ASX Announcement 7 June 2011 Mt Isa Metals Ltd Drilling Recommences at Nabanga, Burkina Faso
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- Reynard Fitzgerald
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1 ASX Announcement 7 June 2011 Mt Isa Metals Ltd Drilling Recommences at Nabanga, Burkina Faso The Directors of D Aguilar Gold Limited (ASX Code: DGR) are pleased to draw the attention of shareholders to this morning s announcement by Mt Isa Metals Ltd (ASX: MET) entitled Nabanga Gold Prospect Drilling of High Grade Gold Discovery Re commenced. Shareholders are encouraged to read the full MET announcement which is attached. The announcement can also be viewed in full on the ASX website under the Mt Isa Metals code of MET, or in the Latest News section of the Mt Isa Metals website: D Aguilar Gold Limited holds 52 million shares in Mt Isa Metals Limited. On behalf of the Board KM Schlobohm Company Secretary About D Aguilar Gold D Aguilar Gold Limited is focused on generating exploration and development companies in a wide array of minerals. Projects are conceived directly through the skills and experience of D Aguilar s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary. Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary faster and less dilutive to D Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO). Investors can choose to invest specifically in a particular project/commodity, or by investing in D Aguilar, invest in the resource company generating business which retains a significant carried interest in each project. D Aguilar projects tend to be very large, targeting new provinces with the potential to make world class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub economic deposits into viable projects, D Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases looking at things from a new angle and with a different focus using state of the art techniques. The D Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D Aguilar.
2 D Aguilar currently holds 52 million shares (33%) in Mt Isa Metals Limited (ASX: MET) currently exploring for gold in Burkina Faso, 35.2 million shares (12.4%) in Solomon Gold plc (LSE: SOLG) currently exploring for gold and copper in the Solomons and Queensland, million shares (53%) in AusNiCo Limited (ASX: ANW) exploring for nickel sulphides, cobalt, gold and silver in south east Queensland, and 27 million shares (29%) in Navaho Gold Limited (ASX: NVG) exploring for Carlin style gold in Nevada (USA) and Queensland. D Aguilar is also progressing the corporate development of Archer Resources Limited which is focussing on the discovery and development of previously overlooked copper molybdenum gold porphyry systems in Queensland. Having appointed Dr Matt White as CEO, and finalised its $2 million seed raising, Archer Resources is also preparing for an IPO and ASX listing later in D Aguilar is also progressing the corporate and project development of Armour Energy Limited which has just completed a $14 million seed raising. Armour Energy is dedicated to the discovery and development of world class gas resources in an extensive new province in Northern Australia. The area currently under application covers 118,814km 2 of the McArthur, South Nicholson and Georgina Basins. An IPO is planned for D Aguilar Gold currently has 324,202,760 shares on issue. info@daguilar.com.au Electronic copies and more information are available on the Company website: For further information contact: Mr Nicholas Mather Karl Schlobohm Managing Director D Aguilar Gold Ltd Company Secretary, D Aguilar Gold Ltd Ph: Ph:
3 Mt Isa Metals Limited ACN Level 5, 60 Edward Street Brisbane QLD 4000 Australia ASX Announcement 07 June 2011 NABANGA GOLD PROSPECT DRILLING OF HIGH GRADE GOLD DISCOVERY RE COMMENCED Highlights: Reverse circulation drilling re commenced at the Nabanga gold discovery in south east Burkina Faso targeting high grade gold mineralisation. Phase 1 intersections previously reported 1 from Nabanga include: o 15.98g/t Au from 19m (in NARC003) o 14.01g/t Au from 26m (in NARC006) o 24.62g/t Au from 59m (in NARC011) o 13.88g/t Au from 17m (in NARC017) o 10.11g/t Au from 34m (in NARC030) o 11.36g/t Au from 36m (in NARC031) Nabanga deposit open along strike and untested below 50 metres depth. Initial 3,000 metre program designed to drill out the entire 3.6km length of artisanal workings on 200 metre spaced cross sections to 60 metres vertical depth. Subsequent drilling to complete further infill cross sections and to test high grade gold zones to 200 metres vertical depth. Drilling now in progress (simultaneously) at three separate gold prospects in Burkina Faso. The Board of Mt Isa Metals Limited (MET) is pleased to announce that a significant program of reverse circulation (RC) drilling has commenced at the Nabanga Gold Prospect located in southeast Burkina Faso (figure 1). The Company considers that the Nabanga Gold Prospect presents a significant opportunity for the definition of a substantial gold deposit. High grade gold mineralisation has been defined over a 3.6 kilometre strike length. The gold mineralisation is open ended along strike and untested below 50 metres vertical depth. 1 Refer ASX release Nabanga Gold Discovery dated 20 January ASX Code: MET 1
