ASX/Media Announcement 14 July 2010

Transcription

1 ASX/Media Announcement 14 July 2010 HIGH-GRADE DRILL RESULTS FROM ANDY WELL EXTEND WILBER LODE Diamond drilling at Andy Well intersects visible gold in quartz lodes below MNRC006, extending the depth of the high-grade Wilber Lode to at least 110m. MNDD001 intersects 3 quartz lodes with visible gold from m o 42.72g/t including: o 38.07g/t, 83.19g/t and 64.27g/t MNDD002 intersects mineralised quartz lode from m o 3.75g/t MNDD004 intersects quartz lode with visible gold from m o 44.7g/t including g/t Wilber Lode open at depth below 110m indicating potential for a possible highgrade underground resource Infill RC drilling campaign at Wilber confirms continuity of Wilber Lode over 150m strike g/t from 6-15m in MNRC017, including 56.63g/t from 6-9m 6.29g/t from 57-60m in MNRC g/t from 72-78m in MNRC020, including 89.27g/t from 72-75m 15.03g/t from 12-18m in MNRC021 Doray Minerals Limited (ASX: DRM, Doray) is pleased to announce diamond drilling recently completed at Andy Well has intersected visible gold mineralisation in quartz lode below hole MNRC g/t from 42m announced previously) and confirms the continuation of the high-grade Wilber Lode to a vertical depth of at least 110m. MNDD001 was drilled as an extension to MNRC005, which failed to reach the intended target depth due to technical difficulties with the previous drill rig. MNDD001 intersected 3 separate mineralised quartz lodes, containing visible gold, within sheared mafic rocks from 107.5m to 111m down-hole (Figures 1 and 2). MNDD004 was drilled below MNDD001 (with a -70 degree dip) and intersected visible gold mineralisation in a 3m wide quartz lode from a down-hole depth of 120.7m. This intersection is very significant as it the deepest intersection of the Wilber Lode so far (Figure 4). Table 1 lists all significant results from the four diamond holes drilled at Wilber. Doray s Managing Director, Allan Kelly, highlighted the importance of these results. The two deepest diamond holes, MNDD001 and 004, confirm the continuity of the high-grade Wilber Lode to a depth of at least 110m below surface and the grades appear to be improving with depth. The very high-grade Wilber Lode currently remains open down-dip and down-plunge indicating the potential for a possible high-grade underground resource.

2 Mr Kelly also noted Gold mineralisation observed in these quartz lodes is spatially associated with chalcopyrite and tetrahedrite/tennantite rather than the ubiquitous pyrite seen throughout the surrounding host rock. According to Mr Kelly This observation provides Doray with an important targeting tool in looking for other similar lodes within the larger Andy Well project area. Wilber Lode Infill RC Drilling Campaign In addition to the diamond drilling campaign, Doray has completed an infill RC drilling campaign designed to outline the dimensions of potentially open pittable gold mineralisation at Wilber down to a vertical depth of approximately 100m. Several RC holes intersected strongly mineralised quartz lode on east-west sections through the centre of the Wilber zone, at down-hole depths from 8-78m. Table 2 lists significant results received so far and Figure 3 shows the recent drilling in plan. Highlights from this drilling campaign include: 22.83g/t from 6-15m in MNRC017, including 56.63g/t from 6-9m 2.73g/t from 39-42m in MNRC g/t from 57-60m in MNRC g/t from 72-78m in MNRC020, including 89.27g/t from 72-75m 15.03g/t from 12-18m in MNRC021 Results from this campaign suggest the Wilber Lode has a steeper northeasterly plunge than was interpreted from the previous drilling. Holes MNRC012 and 013 intersected weakly anomalous gold within the Wilber shear to the north east of MNRC006, whereas MNRC030, beneath these holes, intersected the mineralised Wilber Lode at depth. Figures 4 and 5 show the Wilber Lode in cross section, whilst Figure 6 shows an updated long section of the Wilber Lode, including the most recent results, and the presence of a felsic porphyry intrusive which interrupts the Wilber Lode in the vicinity of MNDD003. Importantly, the Wilber Lode remains open at depth on all drill sections so far. Table 2 lists significant results from this drilling campaign. Results of 1m re-splits on mineralised samples for these holes are expected within the next 2 weeks. Doray s immediate plan for Wilber is to continue to infill the potential open-pit resource with RC drilling, where necessary, whilst testing the potential for an additional underground resource with deeper diamond drilling. For further information, please contact: -ENDS- Allan Kelly Ann M Nahajski Managing Director Director Doray Minerals Limited AMN Corporate (0) info@dorayminerals.com.au ann@amncorporate.com About Doray Minerals Ltd Minerals explorer, Doray Minerals Limited (ASX: DRM, Doray) was established in August 2009 and listed on the ASX in February Doray is currently focused on exploring for large economic gold deposits in two of Australia s under-explored gold provinces: the Murchison Region of WA and the Central Gawler Gold Province in South Australia. About Andy Well The Andy Well prospect, located with the Meekatharra North project (Doray 80%), is approximately 45km north of Meekatharra in the Murchison region of Western Australia. Doray announced the discovery of the very high-grade Wilber Lode with its maiden drill programme in March The Wilber Lode is one of a number of NE-trending target zones currently being explored by Doray.

3 APPENDIX Table 1. Significant results from diamond drilling of Wilber Lode Hole Easting Northing Dip/Azimuth From/To (m) Interval (m) Grade (g/t) MNDD / * * * MNDD / MNDD / MNDD / * * * denotes visible gold observed NOTE: Core samples were assayed by 50g fire assay/aas with 0.01ppm lower detection limit. Table 2. Significant results from RC drilling at Wilber Hole Easting Northing Dip/Azimuth From/To Interval Grade (g/t) (m) (m) MNRC / MNRC /090 NSR MNRC /090 NSR MNRC /090 NSR MNRC /090 NSR MNRC /090 NSR MNRC / * including * MNRC / * MNRC / * MNRC / * including * MNRC / * MNRC /090 Awaiting results* MNRC /090 Awaiting results* MNRC /090 Awaiting results* MNRC /090 Awaiting results * denotes visible gold observed NOTE: Samples were initially assayed as 3m composites using standard aqua-regia digest/aas technique with 0.01ppm detection limit. Selected samples were subsequently re-sampled to 1m intervals and re-assayed by 50g fire assay/aas with 0.01ppm lower detection limit. Results are pending. Competent Person Statement The information in this announcement that relates to Exploration Results is based on information compiled by Heath Hellewell and Allan Kelly. Mr. Hellewell and Mr. Kelly are both members of the Australian Institute of Geoscientists and have sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which they are undertaking. This qualifies Mr. Hellewell and Mr. Kelly as Competent Persons as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Hellewell and Mr. Kelly consent to the inclusion of information in this announcement in the form and context in which it appears.

4 Figure 1. Drill core from MNDD001 showing two mineralised quartz lodes within silicified sheared mafic rocks. Figure 2. Close-up of quartz lode from MNDD001 showing visible gold (circled).

5 Figure 3. Plan of Wilber Zone showing location of most recent drilling.

6 Figure 4. Cross section mN showing mineralised quartz lode intersected in the two new diamond holes and open at depth. Figure 5. Cross section mN showing results of recent infill RC drilling and Wilber Lode open at depth.

7 Figure 6. Schematic NE-SW long section of the Wilber Lode showing recent drilling.