Gold exploration results
September 29 2005 - 3:00AM
UK Regulatory
RNS Number:8576R
Gippsland Limited
29 September 2005
29 September 2005
Gippsland Limited ("Gippsland" or "The Company")
+++++++++++++++++++++++++++++++++++++++++++++++
Gold Exploration Results
Seiga * 50 metres wide mineralised zone now containing
20 metres @ 7.40g/t Au and 20m @ 2.83g/t Au, plus
* 15.5 metres @ 9.25g/t Au
* 4.5 metres @ 6.69g/t Au
* 11 metres @ 10.29g/t Au
Haimur * 5 metres @ 44.5g/t Au
+++++++++++++++++++++++++++++++++++++++++++++++
The Directors are pleased to announce the results of trenching recently
completed at the Company's Wadi Allaqi project in south-eastern Egypt. The
exploration results compliment the highly encouraging geochemical sampling
results announced in May and June 2005.
Sixteen trenches totalling 1,540.5m were completed using a mechanical excavator
at Haimur and Um Garayat and a further six profiles totalling 303m were complete
by hand at Seiga.
SEIGA (GOLD)
Rock chip sampling in May 2005 at Seiga identified a 34.5m wide zone of gold
mineralisation across old workings which included 20.3m at 7.40g/t and 8m at
7.7g/t (CP1). A 20m shallow trench (CP2) located immediately to the west of the
rock chip profile returned 20m at 2.83g/t further extending the width of the
previously identified mineralised zone to 50m.
Rock chip sampling and shallow trenching along a profile 70m to the north (CP6)
returned 15.5m at 9.25g/t. The profile included 4.5m at 6.69g/t on the western
side of some old 4.5m wide workings plus 11m at 10.29g/t on the eastern side
where the sampling profile ended.
Three profiles consisting of rock chip sampling and shallow trenching were
completed to the south of CP1 at a spacing of between 40 and 77 metres. The
results although lower than those in profiles CP1, CP2 and CP6 are most
encouraging and include 16m at 0.97g/t in CP3, 8m at 1.58g/t in CP4 and 8m at
1.55g/t in CP5. A profile located 500m to the north returned a best value of 5m
at 0.12g/t.
The trenching programme determined that the gold mineralisation extends over a
length of 250 metres and is open to the north and south and in part to the east
and the west.
Table: 1: Seiga - significant profile results
Sample Interval (m) Gold (g/t)
Profile CP2
CP 2/000-004 4 1.06
CP 2/004-008 4 2.41
CP 2/008-012 4 2.71
CP 2/012-016 4 2.29
CP 2/016-020 4 5.67
Profile CP3
CP 3/024-028 4 1.36
CP 3/028-032 4 0.42
CP 3/032-036 4 0.72
CP 3/036-040 4 1.38
Profile CP4
CP 4/012-016 4 0.73
CP 4/016-020 4 1.02
CP 4/020-024 4 2.14
Profile CP5
CP 5/008-012 4 1.59
CP 5/012-016 4 1.51
Profile CP6
CP 6/030-035 5 0.90
CP 6/035-039.5 4.5 6.69
CP 6/044-050 6 10.09
CP 6/050-055 5 10.54
HAIMUR (GOLD)
A mechanical excavator was used to dig thirteen trenches at Haimur to test
regolith gold anomalies identified during the previous exploration sampling
campaign in May 2005 and the along strike extensions of historical workings at
Haimur South. The trenching results confirmed the presence of anomalous gold
values within the bedrock with a best intersection of 5m at 44.45g/t in trench
HT9.
The results are considered to be very encouraging as they confirm the presence
of anomalous gold in the bedrock closely associated with zones of shearing.
