TIDMBGL
RNS Number : 3163Z
Bullabulling Gold Limited
06 March 2013
Bullabulling Gold Limited
6 March 2013 ASX Code: BAB, AIM Code: BGL
Positive Initial Results from Edwards and Gryphon Drilling
-- Potential for expansion of the resource and mining inventory confirmed
-- Additional high grade mineralisation intersected down dip
- Best result to date 16 metres at 3.78 g/t gold from 87 metres
down hole
- Including 2 metres at 17.6 g/t gold
-- Strong intersection in previously untested area between Edwards and Gryphon
- 9 metres at 0.99 g/t gold from 69 metres down hole
- Result supports potential amalgamation of the two proposed
pits
-- Drilling is continuing with additional assays available later in the month
Bullabulling Gold Limited (the "Company") is pleased to report
that initial assays have been received from reverse circulation
("RC") drilling at the Edwards and Gryphon prospects and are
considered by the Company to be very positive.
As previously announced, the current drilling program has been
designed to test for down dip extensions to existing high grade
mineralisation and to determine whether there is sufficient
continuity between the two prospects to enable the development of a
single larger pit. Assays have now been received for the first 10
holes in the program, and the results support the potential
achievement of both objectives.
Nine out of ten holes for which assays have been received
produced intercepts above the 0.5 g/t resource cut-off grade.
Significant intercepts, all of which are between just 50 and 100
metres below surface, include:
-- Hole BJ4559 5 metres at 2.46 g/t
-- Hole BJ4571 16 metres at 3.78 g/t including 2 metres at 17.60 g/t
-- Hole BJ4572 11 metres at 1.35 g/t
-- Hole BJ4614 10 metres at 1.29 g/t
Hole number BJ4671 intersected 16 metres grading 3.78 g/t gold
at the down dip margin of the proposed Gryphon pit. This result is
substantially higher in grade than the nearest existing holes and
is supported by hole BJ4672 which intersected 11 metres at 1.35 g/t
approximately 70 metres further down dip, as shown on the
cross-section in Figure 1. These holes are expected to extend and
increase the grade of the resource at this location and potentially
support a significant expansion of the Gryphon pit, increasing the
mining inventory and supplying additional high grade feed early in
the life of the proposed Bullabulling Gold Mine.
Hole number BJ4602 intersected 9 metres at 0.99 g/t near the
midpoint between the two proposed pits, in an area that was
previously untested. Additional ore grade intercepts within this
corridor would support the amalgamation of the proposed Edwards and
Gryphon pits into a single large pit exceeding a kilometre in
length. This would further increase the mining inventory and
improve the efficiency of the mine design by eliminating the need
for two haulage ramps, thereby potentially reducing the strip ratio
and facilitating mining to greater depth.
Drill hole collar locations are shown in Figure 2 and all
significant intercepts to date from the current program are
presented in Table 1.
Drilling is continuing and additional assay results are expected
to be available later this month. So far all mineralised lenses
drilled remain open at depth.
Note: Edwards and Gryphon are located in the southern portion of
the Bullabulling trend. The recently completed Bullabulling
prefeasibility study incorporated two small open pits at Edwards
and Gryphon with a combined mining inventory of 2.2 million tonnes
grading 1.14g/t gold, some 30% above the average grade for the
project.
Table 1 - Edwards/Gryphon significant drill intercepts
(>0.5g/t)
Hole No Easting Northing Dip Azi From (m) To (m) Interval Au (g/t)
-------- --------- ---- ---- --------- ------- ---------
BJ4559 300427 6563806 -60 45 43 47 4 0.53
--------- -------- --------- ---- ---- --------- ------- --------- ---------
83 88 5 2.46
------------------------------------------ --------- ------- --------- ---------
106 111 5 0.54
------------------------------------------ --------- ------- --------- ---------
120 124 4 0.84
------------------------------------------ --------- ------- --------- ---------
131 134 3 0.84
------------------------------------------ --------- ------- --------- ---------
BJ4564 300344 6563834 -60 45 76 94 18 0.55
--------- -------- --------- ---- ---- --------- ------- --------- ---------
BJ4567 300291 6563884 -63 45 72 77 5 0.93
--------- -------- --------- ---- ---- --------- ------- --------- ---------
BJ4571 300214 6563912 -58 45 87 103 16 3.78
--------- -------- --------- ---- ---- --------- ------- --------- ---------
including 95 97 2 17.60
------------------------------------------ --------- ------- --------- ---------
123 126 3 1.55
------------------------------------------ --------- ------- --------- ---------
BJ4572 300182 6563878 -70 45 92 103 11 1.35
--------- -------- --------- ---- ---- --------- ------- --------- ---------
BJ4576 300153 6563958 -60 45 105 108 3 2.38
--------- -------- --------- ---- ---- --------- ------- --------- ---------
BJ4593 299999 6564114 -65 45 88 91 3 0.63
--------- -------- --------- ---- ---- --------- ------- --------- ---------
BJ4602 299895 6564225 -60 45 69 78 9 0.99
--------- -------- --------- ---- ---- --------- ------- --------- ---------
97 104 7 0.94
------------------------------------------ --------- ------- --------- ---------
118 122 4 0.50
------------------------------------------ --------- ------- --------- ---------
BJ4614 299731 6564386 -60 45 48 58 10 1.29
--------- -------- --------- ---- ---- --------- ------- --------- ---------
63 67 4 0.66
------------------------------------------ --------- ------- --------- ---------
Note: Drill intercepts were composited using a 0.3 g/t lower cut
and minimum width of 3m
A copy of this announcement, including figures referred to
above, can be found on the Company's website:
www.bullabullinggold.com
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
Andrew Chubb/Sebastian Jones (UK Nominated Adviser)
Tel: +44 20 7523 8000 Martin Davison/Jonathan Haines
Tel: +44 20 7601 6100
-----------------------------------------------
Neil Boom John Gardner / Rupert Dearden
Gresham PR Ltd (UK media) MAGNUS Investor Relations. Corporate
Tel: +44 7866 805 108 Communication. (Australian Media)
Tel: +61 8 9212 0101
jgardner@magnus.net.au rdearden@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 302.5 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 has recently completed a pre-feasibility study into
the development of a large scale, low cost mining operation at
Bullabulling and is now moving into definitive feasibility study.
First production is targeted for Q4 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
END
DRLSSSFWIFDSEDD
Bullabulling (LSE:BGL)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Bullabulling (LSE:BGL)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
