Wadi Allaqi Drilling Results
August 29 2006 - 3:01AM
UK Regulatory
RNS Number:1372I
Gippsland Limited
29 August 2006
29 August 2006
Gippsland Limited ("Gippsland" or "the Company")
+++++++++++++++++++++++++++++++++++++++++
WADI ALLAQI DRILLING RESULTS
* Gold up to 18.65g/t Au in high grade shoots
* 800m long zone of mineralisation defined by drilling
* 28m at 2.27g/t Au from surface in hole HRC034
+++++++++++++++++++++++++++++++++++++++++
Gippsland (ASX & AIM: GIP) today announces the results for the remainder of the
first-pass RC drilling programme completed at the Company's gold prospects at
Wadi Allaqi, Egypt.
SEIGA
Today's results from the Seiga one metre sampling intervals (see Appendix A)
show that the wide intersections are comprised of multiple mineralised zones
containing high grade (>10g/t Au) shoots. The 1m sampling of the previously
analysed 4m samples which contained significant gold mineralisation improved the
resolution of the distribution of the mineralisation and assisted with
understanding the geometry of the mineralisation.
The grade range for the 4m intervals in CRC012 was 1.06 to 16.40g/t Au between
28-56m compared to 0.30 to 17.56g/t Au for the 1m samples over the same
interval. Similar results were obtained from hole CRC013 for the interval
48-72m. The 4m samples varied from 3.45 to 10.47g/t Au compared to 0.09 to
18.65g/t Au for the 1m samples.
The presence of high grade shoots will require structural analysis to be
completed in order to predict the position of the down plunge extensions during
subsequent drilling programs. The prospectivity of the prospect is enhanced as
it is common for repetitions of deposits of this type to be located along shear
zones.
SHASHOBA
As previously announced on 26 June 2006 Shashoba has wide intersections of 32m
at 2.20g/t Au from 16m in hole SRC006, 48m at 1.93g/t Au from 12m in the
adjacent hole SRC007 and 4m at 1.33g/t Au in SRC008. These three intersections
adjacent to the main area of ancient workings, defined a 50m wide zone of
mineralisation greater than 0.5g/t Au.
Subsequently eight additional drill holes tested old workings in the north of
the eastern trend, ancient workings at the southern end of the western trend and
some small workings to the west. Seven of the holes intersected mineralisation
with the best result being 4m at 4.60g/t Au from 28m in hole SRC040.
Additional reconnaissance drilling (SRC023 to 038) testing geochemical targets
at selected sites along the shear zone intersected anomalous gold values in
seven of the RC drill holes.
Table 1 Shashoba - best drilling results
-------- --- ------- -------- -------- -------- ---- ------- -------- -------
Hole From Interval Gold Hole From Interval Gold
(m) (m) (g/t) (m) (m) (g/t)
-------- --- ------- -------- -------- -------- ---- ------- -------- -------
SRC001 12 4 4.65 SRC018 * 4 16 0.33
SRC002 16 4 0.94 SRC023 0 4 2.11
SRC003 8 4 0.72 SRC024 16 4 2.35
SRC005 4 12 0.51 SRC025 32 4 2.62
SRC006 * 16 32 2.20 SRC030 28 2 6.91
SRC007 * 12 48 1.93 SRC032 8 12 0.26
SRC008 * 40 4 1.33 SRC034 0 28 0.74
SRC012 * 0 12 0.26 SRC035 20 13 0.94
SRC014 * 8 20 0.94 SRC039 36 8 0.50
SRC017 * 4 8 1.06 SRC040 28 4 4.60
-------- --- ------- -------- -------- -------- ---- ------- -------- -------
* previously announced result
The high proportion of holes containing significant gold values is indicative of
the widespread mineralisation within the Shashoba shear system. Additional
drilling will be required to follow-up the anomalous intersections and also to
drill test the extensions to the shear zones.
HAIMUR
At Haimur 46 holes totalling 1,387m were completed. The majority of the holes
tested geochemical targets identified from previously completed regolith and
trenching programs. Five holes tested old workings at Haimur South and two holes
at Haimur North.
