.26
GSRC185 RC NSI
GSRC186 RC 4 18 14 1.10
GSRC187 RC 44 48 4 1.25
GSRC188 RC 55 58 3 0.76
Note: True widths are in general 50-70% of intercept width. The reported intercepts were determined using a cut-off grade of 0.50g/t with a maximum of 3m internal dilution being incorporated into the intercept where appropriate.
New East Zone Drill Intercepts
HoleTypeFromToMetresAu g/t UncutAu g/t Cut
to 10g/t
GSDD007ADD394450.91
6284221.77
124135110.85
13814350.78
149164150.73
198210120.85
32432731.13
34935341.14
36536944.554.28
GSDD008DD010101.70
1627111.61
293340.91
3648121.24
606551.67
69117482.26
12513161.18
17918340.56
18819241.20
20321071.53
216232161.50
242256141.20
259278192.83
28629371.87
296329330.57
331351201.57
GSRC085RC394451.28
495341.63
GSRC086RC859491.46
GSRC087RC10210531.07
GSRC088RC035351.78
384461.05
4792451.01
95120252.14
GSRC089RCNSI
GSRC090RCNSI
GSRC091RC666931.29
GSRC092RCNSI
GSRC093RCNSI
GSRC094RC10110651.47
GSRC095RC949733.07
11712031.67
GSRC096RC7692161.02
GSRC097RC354050.75
GSRC098RC0440.84
4260181.66
707771.20
818541.74
12313291.00
GSRC108RC315121.14
333962.18
4663177.445.12
83112294.033.98
GSRC109RC113119610.524.46
122156342.752.62
GSRC110RCNSI
GSRC111RC71032.20
889352.78
10510831.08
11011331.25
GSRC112RC111101.07
485240.71
586241.14
11011550.52
GSRC113RC757941.11
94108140.84
GSRC114RC11812460.78
GSRC115RC5161100.74
828640.73
GSRC116RC0331.57
303330.58
354381.90
647280.66
GSRC117RC126251.56
384571.18
545840.97
606552.06
GSRC118RC115125100.97
GSRC119RC884761.02
89108191.14
11111874.514.11
12012882.87
13013551.00
GSRC147RCNSI
GSRC148RCNSI
GSRC149RCNSI
GSRC150RC151942.17
GSRC151RC495230.95
7892141.55
GSRC152RC2861.30
546060.88
737741.63
11812131.30
14514940.74
GSRC153RCNSI
GSRC154RC899344.93
11612041.79
GSRC155RC1872.03
GSRC156RCNSI
GSRC157RCNSI
GSRC158RCNSI
GSRC159RC101553.12
GSRC160RC1323101.89
283131.03
323531.69
10811130.90
GSRC171RC465150.98
727970.76
GSRC172RC3632.66
3760231.50
646731.00
707440.66
778361.70
869040.53
93104110.72
GSRC173RC946372.42
GSRC174RC1431.47
141732.54
2637112.06
108140326.633.07
GSRC175RC525750.93
6173122.83
114137233.802.95
GSRC176RC1870.60
3558231.46
626641.18
747731.03
8092120.89
95109141.05
GSRC177RC013131.59
1747302.16
49122731.59
GSRC178RC1842240.88
455490.76
GSRC179RC606332.41
11011440.68
12613150.91
13413732.16
15215535.47
GSRC180RC7181101.45
8899111.11
GSRC181RCNSI
GSRC182RC7694181.32
10010331.34
13313741.35
Note: True widths are in general 50-70% of intercept width. The reported intercepts were determined using a cut-off grade of 0.50g/t with a maximum of 3m internal dilution being incorporated into the intercept where appropriate.
