TIDMBGL
RNS Number : 6023K
Bullabulling Gold Limited
23 August 2012
Bullabulling Gold Limited
23 August 2012 ASX Code: BAB, AIM Code: BGL
Bullabulling Infill Drilling Results Received - Expanded
Resource Anticipated
-- 26 RC drill holes totaling 3,837 metres were completed ahead of schedule and below budget
-- Results successfully demonstrate improved continuity of
mineralisation in areas with previously low drilling density
-- A new resource estimate is to be prepared with a moderate
increase in contained ounces of gold anticipated
-- Significant intercepts include:
o 8 metres at 6.59g/t gold from 149 metres in hole BJ4177
o 24 metres at 1.14g/t gold from 19 metres in hole BJ4036
o 11 metres at 1.10g/t gold from 212 metres in hole BJ4047
o 3 metres at 3.18g/t gold from 75 metres in hole BJ4068
o 5 metres at 1.59g/t gold from 48 metres in hole BJ4174
o 8 metres at 1.53g/t gold from 76 metres in hole BJ4199
Bullabulling Gold Limited (BAB:ASX, BGL:AIM) is pleased to
advise that infill drilling which commenced at the Bullabulling
Gold Project in Western Australia in July has been completed and
all assay results received.
The infill drilling program was principally targeting two areas
where additional information was sought to finalise open pit
designs for the prefeasibility study that is currently evaluating
development of the 3.4 million-ounce Bullabulling Gold Project.
Drilling from Bacchus East tested areas below the Bacchus Pit,
where hole spacing was previously too broad to confirm geological
continuity. Several holes reported significant intercepts
including; 24 metres at 1.14g/t gold in hole BJ4036; 5 metres at
1.21g/t gold in hole BJ4034; 11 metres at 1.10g/t gold in hole
BJ4047; and 3 metres at 3.18g/t gold in hole BJ4068. The results
demonstrate down-dip continuity of the footwall lodes in Bacchus
East below the Bacchus Pit and confirm significant widths of higher
grade mineralisation (+1g/t gold) remain open at depth. This is
expected to lead to an expansion of the resource in this area.
Drilling also tested a largely undrilled section of the corridor
between the Hobbit and Dickson's Prospects, which is traversed by
the Great Eastern Highway. Results from the two drill fences
immediately adjacent to the road reserve indicate that
mineralisation is sporadically developed in close proximity to the
highway. Encouraging results were returned further to the north
with hole BJ4177 intersecting 8 metres at 6.59g/t gold and holes
BJ4198 and BJ4199 returning 10 metres at 0.88g/t and 8 metres at
1.53g/t respectively.
The drilling between Hobbit and Dickson's has successfully
demonstrated continuity of mineralisation along strike, albeit with
some thinning evident immediately adjacent to the highway. It is
anticipated that this will expand the resource and increase the
mining inventory within this area. An assessment of whether there
is sufficient additional resource present to warrant relocation of
the highway will be incorporated into the prefeasibility study.
In total, 26 reverse circulation (RC) holes were drilled for
3,837 metres. The program was completed ahead of schedule and at
below budgeted cost. Details of all significant intercepts (+0.3g/t
gold) are presented in Table 1. Table 2 displays parameters for all
holes in the program. Figure 1 (available on the version of this
announcement on the Company's website) shows all collar locations
for drilling conducted by Bullabulling Gold with the recent holes
in red.
The latest drill results are currently being interpreted in
order to update the geological model prior to preparation of a
revised resource estimate. A moderate increase in resource tonnage
and contained ounces of gold is anticipated, with no material
impact on grade.
The updated resource model will be used in conjunction with
detailed operating cost estimates, currently being prepared, to run
final pit optimisation studies followed by detailed mine design and
production scheduling. This represents the last major component of
the Bullabulling prefeasibility study, which remains on track for
completion in December.
