Seiga gold drilling results
June 19 2006 - 3:01AM
UK Regulatory
RNS Number:7719E
Gippsland Limited
19 June 2006
19 June 2006
Gippsland Limited ("Gippsland" or the "Company")
+++++++++++++++++++++++++++++++++++++++++++
SEIGA GOLD DRILLING RESULTS
+++++++++++++++++++++++++++++++++++++++++++
Further results from RC drilling at Seiga in Wadi Allaqi return additional
significant gold intersections
* Hole CRC041 22m @ 1.74g/t Au
* Hole CRC040 28m @ 1.14g/t Au
* Hole CRC033 12m @ 1.80g/t Au
* Hole CRC029 6m @ 2.15g/t Au
* Hole CRC028 3m @ 1.32g/t Au
* 800m long gold mineralised zone
Initial drilling programme re-confirms the extension at depth and 800m strike
length of the highly encouraging surface gold results.
+++++++++++++++++++++++++++++++++++++++++++
Following the announcement of 1 June 2006 detailing results (Appendix A) of the
initial 26 holes, Gippsland (ASX & AIM: GIP) today announces the results for the
remaining 19 holes from the reverse circulation (RC) drilling completed during
May 2006 at the Seiga gold prospect at Wadi Allaqi, Egypt.
The 19 holes were drilled to the south-east of the ancient Seiga workings and
tested surface anomalies detected previously by trenching. These holes tested a
300m section of the shear zone in an area where there are no previous workings.
Five of the holes intersected significant gold mineralisation (greater than 0.5g
/t Au over 4m) with the best results being 28m at 1.14g/t Au (CRC040) and 22m at
1.74g/t Au (CRC041) in adjacent holes. Many of the holes containing significant
intersections ended in mineralisation indicating that the intersection widths
are minimum widths that will require additional testing.
Hole CRC040 located 450m along strike to the south-east of the ancient workings
intersected 28m at 1.14g/t Au between 0 to 28m. Hole CRC041 which was drilled
15m to the west of CRC040 intersected 22m at 1.74g/t Au from 8m to the end of
the hole with the last 4m of the hole containing 2.54g/t Au.
Of particular significance are the wide intersections recorded in holes CRC040
and 041 as these two holes are adjacent to each other and indicate a mineralised
zone of at least 25m horizontal width at an average grade of 1.4g/t Au. This
area is located 450m along strike to the south-east of the ancient Seiga
workings.
Hole CRC033 located 300m along strike to the south-east of the ancient workings
intersected 12m at 1.80g/t Au from 48m to the bottom of the hole at 60m.
Hole CRC028 located 200m along strike to the south-east of the ancient workings
intersected 1.32g/t Au in the last 3m of the hole at 21m. Hole CRC029 located
15m to the west of CRC028 intersected 6m at 2.15g/t Au also at the bottom of the
hole at 30m.
Significant gold mineralisation has now been confirmed over a strike length of
800m of the Seiga shear. Considerable potential exists beyond the zone tested to
date as significant mineralisation occurs at both ends of the shear. Further
drilling will be required to the north-west and south-east to determine the full
extent of the mineralisation. Drill pads to test a further 700m of the shear to
the north-west have been prepared. Similarly drill pads have been prepared to
test 400m of the shear to the south-east.
Gippsland Executive Chairman Jack Telford stated "Only a small length of the
Seiga shear has been tested to date and these encouraging results indicate that
there is a high probability of locating additional significant zones of gold
mineralisation elsewhere along the shear. The Wadi Allaqi drilling programme
continues to produce positive results and we now await the analytical data for
the drilling undertaken at Shashoba 6km to the south-east of Seiga."
RJ (Jack) Telford
Executive Chairman
For further information please contact:
Jack Telford
Gippsland Limited
www.gippslandltd.com
Tel: +61 (0)8 93898611
jtelford@gippslandltd.com
Laurence Read / Leesa Peters
Conduit PR
Tel: +44 (0)20 7429 6605
leesa@conduitpr.com
laurence@conduitpr.com
Les Polden / Luke Cairns
Hoodless Brennan Plc
Tel: +44 (0)20 7538 1166
L.Polden@HBcorporate.com
L.Cairns@HBcorporate.com
Note: In accordance with Listing Rule 5.6 of the Australian Stock Exchange
Limited, 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 an Executive 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.
Appendix A
The 4m composite samples were analysed by Genalysis Laboratory Services in Perth
by Atomic Absorption Spectrometer (AAS). Samples containing greater than 1g/t Au
were re-analysed by Fire Assay (FA).
Table 1: Seiga prospect - Listing of all significant gold assays
Hole From (m) To (m) Interval (m) Au (AAS) Au (FA)
----------- ----------- ---------- ---------- ---------- ----------
CRC028 18 21 3 1.49 1.32
----------- ----------- ---------- ---------- ---------- ----------
CRC029 24 28 4 1.36 1.37
CRC029 28 30 2 2.01 1.86
----------- ----------- ---------- ---------- ---------- ----------
CRC033 48 52 4 3.12 2.98
CRC033 52 56 4 1.84 1.73
CRC033 56 60 4 1.02 0.7
----------- ----------- ---------- ---------- ---------- ----------
CRC040 0 4 4 0.87 -
CRC040 4 8 4 2.13 1.92
CRC040 8 12 4 1.38 1.35
CRC040 12 16 4 1.26 1.11
CRC040 16 20 4 1.4 1.42
CRC040 20 24 4 0.64 -
CRC040 24 28 4 0.64 -
----------- ----------- ---------- ---------- ---------- ----------
CRC041 8 12 4 0.6 -
CRC041 12 16 4 0.89 -
CRC041 16 20 4 2.21 2.3
CRC041 20 24 4 1.3 1.36
CRC041 24 28 4 2.04 1.87
CRC041 28 30 4 2.75 2.54
----------- ----------- ---------- ---------- ---------- ----------
Table 2: Seiga prospect - collar specifications for holes containing significant
gold values
Hole Easting Northing Azimuth Dip Depth (m)
----------- ----------- ---------- ---------- ---------- ----------
CRC028 616234 2493864 60 -58 21
CRC029 616220 2493857 60 -59 30
CRC033 616250 2493768 60 -60 60
CRC040 616343 2493641 60 -60 36
CRC041 616336 2493641 60 -60 30
----------- ----------- ---------- ---------- ---------- ----------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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