TIDMGGG
GGG Resources plc
(the "Company" or "GGG")
Bullabulling Gold Project - Resource Drilling Update
15 December 2010
GGG Resources plc is pleased to announce the first results from the current
resource and metallurgical drilling programmes at the Bullabulling Gold
Project, located near Kalgoorlie, Western Australia which the Company is
developing with its Joint Venture partners Auzex Resources Ltd. The aim of the
drilling programme, which utilises three drill rigs, is to upgrade the recent
inferred resource estimation to measured and indicated categories, to infill
and expand the known resource estimate and for metallurgical tests (see
announcement of 18 November 2010).
Highlights
Assays from 11 infill drill holes intersected gold in line with expected
historic mineralisation, with a further 25 drill holes currently pending assays
Assays confirm the presence of a westerly dipping low grade zone of
mineralisation with high grade zones
Higher grade zones include 11m @ 2.92 g/t gold from 79 metres and 9m @ 6.85 g/
t gold from 98 metres, including 4m @ 14.40g/t gold from 103 metres
Gold mineralisation was intersected beneath the current resource model 120m cut
off
Metallurgical drilling has started with 120 metres out of a planned 270 metres
drilled and the scoping studies on plant design and hydrology have commenced
Specific gravity measurements indicate possible additional resource
Commenting on the drill results, Jeff Malaihollo, Managing Director of GGG
Resources Plc, said:
"These drill results received so far are encouraging and further bolster our
confidence in the Bullabulling project. The results confirm the widths and grades
expected at the Bullabulling Gold Project. These results are helping to build
an ongoing platform for us to deliver an updated JORC compliant resource
Measured, Indicated and Inferred mineral resource on the Bullabulling project
in the first half of next year."
Geological Details:
GGG Resources plc today announces the first results from the current resource
and metallurgical drilling programmes at the Bullabulling Gold Project, located
near Kalgoorlie, Western Australia which the Company is developing with its
Bullabulling Joint Venture partners Auzex Resources Ltd.
Three drill rigs are currently operating at the Project with two Reverse
Circulation ("RC") rigs working on resource drilling and one diamond rig
collecting samples for metallurgical test work. The drilling is currently
progressing as planned and the work programme remains on track to deliver an
updated JORC compliant Measured, Indicated and Inferred mineral resource for
the project in the first half of 2011. The current reported JORC compliant
mineral resource is 41.5 Million tonnes @ 1.48 g/t Au for 1.98 million ounces
of gold at a 0.7 g/t Au cut off to a depth of approximately 120m.
Drill production for the two RC drill rigs to date is 4,834m from 36 holes (see
Table 1) over 28 days averaging 173m per shift. Drilling has focused on
infilling to the east of the Bacchus and Phoenix pits, testing the limits of
the resource to the east and following up high grade intersections in historic
drilling beneath the Bacchus North pit.
Table 1 Bullabulling Collar information for RC drilling to 9 December 2010.
Hole Easting Northing RL Dip Azimuth Length Comment
BJ0008 299,355 6,566,675 431.0 -50.0 90.0 246.0 Assayed
BJ0009 299,410 6,566,775 431.0 -55.0 90.0 252.0 Assayed
BJ0010 299,388 6,566,775 431.0 -60.0 90.0 241.0 Assayed
BJ0011 299,445 6,566,848 431.0 -60.0 90.0 241.0 Assayed
BJ0012 299,395 6,566,850 431.0 -60.0 90.0 240.0 Assayed
BJ0013 299,388 6,566,925 432.0 -60.0 90.0 247.0 Assayed
BJ0014 299,931 6,566,857 431.0 -60.0 90.0 79.0 Assayed
BJ0015 299,873 6,566,857 432.0 -60.0 90.0 100.0 Assayed
BJ0016 299,831 6,566,855 430.0 -60.0 90.0 120.0 Assayed
BJ0017 299,791 6,566,857 430.0 -60.0 90.0 139.0 Assayed
BJ0018 299,752 6,566,855 430.0 -60.0 90.0 156.0 Assayed
BJ0019 299,928 6,566,934 432.0 -60.0 90.0 90.0 Pending¹