The best result was from hole HRC034 drilled below an ancient stope at Haimur
North and adjacent to a shallow shaft sunk by the Nile Valley Company in the
early 1900s. Hole HRC034 intersected 28m at 2.27g/t Au from the surface. Another
hole (HRC030) located 30m to the west intersected 2m at 6.91g/t Au from 28m to
the bottom of the hole and may represent the lateral continuation of the
mineralisation in HRC034. At Haimur South significant mineralisation was
intersected in two holes. Hole HRC043 intersected 20m at 0.71g/t Au from 4m and
HRC044 intersected 20m at 0.55g/t Au from 4m.
Testing of the regolith geochemical anomalies returned anomalous results in
thirteen of the 39 holes drilled. The results show a north-easterly trending
zone of anomalous drill results and are considered significant as the drilling
was widely spaced. The south-west part of the zone will require additional
drilling.
Table 2 Haimur - best drilling results
-------- ------- -------- --------- -------- ------- -------- ----------
Hole From Interval Gold Hole From Interval Gold
(m) (m) (g/t) (m) (m) (g/t)
-------- ------- -------- --------- -------- ------- -------- ----------
HRC008 0 8 0.34 HRC023 16 8 0.26
HRC009 12 8 0.35 HRC024 24 6 0.19
HRC010 8 4 0.23 HRC025 28 2 * 0.89
HRC012 0 4 0.19 HRC027 28 2 * 1.01
HRC013 16 4 0.47 HRC030 28 2 * 6.91
HRC016 8 4 0.11 HRC034 0 28 2.27
HRC019 28 2 * 0.20 including 8 20 3.71
HRC020 12 8 0.23 HRC043 4 20 0.71
HRC022 28 2 3.11 HRC044 4 20 0.55
-------- ------- -------- --------- -------- ------- -------- ----------
* end of hole
GARAYAT
At Garayat 12 holes were completed for a total of 456m. The drilling tested
shear structures adjacent to old workings at the old Garayat mine, Block A and
Wells Area E. The drilling intersected the shear structures which were weakly
mineralised with a best intersection of 4m at 2.17g/t Au in hole GRC011 at the
Wells Block E prospect. Not all of the proposed holes at Garayat were completed
prior to the break in drilling.
A break in the drilling program was made in mid-July to allow for modifications
to the drilling equipment which will result in an increased the daily drill
penetration rate. It is anticipated that drilling will re-commence in early
October.
GEOLOGICAL GRAPHICS
The announcement together with associated geological graphics may be viewed on
the Gippsland website www.gippslandltd.com via INVESTOR RELATIONS /
ANNOUNCEMENTS / ASX-LSE 06.08.29
Commenting today Jack Telford, Executive Chairman of Gippsland said: "Today's
results are part of an ongoing program of exploration that we have been
aggressively pursuing since the start of this year. The drilling completed to
date has identified numerous areas of significant gold mineralisation that we
shall look to develop into identified resources. Additionally considerable
strike lengths of the shear zones still remain to be drill tested elsewhere
within the project areas. Follow up drilling in these priority areas will
continue during the next four months and focus on expanding the quantity of
mineralisation identified to date.
I am exceptionally pleased with the progress we have made across the Wadi Allaqi
prospects and am confident that the drilling campaign scheduled to complete
prior to Christmas will build on the excellent gold results achieved to date."
