YEREVAN. – Orogen Gold’s (LON:ORE) “confirmatory” drilling program on the Mutsk gold project in Armenia has returned substantially higher gold grades than previously reported, informs proactiveinvestors.com.

The results included an 11 meter intersection at 5.56 grams per ton, although there were others at 3.68 grams and 1.67 grams. Historic work unearthed smaller intersections with highest grade registering around 2.75 grams per ton, “EcoLur” NGO reports.

Orogen will now move into the second phase of the drilling program, where it will spend $2.5 million to earn an 80 percent interest of the property.

According to the official website of “Orogen Gold” Company, it signed a Memorandum of Understanding (“MOU”) with Georaid CJSC (“Georaid”), an Armenian registered company, covering the Mutsk gold project in southern Armenia in January 2013. 

The exploration area accounts for 24 square kilometers. 

According to the official website of Energy and Natural Resources Ministry of Armenia, Georaid CJSC was issued an exploration license for Mutsk (Bardravan) mine in 2010, which expires on June 30, 2015.

Mutsk is a gold-polymetallic mine, which is also known as Bardzravan, located in Sisian area of Armenia’s Syunik Region, 2.5 km southeast from Mutsk (Bardzravan Village).

It is noteworthy that “Orogen Gold” Company outlines only gold neglecting other natural resources while the book by Hrachya Avagyan, Dr. in Geological Sciences, and entitled Ways and Prospects of Mining and Metallurgical Industries in the Republic of Armenia, says that aside from gold, this mine also contains copper, lead, zinc, silver, selenium, tellurium, bismuth, thallium, indium, cadmium, gallium, sulfur, and iron.