Schedule B - results from previous drilling campaigns
MAIN ZONE
Hole Type From To Metres Au g/t Uncut Au g/t Cut
to 10g/t
GSDD001 DD 80 161 81 1.22 1.22
GSDD002 DD 11 31 20 1.88 1.88
35 74 39 3.19 2.74
77 98 21 1.36
136 148 12 0.80
161 174 13 1.74
210 222 12 1.64
GSDD003A DD 241 251 10 1.97
298 311 13 2.07
322 352 30 1.38
GSRC001 RC 26 85 59 2.67
94 120 26 2.48
GSRC002 RC 5 21 16 5.02 3.59
42 49 7 1.17
54 95 41 2.30
GSRC003 RC 0 10 10 4.61 4.24
27 36 9 5.42 4.13
101 120 19 13.60 6.39
GSRC004 RC 68 77 9 1.21
86 121 35 1.42
GSRC005 RC 21 25 4 1.02
29 38 9 0.68
GSRC006 RC 18 25 7 13.18 6.99
110 120 10 2.77 2.61
GSRC007 RC 8 15 7 2.64
68 78 10 1.13
GSRC008 RC 12 18 6 1.92
81 99 18 0.86
GSRC009 RC 4 8 4 0.49
11 16 5 2.01
19 24 5 6.63
77 84 7 1.92
GSRC010 RC 23 34 11 0.65
GSRC032 RC 3 12 9 2.79
GSRC033 RC 6 11 5 1.36
132 138 6 1.66
GSRC034 RC 33 38 5 0.98
GSRC035 RC NSI
GSRC081 RC 32 35 3 1.41
52 71 19 15.29 6.24
77 80 3 3.62
98 101 3 12.36 7.70
136 144 8 6.12 5.35
149 159 10 1.79
162 187 25 7.60 6.30
GSRC082 RC 1 5 4 3.47
9 57 48 1.79
62 68 6 0.94
71 85 14 15.78 6.01
87 95 8 1.10
97 101 4 2.26
109 116 7 1.33
152 165 13 1.76
GSRC083 RC 69 81 12 1.97
157 168 11 1.31
Note: True widths are in general 50-70% of intercept width. The reported intercepts were determined using a cut-off grade of 0.50g/t with a maximum of 3m internal dilution being incorporated into the intercept where appropriate.
East Zone
Hole Type From To Metres Au g/t Uncut Au g/t Cut
to 10g/t
GSRC011 RC 0 35 35 3.65 3.6
47 51 4 0.56
57 72 15 3.27 3.03
76 79 3 1.4
GSRC012 RC 0 63 63 2.39 2.03
66 84 18 0.76
89 94 5 2.61
99 106 7 0.84
GSRC013 RC 0 16 16 1.85
97 101 4 0.93
GSRC014 RC 31 39 8 5.15 4.55
45 56 11 1.57
120 133 13 0.8
GSRC015 RC 11 15 4 1.09
19 30 11 2.49 2.09
35 47 12 1.23
54 59 5 0.9
99 107 8 0.75
GSRC016 RC 53 60 7 2.18
GSRC017 RC 36 47 11 0.92
123 140 17 2.58
GSRC018 RC 23 27 4 1.07
43 49 6 1.76
51 57 6 1.06
66 79 13 0.98
GSRC019 RC 7 11 4 3.02
43 48 5 1.36
55 59 4 0.69
86 90 4 0.74
GSRC020 RC 5 9 4 0.8
17 21 4 1.54
26 39 13 1.46
100 103 3 3
GSRC021 RC 1 4 3 0.96
7 39 32 1.45
44 48 4 1.57
57 65 8 1.71
80 87 7 2.33
93 98 5 2.8
GSRC022 RC 1 15 14 2.15
GSRC023 RC 0 52 52 1.9
62 67 5 0.97
70 81 11 1.01
83 109 26 1.07
112 120 8 2.06
GSRC024 RC 13 16 3 0.97
19 36 17 7.46 6.9
40 58 18 1.33
GSRC025 RC NSI
GSRC026 RC NSI
GSRC027 RC 8 28 20 2.08
45 56 11 2.02
98 104 6 2.03
127 134 7 0.71
GSRC028 RC 22 27 5 0.58
45 48 3 0.64
50 63 13 2.25 1.75
70 75 5 0.83
GSRC029 RC NSI
GSRC030 RC 92 95 3 11.43 7.08
GSRC031 RC 8 15 7 0.72
GSRC084 RC 16 28 12 0.68
108 111 3 1.08
114 118 4 4.67
121 126 5 2.82
129 132 3 0.81
137 140 3 1.45
152 157 5 0.61
169 187 18 3.36 3.15
197 202 5 0.87
219 224 5 0.76
228 243 15 1.09
Note: True widths are in general 50-70% of intercept width. The reported intercepts were determined using a cut-off grade of 0.50g/t with a maximum of 3m internal dilution being incorporated into the intercept where appropriate.
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