Seiga Gold JORC Resources
January 12 2007 - 3:35AM
UK Regulatory
RNS Number:4220P
Gippsland Limited
12 January 2007
12 January 2007
Gippsland Limited ("Gippsland" or the "Company")
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SEIGA GOLD JORC RESOURCES
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SUMMARY
* Wide zones of anomalous gold in rock-chip sampling (up to 80m at 1.76g/t Au)
* Discontinuous zones of mineralisation extended to over 1,200m of strike length
* Open along strike and at depth
* Intersection of 15m at 1.64g/t Au in hole CRC075 extends zone 300m to south
* Completion of preliminary JORC compliant resource estimate
+++++++++++++++++++++++++++++++++++++++++++
RC DRILLING
Gippsland (ASX & AIM: GIP) today announces the results of a further sixteen RC
holes from the second-phase drilling and geochemical sampling at the Company's
Seiga (A) gold prospect at Wadi Allaqi, Egypt. The drilling is part of
reconnaissance drilling to the north and south of the main zone of
mineralisation adjacent to historical workings along the Seiga shear zone. The
results of four reconnaissance holes (CRC087 - 090) located to the north and
south of the shear zone are still outstanding.
The drilling extends the known strike length of mineralisation within the shear
system for at least a further 300m to the south giving a total strike length of
at least 1,200m.
Table 1: Seiga - Summary of best drill intersections
Hole Intersection (m) Interval (m) Gold grade (g/t)
------------ ----------------- --------------- --------------
CRC074 1 - 16 15 0.61
CRC075 1 - 16 15 1.64
CRC077 4 - 8 4 0.51
CRC078 4 - 32 26 0.50
------------ ----------------- --------------- --------------
ROCK-CHIP SAMPLING
A programme of rock-chip sampling along sixteen profiles was completed at Seiga
as an aid to identifying parallel zones of mineralisation located to the east of
the ancient workings. The results of the sampling clearly identified the main
zone of mineralisation with profile CP12 containing 80m at 1.76g/t Au which
included 15m at 3.23g/t Au. The results of profiles CP19 to 21 are yet to be
received.
The sampling identified two separate zones of mineralisation located to the east
of the main zone over an interpreted strike length of approximately 800m. The
best result included 25m at 1.14g/t Au in the eastern part of profile CP15. This
anomaly is coincident with mineralisation previously intersected in holes CRC052
and CRC053 which returned values of 18m at 0.36g/t Au and 11m at 0.62g/t Au
respectively. Four separate zones of mineralisation have now been located at
Seiga.
Table 2: Seiga - Summary of best rock-chip results
Profile From - To (m) Interval (m) Gold grade (g/t)
------------ ----------------- --------------- --------------
CP10 10 - 25 15 1.59
CP11 60 - 70 10 1.64
CP12 5 - 75 70 0.51
including 15 - 30 15 0.50
40 - 75 35 1.99
CP15 115 - 120 5 4.34
CP16 30 - 45 5 0.80
------------ ----------------- --------------- --------------
JORC RESOURCE ESTIMATION
A preliminary resource estimation was completed by the Company's geologists for
a 525m strike length of the Seiga main zone incorporating the results of 25 RC
drill holes.
The inferred resources total 1.1Mt at 2.3g/t (uncut) and 2.0g/t (10g/t cut) to a
maximum depth of 150m and a global SG of 2.5 at a 0.7g/t cut-off. The estimation
method was by ore block modelling constrained within a wireframe model
interpreted from drilling along ten sections.
Table 3: Seiga Main Zone - Inferred Resources (B)
Cut-off (g/t) Tonnes (Mt) Au-uncut (g/t) Au-10g/t cut (g/t) Au (oz)
---------- ------------ ------------ -------------- ------------
1.0 0.8 3.0 2.5 76,000
0.7 1.1 2.3 2.0 85,000
0.5 1.5 1.7 1.6 93,000
0.4 1.9 1.6 1.4 98,000
---------- ------------ ------------ -------------- ------------
Figures in table may not tally due to rounding
The area included in the resource estimation comprises only a small part of the
mineralised shear system. As drilling progresses, additional resources are
expected to be defined below the current resources and also in close proximity
to the Seiga main zone, along the Seiga south zone and in the two eastern zones.
Drilling within the Seiga south zone mineralisation located to the southeast
which is at least 800m long and contains some previously reported intersections
that include 28m at 1.14g/t Au in CRC040, 22m at 1.74g/t Au in CRC041 and 12m at
1.18g/t Au in CRC069.
A further two mineralised zones have been identified by rock-chip sampling and
limited drilling located to the east.
The Director's are encouraged by the results of the resource estimation as they
show that the prospect has the potential for significant tonnages at mineable
grades.
Drilling is proposed to test the Seiga main zone at depth as this has the
potential to significantly increase the resources.
