Oraco Resources, Inc. and SGS Set Schedule for the Geological Reconnaissance of Nimini Hills
Oraco Resources, Inc. and SGS Set Schedule for theGeological Reconnaissance of Nimini Hills
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Oraco Resources, Inc. (ORAC.PK) (the "Company" or "ORACO") and SGS Canada Inc. ("SGS") have finalized the itinerary for the Geological Reconnaissance of their concession at Nimini Hills, located in the Kono District of Sierra Leone. SGS should be in country by June 8th, and complete the review by June 14th. SGS will be taking soil and stream samples for analysis, will reconnoiter the 55 square kilometer concession with a goal of planning follow-up exploration. As an additional goal, SGS will attempt to identify several specific locations for more in-depth analysis.
SGS estimates that a rudimentary report of this basic examination should be completed by June 27th. The final report should be delivered around July 18th.
"These developments have the Company moving forward", stated Brad Rosen, the Company's President. He added that "this has us feeling optimistic about our future prospects."
SGS is one of the world's leading inspection, verification, testing and certification companies. Founded in 1878, SGS is recognized as a global benchmark for quality and integrity. With more than 75 000 employees, SGS operates a network of over 1500 offices and laboratories around the world.
Oraco Resources, Inc. (ORAC.PK) is a mineral exploration and development company. Oraco is looking to obtain and develop noteworthy properties, beginning with those located in West Africa. To date, Oraco has secured concessions and rights to properties in Sierra Leone. Small scale operations have commenced at one of the smaller sites, and the exploration process, including licensing, is set to begin at its largest holding. If these initial operations, and traditional financing, generate sufficient working capital, the Company expects to expand its scope of operations, and should expand its efforts to include its other holdings as the conditions permit. 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 Resources, Inc., common stock currently trades under the symbol ORAC.PK. This press release in no way constitutes any recommendation regarding the securities of ORAC.PK 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.PK, 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 Sierra Leone New York Africa
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