Ovoca aacquires new ground in Sweden

Irish exploration company Ovoca Resources said today it has acquired a new exploration concession in the Vasterbotten district of northern Sweden, with production planned for later this year.

The Sjoliden concession is located along the 'Gold Line' area, about 5km north of Dragon Mining's Svartliden gold project with proven and probable reserves of 1.41 million tonnes at 5.65 grammes a tonne.

The company now has seven exploration concessions along the Gold Line area.

"The board of Ovoca Resources is delighted to have acquired this highly prospective new ground on the Gold Line in Sweden," said chief executive Richard O'Shea.

"With financing in place and a clearly defined work strategy Ovoca Resources can expect an active exploration program to commence in early to mid April 2004," he added.