TIDMBGL
RNS Number : 7857P
Bullabulling Gold Limited
30 October 2012
Bullabulling Gold Limited
30 October 2012 AIM Code: BGL, ASX Code: BAB
Diamond Drilling Identifies New Mineralised Horizon at
Bullabulling
-- Two stratigraphic holes completed totalling 928 metres
o 121 metres of RC pre-collars and 807metres of HQ diamond
core
-- New prospective ultramafic-amphibolite sequence identified below current deposit
o Assays confirm anomalous gold within the sequence
-- Further significant intersections from the existing deposit on the Western Limb, including:
o 7.6m at 2.14g/t Au from 60.4m
o 4m at 2.64g/t Au from 117m
o 3m at 1.17g/t Au from 164m
-- The drill data will assist calibration of the 3D geological
model with positive implications for ongoing exploration at
Bullabulling
Bullabulling Gold Limited advises that two deep diamond drill
holes have been completed at the Bullabulling Gold Project, 60
kilometres west of Kalgoorlie in Western Australia. Gold assays
have been received confirming discovery of a new mineralised
horizon.
The two stratigraphic diamond holes were designed to validate
the three dimensional (3D) geological model that has been developed
from geophysical data acquired from the project area (see release 6
September 2012).
Hole BBDE001, drilled at a dip of 60 degrees towards the east,
traversed the western limb of the Bullabulling fold before
targeting a sub-horizontal seismic feature interpreted as a
disharmonic fold structure at 450m to 500m below surface. The main
zone of mineralisation in the western limb was encountered as
expected from 60m to 190m down-hole. Results within this interval
included 7.6m at 2.14g/t gold from 60.4m, 4m at 2.64g/t gold from
117m and 3m at 1.17g/t gold from 164m.
Of greater significance, a zone of pyrite and pyrrhotite
mineralised felsic to mafic schist was identified from 455m to
503m, passing into a 15m thick ultramafic unit immediately above
the contact with granite. This sequence is consistent with the
geological setting of the existing Bullabulling deposit and
importantly assays returned sporadic, but highly anomalous gold
values of up to 0.38g/t between 472m and 489m. The seismic feature
is now considered to represent the granite contact.
Hole BBDE002 was drilled at a dip of 60 degrees towards the west
and targeted the eastern fold limb. The hole was terminated earlier
than expected after penetrating a sub-horizontal felsic schist
sequence before encountering granite at 212m.
The mafic and ultramafic sequence intersected at depth in
BBDE001 may be the same sequence that hosts the Bullabulling
deposit which has been tightly folded, perhaps by the intruding
granite, explaining why BBDE002 did not intersect the interpreted
geology. Alternatively BBDE001 may have intersected a separate
footwall ultramafic unit that has not been intersected in prior
drilling (see Figure 1). Either way, identification of another
occurrence of the geological sequence that hosts the existing
Bullabulling deposit, with associated gold mineralisation, is
considered to be a significant discovery that warrants further
evaluation.
The 3D geological model will be updated using the detailed
geological and assay data from the diamond drill holes ahead of
planning the next phase of exploration.
Collar details for the two stratigraphic holes are presented in
Table 1, with significant +0.3g/t gold composited intercepts listed
in Table 2. Intervals composited using +0.1g/t cut-off are listed
in Table 3.
A copy of this announcement including an image showing lithology
and mineralization on traces of BBDE001 and BBDE002 with
preliminary interpretation can be found on the Company's website:
www.bullabullinggold.com.
