Bullabulling Gold Drilling Upgrades Bullabulling Resource


 
TIDMBGL 
 
BULLABULLING GOLD LIMITED 
 
13 May 2013                                        ASX Code: BAB, AIM Code: BGL 
 
                    DRILLING UPGRADES BULLABULLING RESOURCE 
 
  * 3.9 Mt at 1.68g/t - 210,500 ounces - added at Edwards/Gryphon 
 
  * Grade exceeds expectations and lifts global resource grade by 2% 
 
  * Total project resource now exceeds 3.7 million ounces of gold 
 
  * Continuity of mineralisation between Edwards and Gryphon confirmed 
 
  * Additional high grade ore expected to boost early project cash flow 
 
Bullabulling Gold Limited reports that the Mineral Resource estimate for the 
Bullabulling Gold Project has been updated to incorporate results from the 
recent drilling program at the Edwards and Gryphon prospects (see release of 11 
April 2013). Only the portion of the resource south of 6,564,800 mN was 
remodeled. 
 
Total project resources have increased by 3.9 million tonnes at 1.68g/t to 
113.2 million tonnes at 1.02g/t. Contained gold has increased by 210,500 ounces 
to 3,715,500 ounces. Resource details are presented in Table 1. 
 
Table 1: Bullabulling Gold Project Mineral Resource Estimate (0.5g/t cut-off) 
 
Deposit                 Classification Tonnage      Grade         Cont. Gold 
 
Bullabulling Laterite   Inferred       1.7 Mt       0.89 g/t      48,000 oz 
 
Bullabulling Primary    Indicated      72.7 Mt      0.97 g/t      2,274,000 oz 
 
                        Inferred       34.0 Mt      1.11 g/t      1,216,000 oz 
 
Bullabulling Total      Ind. & Inf.    108.4 Mt     1.02 g/t      3,538,000 oz 
 
Gibraltar               Inferred       4.8 Mt       1.15 g/t      177,500 oz 
 
Project Total            Ind. & Inf.   113.2 Mt     1.02 g/t      3,715,500 oz 
 
The grade of the extended resource exceeded expectations and led to a two 
percent increase in the global resource grade. The additional high grade 
material will be scheduled for early processing and is expected to contribute 
to improved project economics. 
 
The Edwards/Gryphon drilling program successfully identified down-dip 
extensions to both deposits and demonstrated that mineralisation was continuous 
between them, as shown in Figure 1. Preliminary mine planning is indicating 
that a single pit some 1.2 km in length can now be designed to efficiently 
extract the combined Edwards/Gryphon resource. The resource remains open at 
depth and further drilling is considered to be warranted. 
 
Re-optimisation of the mine design using the updated resource model and refined 
cost estimates is currently underway as the first phase of the Bullabulling 
definitive feasibility study. Amalgamation of the Edwards and Gryphon prospects 
is expected to contribute to lower mining costs with the grade increase 
expected to further reduce gold production costs. 
 
The revised Bullabulling resource estimate was prepared by Snowden Mining 
Industry Consultants in accordance with the JORC Code (2004) and ASX Companies 
Updates. 
 
A copy of this announcement including figures is available on the Company's 
website: www.bullabullinggold.com 
 
For information, contact: 
 
Brett Lambert                    Westhouse Securities Limited 
 
Bullabulling Gold Limited        (UK Broker & 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 
                                 Communication. (Australian Media) 
Tel: +44 7866 805 108 
                                 Tel: +61 8 6160 4900 
 
                                 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 341.7 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 3.7 
million ounces comprising Indicated Resources of 72.7 million tonnes at 0.97 g/ 
t gold (2.3 million ounces) and Inferred Resources of 35.7 million tonnes at 
1.11 g/t gold (1.2 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. All resources are situated on granted Mining 
Leases in close proximity to infrastructure. 
 
The Company is conducting a definitive feasibility study into the development 
of a large scale, low cost mining operation at Bullabulling, with first 
production targeted for Q4 2015. 
 
Competent Person Statements 
 
The information in this report that relates to the May 2013 Bullabulling 
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 May 2013 Bullabulling Mineral Resource 
estimate 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. 
 
Glossary of Technical Terms 
 
Cut off                The lowest grade of mineralised 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 
 
 
 
END
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