4 Figure 1 Location of MET Burkina Faso exploration permits / projects (excludes applications). Nabanga Gold Prospect The Nabanga Gold Prospect is located in south east Burkina Faso and lies within the Company s Yactibo Project area (Nabanga permit). The Nabanga deposit is defined at surface by a shallow northeast trending zone of artisanal gold workings that extend over a 3.6 kilometre strike length. In early 2011 MET reported assay results for the maiden drilling program at Nabanga which comprised twenty one RC drill holes. The drilling program was designed to test the Nabanga structure along the full length of the artisanal workings on approximate 300 to 400 metre spaced sections and to a maximum vertical depth approximately 50 metres from surface. Gold mineralisation above 0.5g/t was recorded in every drill hole completed at Nabanga confirming a significant gold mineralised system (figure 2). Drill intersections included some very high grade assay results in the central quartz vein (ie: multi ounce intersections over 1 metre sample widths) and additional high grade (+10g/t Au) intersections in both hangingwall and footwall positions relative to the interpreted main vein/structure (figure 3). Significant drill intersections recorded from the phase 1 (maiden) drilling program included: 15.98g/t Au from 19m (in NARC003) 14.01g/t Au from 26m (in NARC006) 24.62g/t Au from 59m (in NARC011) 13.88g/t Au from 17m (in NARC017) 10.11g/t Au from 34m (in NARC030) 11.36g/t Au from 36m (in NARC031) The phase 1 drill assay results confirmed Nabanga as a significant new high grade gold discovery. ASX Code: MET 2
5 Phase 2 Drilling As a result of the success of the maiden drilling program the Company has elected to implement an expanded phase 2 drilling program at Nabanga which will include: an initial drill out of the structure on 200 metre spaced cross sections to an approximate 60m vertical depth (to identify higher grade shoots ), to be followed by further infill drilling of the structure on 100m spaced cross sections, in conjunction with deeper drilling to 200 metres vertical depth The location of the planned drill holes for the initial phase 2 drilling (on 200 metre spaced cross sections) is shown at figure 2. Commencement of the phase 2 drilling program had previously been delayed due to a requirement to secure an alternate drilling contractor and mobilise an additional drill rig to Burkina Faso. Multiple Drill Programs Currently in Progress Following the commencement of drilling at Nabanga the Company is pleased to advise that drilling is now simultaneously in progress at three separate prospect areas across Burkina Faso. These areas, shown in figure 1, comprise: Bantou Prospect phase 2 RC drilling to follow up high grade gold intersections along a 500 metre strike length of gold workings (Kongolokoro Project south west Burkina Faso) Kamsongo Prospect RAB drilling of +20ppb gold in soil geochemical anomalies (Yactibo Project area south east Burkina Faso) Nabanga Prospect phase 2 RC drilling of high grade gold discovery (Yactibo Project area) Given the significant drill metres involved in the current drill programs it is intended that the assay results will be reported on a periodic basis. For further information please contact: Mr Peter Spiers Managing Director Ph: (07) or Mr Peter Harding Smith Company Secretary Ph: (07) or info@mtisametals.com.au Further information on Mt Isa Metals can be found on our website Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Mr Peter Spiers B.Sc (Hons) Geol., who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Spiers is a full time employee of the company. Mr Spiers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Spiers consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. ASX Code: MET 3
6 Figure 2 Nabanga Prospect Phase 1 drill results and location of initial phase 2 drill holes. ASX Code: MET 4
7 NARC g/t Au 3.00g/t Au 2.53g/t 25 26m 0.21g/t 26 27m 0.36g/t 27 28m 0.95g/t 28 29m 1.10g/t 29 30m 7.16g/t 30 31m 4.27g/t 31 32m 0.16g/t 32 33m 2.21g/t 33 34m 11.00g/t 34 35m NARC g/t Au 14.01g/t Au 0.02g/t 25 26m 2.85g/t 26 27m 15.95g/t 27 28m 14.35g/t 28 29m 9.75g/t 29 30m 60.20g/t 30 31m 4.73g/t 31 32m 3.56g/t 32 33m 0.65g/t 33 34m 0.39g/t 34 35m NARC g/t Au 10.11g/t Au 0.81g/t 34 35m 0.28g/t 35 36m 28.40g/t 36 37m 12.10g/t 37 38m 1.59g/t 38 39m 32.80g/t 39 40m 2.41g/t 40 41m 2.45g/t 41 42m 0.30g/t 42 43m 0.37g/t 43 44m Figure 3 Nabanga Permit RC drill chips from selected phase 1 drill holes showing high grade central quartz vein and adjacent high grade gold assays. ASX Code: MET 5
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