BJ0020 299,617 6,566,855 432.0 -60.0 90.0 80.0 Pending
BJ0021 299,565 6,566,855 432.0 -60.0 90.0 100.0 Pending
BJ0031 299,892 6,566,680 430.0 -60.0 90.0 90.0 Pending
BJ0032 299,852 6,566,680 430.0 -60.0 90.0 115.0 Pending
BJ0033 299,812 6,566,680 430.0 -60.0 90.0 140.0 Pending
BJ0034 299,772 6,566,680 430.0 -60.0 90.0 159.0 Pending
BJ0035 299,732 6,566,680 430.0 -60.0 90.0 180.0 Pending
BJ0036 299,955 6,566,780 431.0 -60.0 90.0 55.0 Pending
BJ0037 299,935 6,566,780 431.0 -60.0 90.0 223.0 Pending
BJ0038 299,915 6,566,780 431.0 -60.0 90.0 79.0 Pending
BJ0039 299,832 6,566,780 431.0 -60.0 90.0 120.0 Pending
BJ0040 299,790 6,566,780 431.0 -60.0 90.0 140.0 Pending
BJ0041 299,848 6,566,930 432.0 -60.0 90.0 127.0 Pending
BJ0042 299,768 6,566,930 432.0 -60.0 90.0 169.0 Pending
BJ0043 299,730 6,566,930 431.0 -60.0 90.0 79.0 Pending
BJ0044 299,675 6,566,930 431.0 -60.0 90.0 103.0 Pending
BJ0045 299,633 6,566,930 431.0 -60.0 90.0 120.0 Pending
BJ0046 299,909 6,566,960 432.0 -60.0 90.0 100.0 Pending
BJ0047 299,870 6,566,960 432.0 -60.0 90.0 120.0 Pending
BJ0048 299,830 6,566,960 432.0 -60.0 90.0 139.0 Pending
BJM002 299,737 6,567,480 438.0 -70.0 90.0 61.0 Precollar²
BJM003 299,914 6,566,856 432.0 -70.0 270.0 61.0 Precollar
BJM004 299,880 6,567,380 439.0 -90.0 90.0 55.0 Precollar
BJM005 299,852 6,567,542 415.0 -90.0 90.0 68.1 Precollar
¹ Pending denotes that drilling has been completed and the JV is awaiting for
assay results
² Pre-collar means only the top part of the hole has been drilled
A total of 4,401 samples have been submitted for assay from the start of the
programme including 3,844 routine samples, 370 standards and blanks and 187
duplicates. Assays have been received for 11 of the 36 holes drilled to date.
Every hole drilled to date has intersected significant mineralisation (see
Table 2) that is similar to the historic drilling and intersections compare
well with the current resource model. Typically multiple intersections of
mineralisation are present and as expected the drilling has intersected narrow
higher grade zones of mineralisation which lie within a large low grade halo
over a mineralised structure that is 500m wide. Higher grade intersections
include 11m at 2.92 g/t Au from 79m in BJ0009 and 9m at 6.85 g/t Au from 98m in
BJ0011.
A couple of holes have intersected gold mineralisation beneath the current
depth of the resource model (approximately 120m below surface) and these are
expected to add to the current resource base of the project. The Company
continues to investigate whether there is additional high grade mineralisation
in the Bacchus North area below the 120 metres level. There are several
historic high grade intersections in this area. So far only five new holes have
been drilled in this area to date and while all have encountered low grade
mineralisation it does not currently appear to form a continuous high grade ore
shoot. This area will require additional holes to be drilled in order to
ascertain the broader mineralisation in this area and the Company will report
on this as more information becomes available.
Table 2. Intersection summary from drill assays received to date.
Hole From (m) To (m) Length (m) Au grade (g/t) True Depth (m) Includes
BJ0008 57 59 2 0.32 37
BJ0008 70 74 4 0.77 45 1m @ 1.78g/t From 72m
BJ0008 80 91 11 0.98 51 1m @ 3.71g/t From 80m and 3m @ 1.14g/t From 87m
BJ0008 102 112 10 0.73 66 1m @ 3.54g/t From 111m
BJ0008 129 131 2 0.37 83
BJ0008 201 208 7 0.64 129 1m @ 2.95g/t From 207m
BJ0009 79 90 11 2.92 45 2m @ 9.63g/t From 83m and 1m @ 8.48g/t From 89m
BJ0009 98 103 5 0.44 56
BJ0009 118 122 4 0.57 68
BJ0009 136 138 2 0.78 78
BJ0009 200 202 2 0.52 115
BJ0009 234 240 6 1.07 134 1m @ 2.40g/t From 239m
BJ0009 247 250 3 0.57 142
BJ0010 75 90 15 0.67 38 1m @ 3.35g/t From 38m
BJ0010 96 102 6 0.79 48 1m @ 3.89g/t From 101m
BJ0010 217 220 3 1.83 109 2m @ 2.46g/t From 218m
BJ0011 57 60 3 1.18 29
BJ0011 69 74 5 0.72 35
BJ0011 98 107 9 6.85 49 1m @ 2.12g/t From 99m and 4m @ 14.40g/t From 103m
