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 expects Bullabulling gold resource update in coming months
GGG Resources PLC (LON:GGG, ASX:GGB) and partner Auzex Resources (ASX:AZX) plan to update the resource estimation for the Bullabulling gold project in the coming months, incorporating results from an ongoing infill and exploration drilling programme.
GGG said the phase two drilling work started in the quarter to end-September 2011 and aims to convert a significant portion of the inferred resources of the project in Western Australia into indicated resources.
The programme consists of 70,000 metres of infill drilling and 20,000 metres of exploration drilling. To date over 46,411 metres of drilling in 261 holes has been completed for the phase two programme.
In a quarterly activities report, GGG said results thus far continue to confirm and expand the current resource model and include new high-grade intersections.
Approximately 60 percent of mineralised intersections returned similar or better grades and/or widths than expected from the resource model and about 35 percent of the reported mineralised sections are similar to the current resource model.
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. Of the 2.6 million ounces of resource, 711,700 ounces are in the indicated category.
Bullabulling is 65 kilometres south-west of Kalgoorlie in Western Australia's Yilgarn basin, and is being developed with joint venture partner Auzex. 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.
Over the coming months, GGG also expects signing-off on capital costs, drilling of potential high grade targets, and completion of the pre-feasibility study for Bullabulling.
