Bullabulling Gold Gibraltar Resource Upgraded


 
TIDMBGL 
 
BULLABULLING GOLD LIMITED 
 
Market Announcement 11 July 2012 AIM Code: BGL, ASX Code: BAB 
 
                          GIBRALTAR RESOURCE UPGRADED 
 
Bullabulling Gold Limited is pleased to report a revised Mineral Resource 
estimate for its wholly owned Gibraltar Project of 4.8 million tonnes grading 
1.15 g/t for 177,500 ounces of contained gold, an increase of approximately 10% 
over the previous resource. 
 
The Gibraltar Project is situated approximately five kilometres south-east of 
the Bullabulling Gold Project on granted Mining Lease M15/529. Previous mining 
at Gibraltar included the heap leaching of approximately 1.6 million tonnes of 
overlying laterite grading 1.5 g/t and in the late 1980's, open pit mining 
extracted 0.34 million tonnes of primary ore with an average grade of 1.57 g/t. 
 
The latest resources estimate is based on data derived from historical drilling 
together with results from 23 reverse circulation holes drilled by Bullabulling 
Gold earlier this year and was calculated using a lower cut-off grade of 0.5 g/ 
t. 
 
Gold mineralisation at Gibraltar remains open to the east, west and at depth. 
3D geological modelling using recent seismic data suggests that the currently 
defined mineralisation at Gibraltar is situated on the hinge zone of a regional 
fold, similar to the Bullabulling fold, however neither the east or west limb 
of the Gibraltar fold have been tested by drilling. Consequently, the Directors 
believe there is the potential to expand the resource at Gibraltar, not only at 
depth, but also along the untested limbs of the fold. 
 
The Company intends to evaluate the mining of Gibraltar as a satellite mine to 
Bullabulling as part of the prefeasibility study currently underway. Although 
generally deeper than the Bullabulling resource, the higher average grade of 
the Gibraltar deposit may make it an attractive source of mill feed in the 
early years of the operation. The Company's resources in the Bullabulling area 
total approximately 3.4 million ounces, as detailed below. 
 
   Bullabulling Gold Project Resource Estimate at a Cut-off Grade of 0.5 g/t 
 
      Deposit           Class       Tonnes (Mt)     Grade g/t      Contained 
                                                                     Ounces 
 
   Bullabulling        Inferred         1.6            0.89          46,000 
     Laterite 
 
   Bullabulling       Indicated         72.1           0.92        2,132,000 
      Primary 
 
                       Inferred         29.0           1.10        1,026,000 
 
Bullabulling Total                     102.8           0.96        3,204,000 
 
     Gibraltar         Inferred         4.8            1.15         177,500 
 
   Project Total                       107.6           0.98        3,381,500 
 
The new Gibraltar resource estimate was prepared by Snowden Mining Industry 
Consultants in accordance with the JORC Code (2004) and ASX Companies Updates. 
Details of the work undertaken by Snowden to prepare the resource estimate are 
outlined in the report which is available on the Company's website. 
 
For further information contact Brett Lambert, Managing Director, on +61 8 9386 4086 
or visit the Company's website www.bullabullinggold.com. 
 
Brett Lambert 
Bullabulling Gold Ltd 
Level 2, 55 Carrington Street 
Nedlands, WA, 6009, Australia 
Tel: +61 8 9386 4086 
 
John Prior / Adam Miller                Tom Price / Martin Davison 
Cannacord Genuity (Broker)              Westhouse Securities Limited 
Tel: +44 20 7523 8350                   (UK Nominated Adviser) 
                                        Tel: +44 20 7601 6100 
 
Neil Boom                               Tony Dawe 
MD, Gresham PR Ltd (UK media)           Professional Public Relations 
Tel: +44 7866 805 108                   (Australia Media) 
                                        Email: tony.dawe@ppr.com.au 
                                        Tel: +61 8 9388 0944 / +61 405 989 743 
 
Glossary of Technical Terms 
 
Cut off                The lowest grade of mineralized material included in the 
                       Mineral Resource estimate 
 
g/t                    Grams per tonne 
 
JORC                   Joint Ore Reserves Committee 
 
Indicated resource     In situ Mineral Resource calculated with a moderate 
                       confidence level to which economic parameters have not 
                       been applied 
 
Inferred resource      In situ Mineral Resource calculated with a low 
                       confidence level to which economic parameters have not 
                       been applied 
 
Mt                     Millions of tonnes 
 
About Bullabulling Gold Limited 
 
Bullabulling Gold Limited is listed on the Australian Securities Exchange (ASX: 
BAB) and London's AIM Market (AIM:BGL) and has approximately 289 million shares 
on issue. The Company's primary asset is the wholly owned Bullabulling Gold 
Project, located near Coolgardie in Western Australia. 
 
The Bullabulling Gold Project hosts JORC compliant Mineral Resources of 3.4 
million ounces comprising Indicated Resources of 72.1 million tonnes at 0.92 g/ 
t gold and Inferred Resources of 30.7 million tonnes at 1.07g/t gold at 
Bullabulling and Inferred Resources of 4.8 million tonnes at 1.15 g/t gold at 
Gibraltar. Exploration has demonstrated strong potential for further expansion 
of the resource base. 
 
The Bullabulling deposit is amenable to bulk tonnage open pit mining and 
conventional CIL processing has delivered high gold recoveries. The deposit is 
situated on granted Mining Leases in close proximity to infrastructure. 
 
The Company is currently undertaking a pre-feasibility study into the 
development of a large scale, low cost mining operation at Bullabulling, with 
first production targeted for 2015. 
 
Competent Person Statements 
 
The information in this report that relates to the July 2012 Gibraltar Mineral 
Resource estimate is based upon information compiled by Richard Sulway. Mr 
Sulway is a Member of the Australasian Institute of Mining and Metallurgy 
(MAusIMM (CP)) and has sufficient experience which is relevant to the style of 
mineralisation and type of deposit under consideration and to the activity to 
which he is undertaking to qualify as a Competent Person as defined in the 2004 
edition of the "Australasian Code for Reporting of Exploration Results, Mineral 
Resources and Ore Reserves". Mr Sulway is a full-time employee of Snowden 
Mining Industry Consultants Pty Ltd. Mr Sulway consents to the inclusion in the 
report of the matters based on his information in the form and context in which 
it appears. 
 
The information in this report that relates to the Exploration Results, Mineral 
Resources or Ore Reserves, other than the Gibraltar Mineral Resource, is based 
upon information compiled by Dr. Gregor Partington, who acts as an exploration 
consultant to the company and is a member of The Australasian Institute of 
Mining and Metallurgy and the Australian Institute of Geoscientists. Dr. 
Partington has sufficient experience relevant to the style of mineralisation 
and type of deposit under consideration and the activity in which he is 
undertaking to qualify as a Competent Person under 2004 Edition of the 
Australasian Code for Reporting Exploration Results, Mineral Resources and Ore 
Reserves (JORC Code). Dr. Partington consents to the inclusion in this report 
of the matters based on his information in the form and context in which it 
appears. 
 
 
 
END
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