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."
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 no way constitutes any recommendation regarding the securities of ORAC or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all the facts and circumstances regarding the business and financial condition and prospects of ORAC, and no inference has been made that this release contains all such information. U.S. investors are urged to consider carefully the disclosure in Oraco's Form 10-K and other filings, available on the Internet at http://www.sec.gov. You also can obtain a copy from the SEC by calling 1-800-SEC-0330.
Oraco Resources, Inc.
Brad Rosen, President
KEYWORDS: United States North America New York
The article Oraco Resources, Inc. Update on Drilling in Boroma originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.