RJ (Jack) Telford
Executive Chairman
For further information please contact:
Jack Telford
Gippsland Limited
www.gippslandltd.com
Tel: +61 (0)8 9340 6000
jtelford@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 2 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
Composite samples were analysed by Genalysis Laboratory Services in Perth by
Atomic Absorption Spectrometry (AAS). Samples containing greater than 1g/t Au
were re-analysed by Fire Assay (FA).
Table 4 Seiga - Listing of all significant gold assays (>0.1g/t) during drilling
Hole From (m) To (m) Interval (m) Au_AAS (g/t) Au_FA1 (g/t)
---------- ---------- ---------- ---------- ---------- ----------
CRC070 1 4 3 0.18
CRC070 4 8 4 0.16
CRC070 8 12 4 0.58
CRC070 24 28 4 0.14
CRC070 32 36 4 0.2
CRC070 36 40 4 0.3
CRC070 40 44 4 0.15
CRC071 1 4 3 0.19
CRC071 4 8 4 0.12
CRC071 16 20 4 0.2
CRC071 20 24 4 1.15 1.1
CRC071 24 28 4 0.16
CRC071 28 30 2 0.44
CRC074 1 4 3 0.6
CRC074 4 8 4 0.4
CRC074 8 12 4 1.19 1.28
CRC074 12 16 4 0.26
CRC074 16 20 4 0.11
CRC074 20 24 4 0.13
CRC074 24 28 4 0.14
CRC074 28 30 2 0.2
CRC075 1 4 3 0.13
CRC075 4 8 4 6.2 5.57
CRC075 8 12 4 0.64
CRC075 12 16 4 0.23
CRC075 24 28 4 0.19
CRC076 20 24 4 0.13
CRC076 24 28 4 0.26
CRC076 28 30 2 0.12
CRC077 2 4 2 0.11
CRC077 4 8 4 0.51
CRC077 16 20 4 0.39
CRC077 20 24 4 0.16
CRC077 24 28 4 0.13
CRC077 28 30 2 0.14
CRC078 4 8 4 0.49
CRC078 8 12 4 0.21
CRC078 12 16 4 0.55
CRC078 16 20 4 0.57
CRC078 20 24 4 0.38
CRC078 24 28 4 0.28
CRC078 28 30 2 1.02 1.19
CRC079 8 12 4 0.27
CRC079 12 16 4 0.13
CRC080 0 4 4 0.12
CRC081 12 16 4 0.14
CRC082 8 12 4 0.7
CRC082 16 21 5 0.14
CRC084 8 12 4 0.1
Table 5 Seiga - Collar specifications for holes referred to in this report
Hole Easting Northing Azimuth Dip Depth (m)
----------- ----------- ----------- ---------- ---------- ---------
CRC070 616415 2493593 240 -61 51
CRC071 616500 2493464 60 -60 30
CRC072 616427 2493424 65 -60 30
CRC073 616450 2493434 65 -60 30
CRC074 616466 2493442 65 -60 30
CRC075 616483 2493451 65 -60 30
CRC076 616553 2493235 60 -60 30
CRC077 616573 2493244 60 -60 30
CRC078 616588 2493251 60 -60 30
CRC079 616611 2493259 60 -60 30
CRC080 616623 2493268 60 -60 30
CRC081 616640 2493273 60 -60 21
CRC082 616956 2492846 60 -60 21
CRC083 616974 2492853 60 -60 21
CRC084 616993 2492863 60 -60 21
CRC085 617010 2492871 60 -60 21
CRC086 617025 2492878 60 -60 21
CRC087 617046 2492887 60 -60 21
CRC088 617063 2492897 60 -60 21
CRC089 615576 2494739 60 -60 21
CRC090 615563 2494732 60 -60 30
CRC091 615629 2494650 60 -60 30
CRC092 615659 2494667 60 -60 18
CRC093 615684 2494676 60 -60 15
CRC094 615708 2494639 60 -60 15
CRC095 615737 2494509 65 -60 21
CRC096 615773 2494527 60 -60 21
CRC097 615809 2494548 60 -60 21
CRC098 615842 2494573 60 -60 15
CRC099 615829 2494347 60 -60 39
CRC100 615853 2494359 65 -60 39
CRC101 615868 2494366 60 -60 39
CRC102 615871 2494310 60 -60 90
CRC103 615944 2494259 60 -60 60
----------- ----------- ----------- ---------- ---------- ---------
Table 6 Seiga - Location of rock-chip sampling profiles
Profile Easting Northing Length (m) Azimuth
----------- ----------- ------------- ------------- ------------
CP8 615819 2494387 60 60
CP9 615868 2494333 60 60
CP10 615921 2494224 225 60
CP11 615958 2494158 225 60
CP12 615991 2494117 241 60
CP13 616123 2493959 180 60
