By Business Wirevia The Motley Fool
Filed under: Investing
Oraco Resources, Inc. Update on Drilling in Boroma
ROCHESTER, N.Y.–(BUSINESS WIRE)– Oraco Resources, Inc. (ORAC) (the “Company” or “ORACO“) is pleased to report an update on activities and progress at its Boroma, Sierra Leone mining concession. This 10 acre concession is located just outside of Koidu in the Kono district. As relayed by the head of operations in Sierra Leone, Honorable Ansumana Kaikai, workers placed drag lines in the river at the site, diverting its flow towards the granite riparian area, exposing the loam in riverbed, which appears to have encouraging signs of potential product recovery. Over the past few weeks, an estimated 50 tons of gravel have been removed from the riverbed, and the workforce has been increased in an effort to stockpile as much gravel as possible before the rainy season, after which the main focus will be on wash the gravel. For only two days, some extremely limited washing was done. Honorable Ansumana Kaikai reports that, while no large stones were recovered, this confined sampling did contain a few smaller stones, raising the hope of advantageous results.
Brad Rosen, President of Oraco, stated that “Our focus right now is to remove as much gravel as possible before the rainy season comes and we lose access to the riverbed. We will secure the material until after the rainy season, when we will begin washing in earnest. The quick sampling that was done, though not statistically significant, makes us excited about the possibilities.”
About Oraco:
Oraco Resources, Inc. (ORAC.QB) is a mineral exploration and development company engaged principally in the exploration for and development of diamond deposits. Oraco, as a result of the acquisition of Jyork Industries, Inc., Ltd., is looking to develop diamond properties that hold the greatest potential into a portfolio of high value assets located within Africa. To date, Oraco has secured a series of alluvial and eluvial assets which its exploration and development teams are working on to expand operations in Sierra Leone in a conservative manner, building a solid foundation to support any expansion. For more information, visit Oraco’s website at www.oracoresourcesinc.com.
FORWARD LOOKING STATEMENT:
This press release contains forward looking statements pursuant to the “safe harbor” provisions of the Private Securities Litigation Act of 1995. These statements include risks and uncertainties that may cause the Company’s plans to change and are in no way intended to guarantee that the Company will be successful in executing its plans. Oraco Inc., common stock currently trades on the over the counter under the symbol ORAC. This press release in
From: http://www.dailyfinance.com/2013/04/11/oraco-resources-inc-update-on-drilling-in-boroma/
