VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - Orsa Ventures Corp. ("Orsa" or the "Company") (TSX VENTURE:ORN) announced today that the Company has received approval from the Bureau of Land Management for a Phase Two trenching program at its Coal Canyon Property ("Coal Canyon") in Pershing County, Nevada.
On May 1, 2012 Orsa announced that it had made a new gold discovery at Coal Canyon which is located in the Oreana Mining Trend. The Company also announced a lease agreement with New Nevada Lands and New Nevada Resources for two adjacent sections along the projected strike of the Coal Canyon discovery.
Approximately 3,000 feet of new road were constructed at Coal Canyon to provide access to some of the mineralized zones and to expose altered bedrock for sampling. Trenching exposed an altered and mineralized contact between intrusive and sedimentary rocks. One of the sampled zones comprising a continuous group of eighteen samples from a strongly altered zone of calcareous siltstone averaged 0.015 oz. Au/ton over a distance of 142 feet (0.520 grams Au/tonne over 43.3 metres). Greater than 0.029 oz. Au/ton (1 gram Au/tonne) values have been found in a 5,800 foot-long, northwest-trending zone that is up to 500 feet wide. This zone contains anomalous arsenic and antimony values.
Coal Canyon is located within the Oreana Mining Trend where over 10 million ounces of gold have been discovered since 2009. Gold deposits in the trend include Rochester, Unionville, Relief Canyon, Spring Valley, Willard and Colado. Gold mineralization at Coal Canyon is hosted in calcareous sediments of the Auld Lang Syne Group which is the same host rock as most of the reported deposits in the Trend.
Orsa Ventures Corp. is a junior company focused on the exploration for, and development of, gold-silver-copper properties in the western United States. Orsa has a 2.85 million ounce Inferred gold Resource (110,448,000 tonnes grading 0.80 grams per tonne gold) on its Quartz Mountain Property, southern Oregon with excellent exploration upside. In addition to the Coal Canyon Property in Nevada, Orsa has the right to earn a 51% interest Ashby Property, a former gold producer and porphyry copper-gold target, within the Walker Lane Mining Trend, host to several large copper and gold deposits.
On behalf of the Board of Directors,
Linda Thorstad, President and Chief Executive Officer
Linda Thorstad, P. Geo., a Qualified Person as defined by National Instrument 43-101 and President and Chief Executive Officer of the Company, has read and approved the technical information in this news release.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the closing of the Financing and the use of proceeds thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Neither 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.