CP14 616199 2493916 194 60
CP15 616234 2493864 175 60
CP16 616250 2493768 210 60
CP17 616301 2493668 170 60
CP18 616343 2493641 110 60
CP19 616343 2493541 163 60
CP20 616357 2493444 160 60
CP21 616385 2493401 153 60
----------- ----------- ------------- ------------- ------------
Table 7 Seiga Rock-chip sampling - significant gold assays (>0.1g/t)
Profile From (m) To (m) Au (g/t) Profile From (m) To (m) Au (g/t)
--------- ------- ------- ------- -------- -------- ------- --------
CP08 5 10 0.33 CP13 10 15 0.2
CP08 10 15 0.58 CP13 115 120 0.13
CP09 50 55 0.32 CP13 120 125 0.14
CP10 0 5 0.16 CP13 125 130 0.41
CP10 5 10 0.25 CP13 140 145 0.98
CP10 10 15 1.99 CP13 155 160 0.21
CP10 15 20 1.29 CP14 5 10 0.13
CP10 20 25 1.49 CP14 10 15 0.17
CP10 25 30 0.23 CP14 15 20 0.22
CP10 30 35 0.47 CP14 70 75 0.86
CP10 35 40 0.92 CP14 75 80 0.48
CP10 40 45 0.14 CP14 95 100 0.1
CP10 50 55 0.19 CP14 100 105 0.11
CP10 55 60 0.35 CP14 105 110 0.32
CP10 60 65 0.72 CP14 110 115 0.31
CP10 65 70 0.35 CP15 0 5 0.21
CP10 70 75 0.45 CP15 5 10 0.38
CP10 75 80 0.63 CP15 10 15 0.19
CP10 135 140 0.24 CP15 15 20 0.13
CP10 140 145 0.16 CP15 60 65 0.37
CP10 145 150 0.25 CP15 65 70 0.11
CP11 5 10 0.14 CP15 105 110 0.13
CP11 10 15 0.15 CP15 110 115 0.74
CP11 15 20 0.33 CP15 115 120 4.345
CP11 20 25 0.43 CP15 120 125 0.12
CP11 25 30 0.38 CP15 125 130 0.35
CP11 30 35 0.78 CP16 0 5 0.14
CP11 35 40 0.97 CP16 5 10 0.24
CP11 40 45 0.36 CP16 10 15 0.15
CP11 45 50 0.27 CP16 15 20 0.11
CP11 50 55 0.25 CP16 20 25 0.19
CP11 55 60 0.84 CP16 25 30 0.14
CP11 60 65 3.09 CP16 30 35 1.075
CP11 65 70 2.505 CP16 35 40 0.27
CP11 70 75 0.76 CP16 40 45 1.06
CP11 155 160 0.26 CP16 45 50 0.22
CP11 160 165 0.17 CP16 60 65 0.14
CP11 175 180 0.38 CP16 70 75 0.18
CP11 190 195 0.11 CP16 75 80 0.17
CP12 0 5 0.14 CP16 105 110 0.14
CP12 5 10 1.63 CP16 110 115 0.21
CP12 10 15 0.87 CP16 115 120 0.28
CP12 15 20 5.1 CP16 150 155 0.41
CP12 20 25 2.31 CP16 155 160 0.12
CP12 25 30 2.27 CP16 160 165 0.64
CP12 30 35 0.8 CP16 165 170 0.28
CP12 35 40 0.42 CP17 30 35 0.21
CP12 40 45 2.06 CP17 35 40 0.51
CP12 45 50 1.285 CP17 40 45 0.95
CP12 50 55 0.53 CP17 45 50 0.72
CP12 55 60 1.255 CP17 50 55 0.26
CP12 60 65 1.22 CP17 55 60 0.12
CP12 65 70 5.835 CP17 65 70 0.11
CP12 70 75 1.74 CP17 105 110 0.16
CP12 75 80 0.77 CP17 115 120 0.14
CP12 205 210 0.29 CP17 125 130 0.16
CP12 210 215 0.11 CP18 0 5 0.51
CP12 215 220 0.14 CP18 5 10 0.35
CP13 0 5 0.64 CP18 10 15 0.13
CP13 5 10 0.21
--------- ------- ------- ------- -------- -------- ------- --------
--------------------------
(A) The Company's Wadi Allaqi tenements, of which Seiga is a part, are the
subject of a 50:50 joint venture with the Egyptian Mineral Resources Authority.
(B) Resource estimation methodology and classification is consistent, unless
specifically stated to the contrary, with the Australasian Code for Reporting of
Exploration Results, Identified Mineral Resources and Ore Reserves and included
Guidelines to the Reporting of Identified Mineral Resources and Ore Reserves
(Code) as per the Joint Committee of the Australasian Institute of Mining and
Metallurgy, Australian Institute of Geoscientists and the Australian Mining
Industry Council (JORC) and dated December, 2004.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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