www.bullabullinggold.com
Bullabulling Gold Limited is an Australian and UK publicly quoted mining exploration company headquartered in Perth, Western Australia. The Company is the successor entity of GGG Resources plc.
Bullabulling Gold is the 50% owner of a large previously producing mine called Bullabulling. We will acquire the remaining 50% interest in the project under an Australian court approved scheme in April 2012, subject to shareholder and final court approval.
Located in the goldfields of Western Australia, Bullabulling is within easy commuting distance of the main gold mining centre of Kalgoorlie which is less than 80kms away on the main Perth Kalgoorlie highway. The project straddles the main highway with mains power and water running through it.
The company has presently 170 million shares in issue which will rise to circa 290 million shares once Bullabulling Gold Limited acquires the remaining 50% interest in the project.
GGG Resources says infill drilling on Bullabulling gold project is progressing well
GGG Resources (LON:GGG, ASX:GGB) said the phase two infill drilling programme on the Bullabulling gold project is progressing well, with results so far confirming the resource estimate, and exploration drilling is also underway.
Bullabulling is 65 kilometres south-west of Kalgoorlie in Western Australia's Yilgarn basin, and is being developed with joint venture partner Auzex Resources (ASX:AZX). The two companies are in the process of merging to form Bullabulling Gold Ltd. A new operating company, called BBG Management Ltd, has already been established.
The reverse circulation infill drilling programme started in mid-May 2011. There are currently three drill rigs infilling the historic drilling between the Phoenix and Hobbit pits to increase the confidence in the current resource base.
A key aim is to infill the drill spacing that allows the inferred resources in the resource estimate to be reclassified to an indicated resource category, which in turn will enable initial JORC compliant reserves to be established for the project.
The current reported JORC compliant mineral resource is 78,836,000 tonnes at 1.03 grammes per tonne gold for 2.60 million ounces contained gold at a 0.5 g/t Au cut-off.
Exploration drilling is also underway, including exploration targets to the south of the main Bullabulling Trend such as Sphinx, Edwards, Medusa, Gryphon, Kraken and Minotaur where previous shallow percussion drilling has intersected widespread gold mineralisation.
GGG reported it has received assays from 136 infill drill holes totalling 24,212 metres completed in July, August and September 2011. Results continue to confirm the resource estimate and geological model and of the 136 holes only three have not intersected mineralisation.
Better intersections from the Phase Two drilling include: 1 metre at 10.4 g/t Au from 54 metres in BJ0267, 5 metres at 8.75 g/t Au from 133 metres in BJ0349, 3 metres at 6.7 g/t Au from 152 metres in BJ0682, 1 metre at 9.66 g/t Au from 161 metres in BJ1216 and 1 metre at 22.3 g/t Au from 1 metre in BJ2197.
Planning of the deep exploration programme has continued. A review of the potential for using deep geophysical techniques to map the 3D geology at depth at Bullabulling has been completed. The detailed magnetic data acquisition will be carried out over the regional extent of the Bullabulling Trend and is expected to commence at the end of October.