BJ0011 113 120 7 0.60 57
BJ0011 150 155 5 0.41 75
BJ0011 191 199 8 1.21 96 4m @ 1.78g/t From 195m
BJ0011 218 227 9 0.51 109
BJ0011 233 235 2 0.49 117
BJ0012 120 126 6 0.43 60
BJ0012 146 151 5 0.34 73
BJ0012 184 188 4 0.39 92
BJ0012 193 196 3 1.05 97 1m @ 2.03g/t From 195m
BJ0012 202 227 25 0.81 101 3m @ 2.41g/t From 215m and 1m @ 2.62g/t From 219m
BJ0013 149 152 3 0.74 75
BJ0013 203 205 2 1.10 102
BJ0013 225 227 2 0.43 113
BJ0014 37 40 3 0.45 19
BJ0014 52 60 8 0.67 26
BJ0014 62 64 2 0.40 31
BJ0015 38 64 26 0.64 19 1m @ 3.89g/t From 38m and 2m @ 1.37g/t From 43m
BJ0015 71 85 14 0.81 36 4m @ 1.63g/t From 76m and 2m @ 3.34g/t From 73m
BJ0016 36 38 2 0.95 18
BJ0016 47 53 6 0.31 24
BJ0016 62 68 6 0.48 31
BJ0016 73 76 3 2.33 37
BJ0016 82 101 19 1.30 41 4m @ 1.63g/t From 89m and 2m @ 1.54g/t From 97m
BJ0017 1 6 5 2.17 1 3m @ 3.39g/t From 1m
BJ0017 16 21 5 0.83 8 1m @ 2.46g/t From 16m
BJ0017 33 34 1 10.40 17
BJ0017 70 87 17 0.59 35 1m @ 3.41g/t From 70m
BJ0017 104 108 4 0.82 52
BJ0017 110 115 5 0.47 55
BJ0018 38 44 6 0.54 19
BJ0018 70 73 3 0.34 35
BJ0018 96 98 2 0.80 48
BJ0018 119 121 2 0.38 60
BJ0018 122 126 4 0.31 61
Metallurgy Drilling:
The programme of diamond drilling to collect samples for metallurgical test
work has started, with two holes located in the Phoenix pit drilled from
surface to 68.1m and to 113.4m depth respectively, for a total of 119.8m. It is
expected the remaining three drill holes for 150m will be completed in 6-7
shifts by the end of December. The core will then be logged, photographed and
selected 20-25m intervals (300kg) from each drill hole and will be transported
to the AMMTEC Laboratory before the Christmas break for the metallurgical test
work to start. A scoping design study and a review of hydrology requirements
for the processing plant have been commissioned to run concurrently with the
metallurgical test work. The key outcome of this work is to compare various
tonnage throughputs for a conceptual plant design within a 3-5 Mtpa range and
ultimately recommend a single throughput with an estimate of processing and
capital costs for this option. In addition, a sample of the bore water that
will be used in the planned plant at Bullabulling is required for the
metallurgical test work. Consequently, a part of the feasibility hydrology
programme including water sampling will be completed by Q1 2011.
Specific Gravity ("SG"):
As reported previously, the number and quality of bulk density measurements of
mineralisation were insufficient for upgrading the current resource category. A
wet-dry SG determination system has consequently been implemented that has
allowed the collection of 167 SG measurements from selected 1m intervals of
fresh mineralised and adjacent unmineralised core from the July 2010 diamond
drilling programme. The results so far indicate that the SG ranges from 2.6 to
3.1 in all amphibolite lithologies with an average of 2.9. The average SG used
by CSA Global for primary ore in calculating the resource tonnage was 2.6,
which consequently underestimates the tonnes of ore present in the resource
model.
The current Inferred Resource estimate will be upgraded once the QAQC results
have been analysed and a new resource model estimated to include the new infill
drilling results. The new resource is expected to include mineralisation below
the current Inferred Resource.
Technical information in the Company's news release has been reviewed and
approved by Dr. Jeffrey F. A. Malaihollo the Company's Managing Director, who
is a Fellow of the Geological Society of London.
Dr. Jeffrey Malaihollo Westhouse Securities Limited (Nominated Adviser)
Tel: 01992 531820 Tim Metcalfe / Martin Davison
www.gggresources.com Tel: 020 7601 6100
Gresham PR Collins Stewart Europe Limited (Broker)
Neil Boom John Prior / Adam Miller
Tel: 07866 805 108 Tel: 020 7523 8350
END
GGG Resources (LSE:GGG)
Historical Stock Chart
From May 2024 to Jun 2024
GGG Resources (LSE:GGG)
Historical Stock Chart
From Jun 2023 to Jun 2024
