ROCHESTER, N.Y.--(BUSINESS WIRE)--Oraco Resources, Inc. (ORAC) (the "Company" or "ORACO") is pleased to announce that it has retained the services of SGS Canada Inc. - Geostat ("SGS-Geostat") of Blainville, Quebec, to begin a program of reconnaissance geology and geochemistry on their Nimini Hills, Sierra Leone property. This is the initial phase in obtaining a Technical Report at the “Property of Merit” level under NI 43-101. The reconnaissance program is utilized to compile baseline geological data that helps to determine where, or if, any more extensive exploration should be conducted. SGS presently expects to commence the on-site inspection portion of the reconnaissance program in the beginning of April, and estimates that it will be at the Nimini site for about one week.
Brad Rosen, ORACO's President and CEO, stated that: “We are excited that we will soon have the preliminary data that can give us an indication of what the potential for Nimini could be, and is the first step taken in fashioning a plan for efficiently operating such a large holding.”
SGS is the world’s leading inspection, verification, testing and certification company. Founded in 1878, SGS is recognized as the 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.
The technical content of this news release has been approved by Yann Camus, Eng., from SGS-Geostat, independent Qualified Person under NI 43-101 standards.
Oraco Resources, Inc. (ORAC.QB) is a mineral exploration and development company engaged principally in the exploration for, and development of, diamond and precious mineral deposits. Oraco is looking to create a portfolio of high value assets located within West Africa. 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.