Summary COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 19 JULY 2011

Transcription

1 TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED Market Cap approx $M at 9.c per share DATE: 9 JULY 0 DIBETE DRILLING INTERSECTS SIGNIFICANT MINERALISATION ON SEVERAL STRUCTURES The Board of BML has now received the latest drill results for the 000 drill progra copleted at the Dibete prospect in Botswana (PL/9) Suary Soe of the ost significant intercept results fro the recent drilling include (see Table Cu 9.9g/t Ag fro in DBRC08 8.% Cu 9g/t Ag) Cu g/t Ag fro in DBRC08 Cu.5g/t Ag fro Cu 0.9g/t Ag fro Cu g/t Ag fro in DBRC09 Cu 95g/t Ag fro Cu 7g/t Ag fro in DBRC % Cu.5g/t Ag fro ) Cu 87.g/t Ag fro in DBRC07 Cu 0g/t Ag fro in DBRC08 9.% Cu 8g/t Ag fro ) Significant Copper Silver ineralisation has been intersected along NW-SE trending structures, with ineralisation still open along both structures. The ineralisation associated with the line 00E structure reains open to the North, East and West with a current strike length of 50. Copper and silver has been intersected in both secondary ineralisation (around 8 to 5 depth) and in priary ineralisation (at around to 5) with best results fro this 000 RC drilling progra in hole DBRC 08 of at 8.% Cu and 9 g/t Ag fro which underlies Cu and g/t Ag fro in the sae hole. Best widths intersected in hole DBRC 08 with Cu and g/t Ag intersected fro in addition to the previously released intersection in DBRC 0 with 8 at.7% Cu and 9 g/t Ag The priary and supergene sulphide ineralised zone consists of chalcocite, pyrite, and bornite vein swars which are silver rich. The priary ineralisation ay extend at depth associated with a VTEM anoaly off to the south. This needs to be confired by additional drilling. Several other VTEM anoalies have now been interpreted fro the recently copleted Helicopter VTEM flight progra, which are yet to be fully tested. Extensive IP and VTEM anoalies reain partly tested at Dibete confiring potential is open at Dibete. Cash $M Issued Capital,77,8 ordinary shares 7,857,70 listed options at 0c Substantial shareholders. Verar Pty Ltd.0%. Bell IXL Investents Ltd 7.5%. Polarity B Pty Ltd.% Directors Mr Patrick Volpe (Chairan) Mr Massio Cellante (Non-executive Director) Dr Paul Woolrich (Non-executive Director) Registered Office Suite 5, Level, 0 Whitehorse Road Balwyn, Victoria, 0 P F Contact Pat Volpe P ABN

2 Details Results of the drilling at Dibete Copper - Silver prospect, Prospecting Licence /9 Botswana. Drill results A total of 9 Reverse Circulation (RC) drill holes for 000 etres were copleted at Dibete prospect during March to June 0. This progra (DBRC0-) was designed to assess the orientation and geoetry of the ineralisation intersected in 00 and also includes several holes at Dibete East. Details of this drilling are shown in Figures -. All RC holes were sapled at etre intervals, and analysed for Cu, Pb, Zn, Ni and Ag by ALS Cheex, Johannesburg South Africa. Significant results above a cut off grade of >000 pp Cu (0.%) are shown in Table together with the type of ineralisation intersected (e.g. supergene oxide, supergene sulphide or priary). Drill results for the 00 progra (Holes - ) are also included in Table for reference. Mineralisation Four types of ineralisation are evident fro this recent drilling progra and are related to the degree of oxidation:- copper is exposed at surface in outcrops, trenches and old workings, and typically up to 5 etres downhole. Mineralogy consists of alachite, azurite, and chrysocolla. This zone fors a blanket spreading out fro the underlying priary ineralisation. RC drill results typically show Cu enrichent concentrated between 8 to 5 etres in this zone. Topography, fluid pathways, and near surface water flow are believed to be the controlling factors on the distribution of the supergene enriched ineralisation. Current topography ay not be the sae as topography when the supergene ineralisation precipitated. A supergene sulphide transition zone is typically found fro about 5 to 8 etres downhole consisting of chalcocite and pyrite with inor alachite. Laboratory results show Cu values gradually increase through the transitional zone approaching the priary ineralisation. Fro approxiately 8 to etres downhole is a ixed priary and supergene sulphide zone consisting of chalcocite, pyrite, and bornite vein swars with traces of alachite seen on fractures. Assay results indicate the priary bornite vein swars, as well as the supergene ineralisation, have associated silver. Below etres there is a sulphide zone with pyrite and inor disseinated chalcopyrite. Sulphides are fresh with inor oxides along fractures.