RJ (Jack) Telford
Executive Chairman
For further information please contact:
Jack Telford
Gippsland Limited
www.gippslandltd.com
Tel: +61 (0)8 93898611
telford@gippslandltd.com
Laurence Read / Ed Portman
Conduit PR
Tel: +44 (0)20 7429 6605 / 6607
laurence@conduitpr.com
ed@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 and Part two of the AIM Guidance Notes for Mining, Oil and Gas
Companies, 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
Table 3 Seiga hole CRC012 - Results of 1m & 4m sampling
-------- -------- -------- -------- -------- -------- -------- --------
1m 4m 1m 4m
From To Au g/t Au g/t From To Au g/t Au g/t
-------- -------- -------- -------- -------- -------- -------- --------
24 25 1.58 44 45 2.39
25 26 0.10 0.91 45 46 6.63 3.5
26 27 0.10 46 47 1.44
27 28 3.87 47 48 1.45
-------- -------- -------- -------- -------- -------- -------- --------
28 29 3.13 48 49 3.78
29 30 3.38 2.11 49 50 1.84 2.5
30 31 2.80 50 51 1.69
31 32 0.88 51 52 2.94
-------- -------- -------- -------- -------- -------- -------- --------
32 33 11.17 52 53 7.16
33 34 17.12 16.4 53 54 3.00 1.06
34 35 1.44 54 55 0.3
35 36 1.00 55 56 1.99
-------- -------- -------- -------- -------- -------- -------- --------
36 37 1.38 56 57 1.43
37 38 0.96 2.25 57 58 0.95 0.96
38 39 1.39 58 59 0.63
39 40 11.18 59 60 0.12
-------- -------- -------- -------- -------- -------- -------- --------
40 41 2.21 60 61 0.80
41 42 1.34 1.42 61 62 1.28 0.93
42 43 0.56 62 63 1.01
43 44 0.05 63 64 0.18
-------- -------- -------- -------- -------- -------- -------- --------
Table 4 Seiga hole CRC013 - Results of 1m & 4m sampling
-------- -------- -------- -------- -------- -------- -------- --------
1m 4m 1m 4m
From To Au g/t Au g/t From To Au g/t Au g/t
-------- -------- -------- -------- -------- -------- -------- --------
44 45 0.05 60 61 1.71
45 46 2.25 0.88 61 62 3.14 4.01
46 47 0.61 62 63 13.73
47 48 1.43 63 64 16.38
-------- -------- -------- -------- -------- -------- -------- --------
48 49 1.4 64 65 18.65
49 50 0.33 3.45 65 66 12.46 10.47
50 51 0.57 66 67 5.62
51 52 4.99 67 68 1.83
-------- -------- -------- -------- -------- -------- -------- --------
52 53 6.17 68 69 3.71
53 54 3.04 4.38 69 70 5.69 4.46
54 55 0.49 70 71 0.9
55 56 0.5 71 72 0.09
-------- -------- -------- -------- -------- -------- -------- --------
56 57 1.18 72 73 0.1
57 58 4.15 4.49 73 74 0.06 0.77
58 59 1.75 74 75 0.1
59 60 2.96 75 76 1.2
-------- -------- -------- -------- -------- -------- -------- --------
Table 5: Collar specifications for holes referred to in the text
Hole Easting Northing Azimuth Dip Depth (m)
----------- ----------- ----------- ---------- ---------- ----------
Seiga
CRC012 616105 2494056 240 -58 69
CRC013 616091 2494101 240 -55 90
Garayat
GRC011 537829 2499583 75 -60 42
Haimur
HRC008 530689 2502803 130 -58 30
HRC009 530681 2502822 135 -57 30
HRC010 530887 2502800 140 -58 30
HRC012 530836 2502866 135 -60 30
HRC016 530960 2502958 135 -60 30
HRC019 530880 2503037 135 -60 30
HRC020 531038 2502959 135 -60 30
HRC022 530989 2503023 135 -60 30
HRC023 531196 2503064 135 -60 30
HRC024 531163 2503090 135 -60 30
HRC025 531136 2503112 135 -60 30
HRC027 531266 2503186 160 -60 30
HRC030 531301 2503181 135 -60 30
HRC034 531329 2503174 360 -60 30
HRC043 530688 2502367 140 -60 39
HRC044 530641 2502340 145 -60 39
Shashoba
SRC001 621643 2491105 270 -57 39
SRC002 621646 2491141 275 -57 39
SRC003 621638 2491067 270 -57 39
SRC005 621589 2490916 50 -56 39
SRC006 621899 2491399 50 -51 60
SRC007 621879 2491380 50 -54 60
SRC008 621855 2491366 50 -55 48
SRC012 621857 2491470 60 -60 81
SRC014 621965 2491907 300 -55 60
SRC017 621862 2491292 245 -57 21
SRC018 621891 2491304 240 -60 21
SRC023 621606 2491410 260 -58 42
SRC024 621625 2491410 265 -58 42
SRC025 621649 2491410 270 -58 42
SRC032 621754 2491344 265 -58 39
SRC034 621633 2491298 265 -55 37
SRC035 621655 2491300 270 -57 33
SRC039 621241 2491252 260 -54 51
SRC040 621250 2491166 270 -57 51
----------- ----------- ----------- ---------- ---------- ----------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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