Table 1: Drill collar information
Hole No. EASTING NORTHING DIP AZI RC Pre-collar Diamond End of
Core Hole
---------- -------- --------- ------- ------- -------------- -------- -------
BBDE001 2996257 6566969 -60deg 80deg 60.4m 513.1m 573.5m
---------- -------- --------- ------- ------- -------------- -------- -------
BBDE002 300775 6567140 -60deg 250deg 60.8m 293.9m 354.7m
---------- -------- --------- ------- ------- -------------- -------- -------
Total Metres 121.2m 807.0m 928.2m
------------------------------------------------- -------------- -------- -------
Table 2: Hole BBDE001 significant intercepts
Hole From To Interval Grade (g/t)
No. (m) (m) (m)
--------- ------ ------ --------- ------------
BBDE001 60.4 68.0 7.6 2.14
--------- ------ ------ --------- ------------
BBDE001 77.0 79.0 2.0 0.33
--------- ------ ------ --------- ------------
BBDE001 91.2 97.0 5.8 0.66
--------- ------ ------ --------- ------------
BBDE001 117.0 121.0 4.0 2.64
--------- ------ ------ --------- ------------
BBDE001 128.0 130.0 2.0 0.74
--------- ------ ------ --------- ------------
BBDE001 138.0 146.0 8.0 0.74
--------- ------ ------ --------- ------------
BBDE001 164.0 167.0 3.0 1.17
--------- ------ ------ --------- ------------
(>0.3 g/t Au composite, 4m internal waste, >=2m
interval)
Table 3: Hole BBDE001 >=0.1 g intercepts
Hole No. From Depth Interval Grade (g/t)
(m) (to) (m)
---------- ------ ------ --------- ------------
BBDE001 8.0 16.0 8.0 0.47
---------- ------ ------ --------- ------------
BBDE001 39.0 40.0 1.0 1.04
---------- ------ ------ --------- ------------
BBDE001 51.0 60.0 9.0 0.49
---------- ------ ------ --------- ------------
BBDE001 60.4 69.0 8.6 1.92
---------- ------ ------ --------- ------------
BBDE001 74.0 83.0 9.0 0.23
---------- ------ ------ --------- ------------
BBDE001 88.0 123.0 35.0 0.51
---------- ------ ------ --------- ------------
BBDE001 128.0 130.0 2.0 0.74
---------- ------ ------ --------- ------------
BBDE001 133.0 135.0 2.0 0.16
---------- ------ ------ --------- ------------
BBDE001 138.0 147.0 9.0 0.67
---------- ------ ------ --------- ------------
BBDE001 151.0 152.0 1.0 0.12
---------- ------ ------ --------- ------------
BBDE001 153.0 159.0 6.0 0.33
---------- ------ ------ --------- ------------
BBDE001 164.0 169.0 5.0 0.78
---------- ------ ------ --------- ------------
BBDE001 173.0 178.1 5.1 0.16
---------- ------ ------ --------- ------------
BBDE001 179.0 180.0 1.0 0.1
---------- ------ ------ --------- ------------
BBDE001 398.0 399.0 1.0 0.53
---------- ------ ------ --------- ------------
BBDE001 472.0 473.0 1.0 0.11
---------- ------ ------ --------- ------------
BBDE001 477.0 478.0 1.0 0.14
---------- ------ ------ --------- ------------
BBDE001 488.0 489.0 1.0 0.38
---------- ------ ------ --------- ------------
(>0.1 g/t Au composite, 4m internal waste, >=1m
interval)
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 (UK Nominated Adviser)
Tel: +44 20 7523 8350 Martin Davison
Tel: +44 20 7601 6100
------------------------------- -----------------------------------------------
Neil Boom John Gardner / Blake Wilshaw
Gresham PR Ltd (UK media) MAGNUS Investor Relations
Tel: +44 7866 805 108 (Australian Media)
Tel: +61 8 9212 0101
jgardner@magnus.net.au/bwilshaw@magnus.net.au
------------------------------- -----------------------------------------------
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 3.5 million ounces comprising Indicated Resources of
71.7 million tonnes at 0.96 g/t gold (2.2 million ounces) and
Inferred Resources of 32.8 million tonnes at 1.06 g/t gold (1.1
million ounces) at Bullabulling and Inferred Resources of 4.8
million tonnes at 1.15 g/t gold (0.2 million ounces) 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 Mr Trevor Pilcher, who is a full time
employee of the company and is a member of The Australasian
Institute of Mining and Metallurgy. Mr Pilcher 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). Mr Pilcher 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
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