For information, contact:
Brett Lambert
Bullabulling Gold Limited
Level 2, 55 Carrington Street
Nedlands, WA, 6009, Australia
Tel: +61 8 9386 4086
------------------------------- ---------------------------------------------
Canaccord Genuity (Broker) Westhouse Securities Limited
John Prior / Adam Miller (UK Nominated Adviser)
Tel: +44 20 7523 8350 Tom Price / Martin Davison
Tel: +44 20 7601 6100
------------------------------- ---------------------------------------------
Neil Boom Dudley White / Blake Wilshaw
MD, Gresham PR Ltd (UK media) MAGNUS Investor Relations
Tel: +44 7866 805 108 (Australian Media)
Tel: +61 2 8999 1002 / +61 8
9212 0101
dwhite@magnus.net.au/bwilshaw@magnus.net.au
------------------------------- ---------------------------------------------
Table 1: Significant Drill Intercepts (+0.3g/t gold)
Prospect Site Depth From Depth Interval Gold (
Id To g/t)
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4034 39 41 2 0.63
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4034 60 63 3 0.44
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4034 87 92 5 1.21
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4034 97 100 3 0.71
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4036 88 90 2 0.35
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4036 126 137 11 0.79
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4036 195 219 24 1.14
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4043 45 47 2 0.40
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4047 193 196 3 0.33
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4047 212 223 11 1.10
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4047 230 238 8 0.89
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4056 144 151 7 0.44
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4056 196 198 2 0.57
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 33 37 4 0.42
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 43 46 3 0.53
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 50 53 3 0.64
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 71 76 5 0.90
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 90 93 3 0.87
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 129 141 12 0.77
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 172 174 2 0.43
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 212 216 4 0.32
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 228 241 13 0.51
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4061 249 252 3 1.04
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 37 42 5 0.92
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 52 59 7 0.81
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 65 68 3 1.14
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 75 78 3 3.18
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 92 96 4 0.51
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 125 127 2 0.38
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 196 198 2 0.33
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 200 203 3 1.76
-------------- -------- ----------- ------ --------- -------
Bacchus East BJ4068 208 213 5 0.98
-------------- -------- ----------- ------ --------- -------
Hobbit BJ4166 38 43 5 0.50
-------------- -------- ----------- ------ --------- -------
Hobbit BJ4167 22 30 8 0.42
-------------- -------- ----------- ------ --------- -------
Hobbit BJ4167 67 69 2 0.70
-------------- -------- ----------- ------ --------- -------
Hobbit BJ4167 103 107 4 0.93
-------------- -------- ----------- ------ --------- -------
Dickson BJ4172 77 79 2 1.62
-------------- -------- ----------- ------ --------- -------
Dickson BJ4173 65 69 4 0.42
-------------- -------- ----------- ------ --------- -------
Dickson BJ4174 48 53 5 1.59
-------------- -------- ----------- ------ --------- -------
Dickson BJ4182 38 50 12 0.90
-------------- -------- ----------- ------ --------- -------
Dickson BJ4182 70 72 2 0.50
-------------- -------- ----------- ------ --------- -------
Dickson BJ4182 90 96 6 0.43
-------------- -------- ----------- ------ --------- -------
Dickson BJ4182 141 143 2 1.12
-------------- -------- ----------- ------ --------- -------
Dickson BJ4185 40 45 5 0.36
-------------- -------- ----------- ------ --------- -------
Dickson BJ4185 65 67 2 0.78
-------------- -------- ----------- ------ --------- -------
Dickson BJ4186 54 65 11 0.75
-------------- -------- ----------- ------ --------- -------
Dickson BJ4187 71 77 6 0.63
-------------- -------- ----------- ------ --------- -------
Dickson BJ4198 46 48 2 0.42
-------------- -------- ----------- ------ --------- -------
Dickson BJ4198 52 62 10 0.88
-------------- -------- ----------- ------ --------- -------
Dickson BJ4198 67 69 2 2.30
-------------- -------- ----------- ------ --------- -------
Dickson BJ4199 57 61 4 0.64
-------------- -------- ----------- ------ --------- -------
Dickson BJ4199 76 84 8 1.53
-------------- -------- ----------- ------ --------- -------
Dickson BJ4199 92 94 2 0.89
-------------- -------- ----------- ------ --------- -------
Dickson BJ4197 32 37 5 0.41
-------------- -------- ----------- ------ --------- -------
Dickson BJ4197 49 52 3 0.55
-------------- -------- ----------- ------ --------- -------
Dickson BJ4197 142 144 2 0.57
-------------- -------- ----------- ------ --------- -------
Dickson BJ4197 149 157 8 6.59
-------------- -------- ----------- ------ --------- -------
Dickson BJ4243 36 39 3 0.62
-------------- -------- ----------- ------ --------- -------
Bonecrusher BJ4331 58 60 2 0.85
-------------- -------- ----------- ------ --------- -------
Bonecrusher BJ4333 37 43 6 1.15
-------------- -------- ----------- ------ --------- -------
Table 2: Collar Data for RC Drilling July 2012
Prospect Site Easting Northing RL DIP AZI Depth Status
Id
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BE BJ4061 299578 6566450 428 -70 270 252 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BE BJ4068 299608 6566550 429 -70 270 264 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BE BJ4043 299782 6566250 428 -60 90 61 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BE BJ4044 299740 6566250 428 -60 90 79 Not Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BE BJ4034 299611 6566175 428 -75 90 150 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BE BJ4036 299611 6566175 428 -75 270 240 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
HB BJ4166 300039 6568950 452 -60 90 126 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
HB BJ4167 299997 6568950 452 -60 90 150 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BE BJ4047 299570 6566300 428 -67 270 252 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4171 299910 6569200 450 -60 90 138 Not Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4172 299867 6569197 450 -60 90 162 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4173 299827 6569199 448 -60 90 102 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4174 299784 6569200 448 -60 90 96 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4182 299952 6569275 450 -60 90 145 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4185 299828 6569274 448 -60 90 180 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4186 299781 6569276 448 -60 90 96 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4187 299743 6569274 448 -60 90 114 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4197 299868 6569350 448 -60 90 162 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4198 299827 6569351 446 -60 90 102 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4199 299784 6569350 445 -60 90 114 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4493 299977 6569953 445 -60 90 132 Not Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
DK BJ4243 300111 6569961 445 -60 90 150 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BC BJ4331 300006 6571150 434 -60 90 84 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BC BJ4332 299964 6571150 430 -60 90 114 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BC BJ4333 299958 6571150 430 -80 90 144 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
BE BJ4056 299584 6566375 428 -60 270 228 Mineralised
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
26 3,837
---------- ------- -------- --------- ---- ---- ---- ------ ----------------
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 Statement
The information in this report that relates to the Exploration
Results, Mineral Resources or Ore Reserves 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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