GIP Gippsland

RNS Number:5763A
Gippsland Limited
07 July 2004



7 July 2004

Gippsland Limited ("Gippsland" or "The Company")

COPPER NICKEL RESULTS

Gippsland Limited has completed a review of unpublished exploration data for the
Company's recently acquired Abu Swayel Copper-Nickel project. The previous
exploration work comprises ten diamond drill holes and a shaft with a single
cross-cut all of which test an area of ancient workings.

Copper at Abu Swayel was mined by the ancient Egyptians from shallow open cut
workings which can be traced over a length of 180m. An ancient furnace, slag and
pottery remains are evidence that some on site processing of the copper ore was
completed. In the early part of the 1900s the Nile Valley Company sank a shallow
shaft with a cross-cut at the 22m level to test the vertical continuity of the
mineralisation.

In the early 1960s the shaft was deepened to 69m and ten diamond drill holes
were completed to test the down dip continuity of the mineralisation over a
strike length of 200m. Of the 1,205m of drilling completed, only 21 samples
ranging from 1-2m in length were assayed. Three of the holes returned
significant Cu and Ni values.

TABLE 1 - ABU SWAYEL - BEST Cu & Ni INTERSECTIONS

Location     From (m)      To (m)            Interval (m)    Cu (%)      Ni (%)

DH01           21.00       23.60                  2.6        1.16        0.24

DH02           25.70       29.95                 4.25        1.58        0.23

DH14           48.55       49.85                 1.30        2.23        0.20

Shaft          30.00       40.00                10.00        1.87        1.53

Cross-cut       7.50       15.50                 8.00        4.11        1.77

Except for geological mapping there has been no exploration outside of the
immediate vicinity of the ancient workings since the early 1960s. The results of
the previous exploration clearly show that mineralisation is present at grades
and over widths that would be readily detected by geophysical methods such as
electromagnetic ("EM") plus induced polarisation ("IP") techniques.

The Abu Swayel licence covers 16km2 of favourable stratigraphy along strike from
the old workings which have not been tested for Cu-Ni mineralisation. Much of
the area is covered by thin wadi sediments which can be readily explored by
means of ground geophysical methods.

An exploration programme of geological mapping, geochemical sampling, EM & IP
together with follow-up drilling of the geophysical anomalies has been prepared.

The Abu Swayel project which is located 160km southeast of Aswan is one of nine
projects in the Wadi Allaqi region of southern Egypt recently granted to
Gippsland. The other eight projects are for gold with most of the areas
containing historical gold workings. The Wadi Alkali region, which is readily
accessible via a bitumen road and wadi tracks, is located some 300km from the
Company's 98 Mt Nuweibi and 40 Mt Abu Dabbab tantalum-tin projects.

RJ (Jack) Telford
Executive Chairman

Note:
In accordance with Listing Rule 5.10 of the Australian Stock Exchange Limited,
the geological information in this report that relates to mineral resources and
ore reserves is based on information compiled by Gippsland Director Dr John
Chisholm, who is a Fellow of the Australasian Institute of Mining and
Metallurgy, with over 25 years experience in the mining industry.

For further information please contact:

Jack Telford
Gippsland Limited
Tel: +61 (0)418 911 928
jtelford@gippslandltd.com.au
www.gippslandltd.com.au

Bill Sharp
Hoodless Brennan & Partners Plc
Tel: +44 (0)20 7610 8565
Fax: +44 (0)20 7538 1625
bill.sharp@hoodlessbrennan.com

Leesa Peters/ Laurence Read
Conduit PR
Tel: +44 (0)20 7936 9095
Fax: +44 (0)20 7936 9100
laurence@conduitpr.com







                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
MSCUUUWCMUPCURM

Gippsland (LSE:GIP)
Historical Stock Chart
From Jun 2024 to Jul 2024

Gippsland (LSE:GIP)
Historical Stock Chart
From Jul 2023 to Jul 2024