3 Structural Control on the Mineralisation Preliinary interpretation of the RC assay and geological data was used to construct a wirefrae odel of the ineralised zones, as shown in Figures -. The wirefrae odel shows the orientation of copper ineralisation using a 000 pp (0.%) Cu cut off. Assays indicate the copper ineralisation, and in particular the bornite veins, have a high silver content. In Figure 5 the oxide and transitional zones are shown as green fro 0 to 8 etres downhole. The ixed supergene and priary sulphides zone are shown in purple generally fro 8 to etres downhole. The ineralisation is associated with quartz feldspar gneiss, aphibolite, garnet bearing aphibolite, and icaceous aphibolites. Folding and faulting within the Dibete prospect further coplicate the ineralised zones. Fro the odel the ineralisation is seen to pinch and swell, and to be uplifted or downthrown laterally between holes, This is due to local faulting and folding which is evident at the surface in outcrops and trenches. The ineralisation intersected is associated with north west - south east trending faults interpreted fro satellite iagery. However a regional VTEM survey conducted by African Metals highlighted anoalous zones running north east - south west across both the Dibete and Airstrip prospects parallel to regional tectonic strucure. The VTEM anoalies at Dibete lie down dip of the regional foliation fro the fault controlled supergene ineralisation and ay be the ultiate source of fault controlled ineralisation. Further evaluation of the VTEM anoalies will be undertaken to design deep drill holes to test this potential source. Dibete prospect has siilarities to the Airstrip prospect and ay be part of a larger ineralised syste encopassing the Airstrip prospect.5 k to the west-north-west. The area between these two prospects reains untested. Progress to date on the Dibete Prospect is leading towards defining a body of ineralisation that will have a resource estiation study carried out on it following the next phase of drilling. The close proxiity of the Airstrip and Dibete projects, which have siilar priary and supergene ineralisation, is considered to be very encouraging.

4 Figure. Location of drill holes and interpreted fractures at Dibete prospect. The green square is the area of detailed drilling shown in Figure. Supergene copper workings are shown in green. Holes with visible ineralisation logged have a yellow collar location.

5 Figure. Visible intersections of ineralisation outlined in brown. Note that ost outlined areas are not constrained by drilling to date and tend to have a north west trend.

6 Figure. Detailed drilling area around Line 00E, Dibete prospect. Supergene workings are shown in green. Holes with visible ineralisation logged have a yellow collar location. Blue traces are axes of ground EM anoalies which are coincident with the ain IP anoaly axis.

7 Figure. Plan view of the odeled copper ineralisation superiposed over the IP resistivity low anoaly. The IP anoaly trends north east while the ineralisation follows structures that trend north west.

8 Figure 5. Long section on local grid line 00E showing supergene oxide ineralisation in green and supergene sulphide and priary ineralisation in purple.

9 Figure. Cross Section through ineralisation located along local grid line 00E. Note the supergene copper ineralisation is approxiately etres wide and located at shallow depth.

10 Table. Significant Results fro Dibete Project >0.% Cut Off Grade. Hole ID Depth Depth To Interval Fro Avg Cu % Avg Ag g/t Mineralisation Type DBRD < DBRD DBRD DBRD DBRD <.0 < DBRD DBRD < DBRD priary DBRD DBRD DBRD DBRD DBRC DBRC DBRC Local Grid Line Line 0 Line 0 Line 00 Line 00 Line 00

11 Hole ID Depth Depth To Interval Fro Avg Cu % Avg Ag g/t Mineralisation Type DBRC DBRC DBRC Supergene +priary 8. 9 DBRC DBRC DBRC DBRC DBRC DBRC DBRC DBRC Priary DBRC DBRC DBRC Priary DBRC Local Line Grid line 00 Line 00 Line 00 Line 0 Line 0 Line 00 Line 00 Line 00

12 Hole ID Depth Depth To Interval Fro Avg Cu % Avg Ag g/t Mineralisation Type DBRC DBRC priary DBRC DBRC < DBRC DBRC Including DBRC DBRC DBRC DBRC DBRC DBRC DBRC DBRC Including Local Line Grid Line 00 Line 00 Line 00 Line 00 Line 00 Line 00 Line 00 Line 00

13 Hole ID Depth Depth To Interval Fro Avg Cu % Avg Ag g/t Mineralisation Type DBRC Priary DBRC Priary DBRC DBRC <0. DBRC <0. DBRC DBRC DBRC DBRC DBRC DBRC DBRC DBRC DBRC DBRC < <0. DBRC Local Grid Line Line 00 Line 00 Line 00 Line 00 Line 00 Line 00 Line 00

14 Hole ID Depth Depth To Interval Fro Avg Cu % Avg Ag g/t Mineralisation Type DBRC DBRC DBRC DBRC-. 0. DBRC DBRC DBRC.57.7 Local Grid Line Line 00 Line 00 Line 0 The inforation in this report that relates to Exploration Results is based on inforation copiled by Mr Peter Teby, a consultant eployed by Anpet Exploration Pty Ltd and a eber of The Australian Institute of Geoscientists. Mr Teby has sufficient experience that is relevant to the style of ineralization and type of deposit under consideration and to the activities which he is undertaking to qualify as a Copetent Person as defined in the 00 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Teby consents to the inclusion in this report of atters based on his inforation in the for and context in which it appears.