Bullabulling Gold Limited Further Strong Results from Drilling (7235A)
25 3월 2013 - 4:01PM
UK Regulatory
TIDMBGL
RNS Number : 7235A
Bullabulling Gold Limited
25 March 2013
Bullabulling Gold Limited
25 March 2013 AIM Code: BGL, ASX Code: BAB
Further Strong Results from Edwards and Gryphon Drilling
-- Potential amalgamation of the Edwards and Gryphon pits
supported by additional intercepts in the corridor between the two
prospects, including:
- Hole BJ4588, 5 metres at 14.52g/t gold (including 1 metre at
68.6g/t)
- Hole BJ4599, 9 metres at 1.89g/t gold
-- Further mineralisation intersected down dip at Gryphon, including:
- Hole BJ4568, 5 metres at 3.47g/t gold
-- Drilling is continuing
Bullabulling Gold Limited (the Company) is pleased to report
that assay results have been received for eight additional reverse
circulation (RC) holes drilled at the Edwards and Gryphon
prospects. The results provide further support for the potential
amalgamation of the two proposed open pits to form a single larger
pit of at least 1.2km in length.
All eight holes intersected gold mineralisation, with seven
producing intercepts above the 0.5g/t resource cut-off grade. Of
particular note were holes BJ4588 and BJ4599 which were drilled in
the corridor between Gryphon and Edwards and intersected 5 metres
at 14.52g/t (including 1 metre at 68.6 g/t) and 9 metres at 1.89g/t
respectively.
Hole BJ4607, which was also drilled in the corridor between the
two prospects, intersected low grade mineralisation (4 metres at
0.47g/t) at less than 40 metres below surface, suggesting that the
prospective ultramafic contact is situated further to the
south-west than expected and was intersected too high up dip, near
the surface depletion zone. Further holes are planned down dip of
BJ4607 to test the target horizon at a depth more likely to host
high grade mineralisation.
Also of significance was hole BJ4568 at Gryphon, which produced
an intercept of 5 metres grading 3.47g/t, substantially bettering
hole BJ4567 that was drilled up dip and returned 5 metres at
0.93g/t as reported in the first batch of results from the current
program (see release of 6 March 2013). Additional holes have been
designed to test further down dip from these intercepts.
Drill hole collar locations are shown in Figure 1
(Edwards/Gryphon Drill Hole Collar Plan with PFS Pit Outlines).
Drill hole details and significant intercepts from the latest batch
of are results are presented in Table 1.
Drilling is continuing and additional assay results are expected
to be available by early April. So far all mineralised lenses
drilled remain open at depth.
Table 1 - Edwards/Gryphon significant drill intercepts
(>0.5g/t)
Hole No Easting Northing Dip Azi From (m) To (m) Interval Au (g/t)
--------- -------- --------- ---- ---- --------- ------- --------- ---------
BJ4568 300262 6563855 -66 45 97 102 5 3.47
--------- -------- --------- ---- ---- --------- ------- --------- ---------
114 117 3 0.93
------------------------------------------ --------- ------- --------- ---------
BJ4576 300153 6563958 -60 45 114 120 6 0.74
--------- -------- --------- ---- ---- --------- ------- --------- ---------
BJ4582 300101 6564008 -60 45 99 102 3 0.55
--------- -------- --------- ---- ---- --------- ------- --------- ---------
BJ4588 300047 6564061 417 -60 86 91 5 14.52
--------- -------- --------- ---- ---- --------- ------- --------- ---------
including 86 87 1 68.60
------------------------------------------ --------- ------- --------- ---------
BJ4599 299916 6564145 417 -60 93 102 9 1.89
--------- -------- --------- ---- ---- --------- ------- --------- ---------
113 115 2 0.64
------------------------------------------ --------- ------- --------- ---------
BJ4607 299840 6564276 -60 45 No intercepts > 0.5g/t
--------- -------- --------- ---- ---- ----------------------------------------
BJ4619 299722 6564474 417 -60 38 40 2 0.85
--------- -------- --------- ---- ---- --------- ------- --------- ---------
57 61 4 0.70
------------------------------------------ --------- ------- --------- ---------
BJ4926 299487 6564872 -60 90 86 88 2 0.59
--------- -------- --------- ---- ---- --------- ------- --------- ---------
129 137 8 0.65
--------- -------- --------- ---- ---- --------- ------- --------- ---------
Note: Drill intercepts were composited using a 0.5 g/t lower cut and minimum width of 2m
Hole BJ4576 was extended from 109m to 151m since results were
last reported
A copy of this announcement, including figures can be found on
the Company's website: www.bullabullinggold.com
For information, contact:
Brett Lambert Westhouse Securities Limited
Bullabulling Gold Limited (UK Nominated Adviser)
Level 2, 55 Carrington Street Martin Davison/Jonathan Haines
Nedlands, WA, 6009, Australia Tel: +44 20 7601 6100
Tel: +61 8 9386 4086
------------------------------- -----------------------------------------------
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
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