Table 2: Haimur - significant trenching results
Sample Interval (m) Gold (ppb) Gold (g/t)
Trench HT1
HT-1/028-032 4 174
HT-1/032-036 4 1080 1.14
Trench HT2
HT-2/016-020 4 137
HT-2/020-024 4 259
HT-2/024-028 4 135
HT-2/028-032 4 110
HT-2/032-036 4 245
Trench HT3
HT-3/004-008 4 166
HT-3/008-012 4 82
HT-3/012-016 4 129
HT-3/016-020 4 160
Trench HT4
HT-4/064-068 4 294
HT-4/068-072 4 69
HT-4/072-076 4 129
Trench HT5
HT-5/060-065 5 135
HT-5/065-070 5 228
HT-5/070-075 5 110
HT-5/075-080 5 89
HT-5/080-085 5 348
HT-5/085-090 5 126
HT-5/090-095 5 110
HT-5/095-099 4 207
Trench HT6
HT-6/080-085 5 110
HT-6/085-090 5 440
Trench HT7
HT-7/045-050 5 136
HT-7/050-054 4 117
HT-7/054-055 1 139
HT-7/230-235 5 684
HT-7/235-240 5 1461 1.37
Trench HT8
HT-8/060-065 5 152
HT-8/065-070 5 171
HT-8/070-075 5 786 0.73
HT-8/075-080 5 445
HT-8/080-085 5 385
HT-8/085-090 5 147
Trench HT8
HT-8/090-095 5 202
HT-8/095-100 5 209
HT-8/100-105 5 733
HT-8/105-110 5 302
HT-8/110-115 5 286
HT-8/115-120 5 271
HT-8/120-125 5 6320 2.26
HT-8/125-130 5 328
HT-8/145-150 5 11489 0.45
Trench HT9
HT-9/010-015 5 37838 44.45
HT-9/015-020 5 385
HT-9/020-025 5 227
HT-9/025-030 5 148
HT-9/060-065 5 179
HT-9/065-070 5 173
HT-9/070-075 5 170
Trench HT10
HT-10/020-025 5 132
HT-10/055-060 5 106
HT-10/060-065 5 107
Trench HT11
HT-11/050-055 5 116
UN GARAYAT (GOLD)
Three trenches were completed in the Um Garayat area with some low but
significant gold results in two of the trenches. A 55m long trench tested the
northern extension of the historical workings under the wadi sediments. The best
result was 5m at 0.26g/t within sheared bedrock.
A single trench was excavated at Block A located 1.8km to the north of the Um
Garayat workings. The assays included 7m at 0.76g/t at the eastern end of the
trench.
FURTHER EXPLORATION
The Company considers the above Wadi Allaqi gold exploration results to be
highly encouraging and compound the outstanding results announced during June
2005.
The Company is currently arranging to expedite the delivery of an RC rig to
Egypt to complete the drilling programme planned during the last quarter of
2005.
The Directors anticipate that further exploration at Seiga will greatly expand
the presently delineated gold mineralised zone which at present is open on three
sides.
WEBSITE
Please note that geological graphics associated with this announcement may be
viewed in the "Investor Relations" section of the Gippsland website.
RJ (Jack) Telford
Executive Chairman
For further information:
Jack Telford
Gippsland Limited
www.gippslandltd.com
Tel: +61 (0)8 93898611
jtelford@gippslandltd.com
Leesa Peters / Laurence Read
Conduit PR
Tel: +44 (0)20 7618 8708
leesa@conduitpr.com
laurence@conduitpr.com
Bill Sharp / Les Polden
Hoodless Brennan & Partners Plc
Tel: +44 (0)20 7610 8565
B.Sharp@HB-Corporate.com
L.Polden@HB-corporate.com
Note: The geological information in this report that relates to Exploration
Results, Mineral Resources and Ore Reserves is based on data compiled by Dr John
Chisholm, a Fellow of The Australasian Institute of Mining and Metallurgy. Dr
Chisholm who is a Director of Gippsland Limited with over 25 years experience in
the mineral industry including the evaluation of exploration data, mineral
resources and ore reserves, has consented to the issue of the information in
this report 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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