May 8 2014
Oban Mining Corporation is pleased to provide details of its 2014 Exploration plans at the Antamayo Skarn Project (approx. 15,000 ha) in Ancash, Peru and on the other properties in Peru.
Oban Mining Corporation Exploration Plan:
Antamayo
The Company's 2014 exploration plan at the Antamayo Project is to drill approximately 3,000 metres ("m"). The drill plan is to continue the previous drill program that completed 4,043 m by drilling an additional 500 m that remain on the last hole that was left in mineralization prior to the business combination. Subsequent to the 500 m, the Company will drill an additional 2,500 m to test new geophysical and geological anomalies that were identified during the 85 line-km Induced Polarization geophysical survey that will be completed later this week.
The focus of the drilling will be to expand the known mineralization from surface to depth along the Central Valley, Huinchos and Chequiachocha porphyry-skarn centre locations. The Company is expecting to complete the drill program during the third quarter of 2014.
Other properties
The Company has optioned up to 75% of the Marcahui copper porphyry project in Peru to Teck Peru S.A. ("Teck"), a subsidiary of Teck Resources Limited. During the second quarter of 2014, Teck intends to drill approximately 3,000 m. The drilling will test for extensions to known mineralization and will also test a number of geophysical anomalies defined during their previous exploration campaigns.
In addition, the Company will complete a geological reconnaissance program on five of its generative prospects of staked land in Peru to help define new drill targets.