Bullabulling Gold Project - Drilling Update (3374V)
January 11 2012 - 2:00AM
UK Regulatory
TIDMGGG
RNS Number : 3374V
GGG Resources PLC
11 January 2012
11 January 2012
Bullabulling Gold Project
Completion of Phase II Resource Drilling Programme
GGG Resources Plc (AIM: GGG, ASX: GGB) and Auzex Resources Ltd
(ASX:AZX) are pleased to report that they have completed the Phase
II infilling drill programme at the Bullabulling gold project near
Kalgoorlie in the eastern goldfields of Western Australia.
The Phase II drill programme commenced on May 14 and was
completed on schedule on18 December 2011.
Under Phase II, a total of 425 holes were drilled for a total of
74,452m.The Joint Venture now awaits the results from the assays
which are expected in between four to six weeks' time. Resource
estimation work has commenced and will be completed once all the
results are received.
Phase II drilling has focused on infilling of the areas between
Phoenix and Bonecrusher pits, and has been at a drill spacing that
will allow for a substantial portion of the 1.9 million ounces of
Inferred resources reported in the last resource estimate
(announced on 12 August 2011) to be reclassified to the higher
Indicated resource category.
The current report JORC compliant mineral resource is 78,836,000
tonnes at 1.03 g/t Au (2.60 million ounces contained gold) at a 0.5
g/t Au cut off, of which 711,000 ounces are in the Indicated
category.
As previously reported to shareholders, drill results to date
continue to confirm the resource and geological model with
approximately 99% of the drill holes intersecting gold
mineralisation.
Drilling will now focus on exploration drilling at the Gibraltar
resource and along strike to the south along the Bullabulling
Trend, with the aim of discovering additional near surface
mineralisation.
The Joint Venture is also pleased to report that 2 D seismic and
aero-magnetic data acquisition have been completed over the entire
Bullabulling Trend. Acquisition of gravity data is planned in
January, which will be used with the magnetic and seismic data to
develop a 3D geological model of the Bullabulling Trend for
targeting high grade mineralisation at depth.
Contacts:
David McArthur David Brook
GGG Resources plc (Australia) Professional Public Relations
41 Stirling Highway (Australia Media)
Nedlands, WA, 6009
Australia Email: david.brook@ppr.com.au
Tel: +61 8 9423 3200 Tel: +61 8 9388 0944 / +61 433
112 936
------------------------------------------ ---------------------------------
Dr. Jeffrey Malaihollo Westhouse Securities Limited
Managing Director, GGG Resources (UK Nominated Adviser)
plc (UK) Tom Price / Martin Davison
Email: jeff.malaihollo@gggresources.com Tel: +44 20 7601 6100
Tel: +44 1992 531820
------------------------------------------ ---------------------------------
Neil Boom Collins Stewart Europe Limited
MD, Gresham PR Ltd (UK media) (Broker)
Tel: +44 7866 805 108 John Prior / Adam Miller
Email:neil.boom@greshampr.co.uk Tel: +44 20 7523 8350
------------------------------------------ ---------------------------------
Bullabulling Overview
The Bullabulling Gold project (Bullabulling) is a large tonnage,
low grade deposit with high grade shoots, associated with the
regional Bullabulling shear zone which extends over tens of
kilometres. The mineralised structure is 500m wide, consisting of
multiple west dipping low grade stacked zones with narrower higher
grade gold mineralisation. Bullabulling is located near Coolgardie
and approximately 65km south-west of Kalgoorlie, Western Australia.
Bullabulling has been previously mined producing about 371k oz Au
in the 1990's. The current programme focuses on the 6km portion of
the shear zone known as the Bullabulling Trend where previous
operations were concentrated. The focus for the Bullabulling joint
venture between Auzex Resources Ltd and GGG Resources plc is to
establish an initial reserve exceeding one million ounces gold to
commence production in 2015.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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