Exploration Update
March 06 2012 - 2:00AM
UK Regulatory
TIDMGGG
GGG Resources plc
(the "Company" or "GGG")
Bullabulling Gold Project
New Gold Mineralisation identified at Gibraltar and
Deeps Exploration Update
Highlights - Gibraltar
* Initial exploration drilling at Gibraltar totalling 2,805m in 14 holes has
been completed.
* Assay results of new higher grade intersections include 13m at 2.87g/t Au,
7m at 3.12g/t Au, and 5m at 11.98g/t Au.
* Gibraltar zone is not included in the 3.2 MOz resource announced on 29
February 2012.
* Further drilling in Gibraltar is in progress.
Highlights - Deeps Exploration
* Data has been received from the recently completed seismic survey that
enhances the prospectivity of high grade mineralisation at depth along the
Bullabulling Trend.
* Recent detailed airborne magnetic and gravity surveys will be combined with
the seismic data to provide a 3D geological model of the Bullabulling gold
deposit.
* The techniques used in Deeps Exploration have given data that is
significantly more sophisticated than was previously available, which
increased our understanding of the geology and structural control on
mineralisation. This may increase the chance of delineating higher grade
material, should it be present.
Significant zone of mineralisation intersected at Gibraltar
The first phase of exploration drilling for higher grade mineralisation along
the regional Gibraltar trend has been completed with 14 holes drilled for a
total of 2,805m. Gibraltar is located approximately 7km south-east of the
Bullabulling Trend. Results have been returned for the first ten holes drilled
beneath the pit at Gibraltar where a significant zone of mineralisation was
intersected in an area where previous drilling had apparently closed off the
mineralisation, including 25m at 1.68g/t Au from 166m in BJ5066 (including 13m
at 2.87g/t Au from 166m), 2m at 2.62g/t Au from 114m in BJ5068, 7m at 3.12g/t
Au from 169m in BJ5009, and 5m at 11.98g/t Au from 120m in BJ5082. These
intersections may be from a new zone beneath the lode mined to date or is a
faulted down dip continuation. With either scenario there is the potential to
increase the resource at Gibraltar, which has higher grade continuity in the
near surface than mineralisation along the Bullabulling Trend.
Collar information of all holes drilled at Gibraltar to 17 February 2012 (14
holes for 2,805m), with assay results at a 0.3 g/t Au cut off (Tables 1 and 2).
The high grade results are from the same area to the south of the pit beneath
the current zone of mineralisation. There are holes to the north of the pit
that have previously recorded mineralisation that could correlate with the new
zone. The plan is to drill through the pit area beneath the previously mined
shoot.
After the completion of the initial Gibraltar drilling, the focus then moved to
South Bullabulling where a review of the soil geochemistry database, using
historical soil data in combination with photo-mapping of regolith, identified
six regional scale targets that have not been tested to date with drilling. The
aim of the exploration drilling is to test for regional extensions to known
mineralisation and to better define the geology, especially in the south. This
programme has now been completed results are pending. Drilling has now returned
to Gibraltar to expand the resources.
Deeps Exploration Programme
Preliminary results from the Deeps Exploration Programme geophysics have been
received and are currently being reviewed. The new data is significantly more
detailed than previously available data and will lead to a better understanding
of the geology and structure of the Bullabulling region. The most interesting
data received to date that has the potential to change the understanding of the
geology, and consequently the potential of the Bullabulling Trend for high
grade shoots, is the seismic data (Figure 1 and Figure 2). This is one of the
first times that this technique, which is routinely used in the oil industry,
has been used in exploration for gold mineralisation in the Eastern Goldfields
of Western Australia. The preliminary images confirm the controls on
mineralisation in the near surface, but, more importantly, suggest the presence
of feeder structures beneath the current low grade disseminated mineralisation
that forms the current resource. The seismic data when combined with the
detailed magnetic data and gravity data will provide new targets for
exploration and even at this early stage have increased the potential for new
discoveries to be made, especially to the east and directly underneath the
current resource.
A gravity data acquisition programme has been completed, and is expected to
provide complimentary information to the magnetic and seismic data. This data
will then be analysed to produce a number of filtered geophysical images,
unconstrained inversions over the Bullabulling Trend and a 3D geological and
structural interpretive model of the Bullabulling Trend. The detailed magnetic
data will be used in combination with 2D seismic data and gravity data to
develop a detailed 3D prospectivity model of the Bullabulling Trend to target
mineralisation at depth.
