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Bulletin Resources discovers near surface high grade gold lode north of Nicolson’s


Bulletin Resources (ASX: BNR) has uncovered a near surface high grade gold lode from reconnaissance rotary air blast drilling at its 100% owned Nicolson’s Gold Project.

The discovery is to the immediate north of Nicolson’s Main Lode, located near Halls Creek in northern Western Australia, and represents a high priority target for its 2012 drilling program.

Highlights include:

- 2 metres at 44.4 grams per tonne (g/t) gold from 51 metres; and
- 3 metres at 11.9 g/t gold from 39 metres, including 1 metre at 32.4 g/t gold from 40 metres.

Infill drilling in the Wagtail South pit continues to outline shallow mineralisation with best intersections including: 4 metres at 9.8 g/t gold from 45 metres and 3 metres at 3.5 g/t gold from 20 metres.

The results will be incorporated into the company's updated resource model early in the New Year.

The project is estimated to host an Indicated Resource of 737,800 tonnes at 5.55g/t gold for about 131,700 ounces of gold and an Inferred Resource of 647,000 tonnes at 5.61g/t gold for about 116,800 ounces of gold (total of 1.38 million tonnes at 5.58g/t gold for 248,500 ounces gold).

Also located on the project is a 120,000 tonnes per annum processing facility currently under care and maintenance. The company is aiming to advance the project to the stage of decision to mine.

Quick facts: Bulletin Resources

Price: 0.075 AUD

Market: ASX
Market Cap: $13.45 m

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