For information, contact:
David McArthur David Brook
GGG Resources plc (Australia) Professional Public Relations
(Australia Media)
41 Stirling Highway
Email: david.brook@ppr.com.au
Nedlands, WA, 6009
Tel: +61 8 9388 0944 / +61 433 112 936
Australia
Tel: +61 8 9423 3200
Dr. Jeffrey Malaihollo Westhouse Securities Limited
Managing Director, GGG Resources plc (UK Nominated Adviser)
(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 (Broker)
MD, Gresham PR Ltd (UK media) John Prior / Adam Miller
Tel: +44 7866 805 108 Tel: +44 20 7523 8350
Email:neil.boom@greshampr.co.uk
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 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.Auzex Resources Ltd and GGG Resources Plc are in
the process of merging into Bullabulling Gold Ltd.
Competent Person Statements
The information in this report that relates to the Exploration results, the
1998 Mineral Resource estimate and data that was used to compile the 2010 and
2011 Mineral Resource estimates is based upon information compiled by Dr.
Jeffrey Malaihollo who is a full-time employee of the Company and Fellow of The
Australasian Institute of Mining and Metallurgy and a Fellow of the Geological
Society of London. He is qualified as a Competent Person under the Code for the
Reporting Mineral Exploration Results, Mineral Resources and Mineral Reserves,
2004 ("The Reporting Code") prepared by the Australasian Institute of Mining
and Metallurgy and the Australian Institute of Geoscientists. Jeff Malaihollo
consents to the inclusion in the report of the matters based on his information
in the form and context in which it appears.
Figures 1 and 2 referred to in this announcement appear in the version of
this release available on the Company's website www.gggresources.com.
Table 1: Gibraltar Collar (BWX) information for RC drilling from January 8 to
February 17
Prospect Hole Easting Northing RL Dip AZ Length Date Comments
(m) Drilled
GB BJ5009 304875 6562794 433 -60 325.5 211 14/01/2012 Mineralised
GB BJ5010 304872 6562751 430 -60 353 235 16/02/2012 Pending
GB BJ5019 304770 6562841 427 -60 353 118 15/01/2012 NOT
Mineralised
GB BJ5040 304613 6562862 424 -60 353 199 16/01/2012 Mineralised
GB BJ5062 304470 6562839 423 -60 325.5 187 17/01/2012 Mineralised
GB BJ5063 304956 6562730 433 -60 353 247 15/02/2012 Pending
GB BJ5066 305041 6562739 431 -60 352.5 205 10/01/2012 Mineralised
GB BJ5068 305058 6562614 428 -60 352.5 259 19/01/2012 Mineralised
GB BJ5069 305114 6562750 430 -60 350 211 14/02/2012 Pending
GB BJ5077 305190 6562834 428 -60 352.5 211 12/01/2012 Mineralised
GB BJ5082 305323 6562841 428 -60 352.5 193 11/01/2012 Mineralised
GB BJ5098 305471 6562910 423 -60 352.5 163 13/01/2012 Mineralised
GB BJ5107 305619 6562928 419 -60 352.5 163 13/01/2012 NOT
Mineralised
GB BJ5287 305033 6562760 430 -57 353 203 12/02/2012 Pending
Table 2: Intersection summary from assays received from the Gibraltar
Exploration drilling
Hole From To Width Au g/t
(m)
(m) (m)
BJ5066 143.000 148.000 5.000 0.45
BJ5066 166.000 191.000 25.000 1.68
BJ5068 112.000 114.000 2.000 2.62
BJ5077 96.000 98.000 2.000 0.52
BJ5077 117.000 120.000 3.000 0.31
BJ5098 105.000 107.000 2.000 0.64
BJ5009 93.000 96.000 3.000 0.55
BJ5009 141.000 146.000 5.000 0.86
BJ5009 162.000 169.000 7.000 3.12
BJ5040 143.000 149.000 6.000 0.50
BJ5040 155.000 163.000 8.000 0.74
BJ5062 143.000 147.000 4.000 0.60
BJ5062 152.000 154.000 2.000 0.36
BJ5082 90.000 95.000 5.000 0.41
BJ5082 115.000 120.000 5.000 11.98
END
GGG Resources (LSE:GGG)
Historical Stock Chart
From Jul 2024 to Aug 2024
GGG Resources (LSE:GGG)
Historical Stock Chart
From Aug 2023 to Aug 2024