Gold Exploration Update

Transcription

1 ASX Announcement 26 October 2009 Gold Exploration Update The Directors of D Aguilar Gold Limited (ASX Code: DGR) are pleased to provide the following update on the Rannes and Clermont gold exploration Projects held by its subsidiary Central Minerals Pty Ltd. Rannes Project Area Drilling has resumed at Rannes Central. Four holes have been completed at Porcupine, and the rig will shortly move to Double Scoop and Crunchie. Significant new gold targets have emerged at Police Camp Creek, approximately 12 kilometres south of Rannes Central. The surface gold values are similar to the main prospects at Central. Best gold and molybdenum soil and rock sample results are from an area some 200m southeast of the Brother Prospect previously drilled by Queensland Metals Limited in the early 1990 s (see Figures 1, 2 and 3). Figure 1: Location of Police Camp Creek, south of Rannes Central

2 RHYOLITE INTRUSIVES LIMIT OF SOIL SURVEY SOILS > 100 PPB AU SOILS > 3 PPB AU SOILS > 40 PPB AU SOILS > 10 PPB AU PREVIOUS DRILLING ( BROTHER ) THRUST FAULT 3.3 G/T AU 1.3 G/T AU 0.85 G/T AU 2.1 G/T AU FAULT ZONE CARBONATE SEDIMENTS POLICE CAMP CREEK STATUS SEPT. 09 RADIOMETRIC BASE ,000 N metres PERMIAN VOLCANICS NOT YET ROCK SAMPLED LIMIT OF SOIL SURVEY THRUST FAULT Figure 2: Initial Police Camp Creek Soil Geochemistry and Rock Sampling silver dominant in upper levels gold dominant in lower levels Figure 3: Schematic Model of Rannes Project Mineralisation Showing gold and silver zonation (not to scale)

3 Detailed work over the Crackling Rosie prospect (see Figures 1 and 4) has demonstrated that the gold (silver molybdenum) is hosted by a brecciated silicified limestone identical to Crunchie in appearance. The ground magnetics imagery indicates that the demagnetised gold bearing structure dips north easterly. No previous holes appear to have tested it. One hole (PD2) intersected 2.3 g/t Au through the breccia outcropping south of the demagnetised target. UNALTERED LIMY SEDIMENTS GOLD MINERALISED CRACKLIN ROSIE DRILLING TARGET - LATE 2009 BASED ON PREVIOUS DRILLING AND RECENT GEOCHEMISTRY AND GEOLOGY AREA PREVIOUSLY DRILLED ASSUMING A SOUTHWESTERLY DIP N SILICIEOUS BRECCIAS > 40 PPB AU IN SOILS PD2 > 10 PPB AU IN SOILS 2.3 G/T AU ON A GROUND MAGNETICS BASE GROUND MAGNETICS AND PD2 SUGGEST A NORTHEASTERLY DIP > 3 PPB AU IN SOILS DEMAGNETISED STRUCTURE metres ALLUVIAL COVER - DEEPER DRILLING TARGET Figure 4: Crackling Rosie Shoot Drilling Target (with previous drill result) Clermont Project Area New gold zones detected in sub soil sampling have emerged at Niagara north and Carrols Creek in the Clermont Project Area (for location relative to Rannes see Figure 5). The peak sub soil value of 9.8 g/t Au at Niagara North is a remarkably strong result given the lack of outcrop and the suppressing effect of post mineral cover soils (see Figures 6 and 7). An initial first pass drilling program on these prospects will be commenced after the current short program on the Rannes Central prospects at Porcupine Pie, Double Scoop and Crunchie is completed (refer Location Plan Figure 1).

4 Figure 5: Location of Clermont Project Area Figure 6: Clermont Project Niagara North Prospect on radiometric background

5 MUTATION AND CARROLS CREEK REGOLITH GOLD TARGETS MIXED SOIL COVER SOILS ( VOLCANIC ) RADIOMETRIC IMAGERY BASE MUTATION > 3 PPB AU > 6 PPB AU > 20 PPB AU ALLUVIAL COVER NO OUTCROP RESIDUAL SOILS PPB AU N N kilometres TO CLERMONT CARROLS CREEK Figure 7: Clermont Project Update on Mutation and Carrols Creek Prospects (radiometric background) On behalf of the Board K M Schlobohm Company Secretary * ppb = parts per billion ** ppm = parts per million, equivalent to grams per tonne Competent Persons Statement The information herein that relates to Exploration Results is based on information compiled by Nicholas Mather B.Sc (Hons) Geol., who is a Member of The Australian Institute of Mining and Metallurgy. Mr Mather is employed by Samuel Holdings Pty Ltd which provides certain consultancy services including the provision of Mr Mather as the Managing Director of D Aguilar Gold Ltd (and a director of D Aguilar Gold Ltd s subsidiaries). Mr Mather has more than five years experience which is relevant to the style of mineralisation and type of deposit being reported 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, Minerals Resources and Ore Reserves (the JORC Code). This public report is issued with the prior written consent of the Competent Person(s) as to the form and context in which it appears. For further information contact: Mr Nicholas Mather Mr Greg Runge Managing Director General Manager Ph: or Ph: or info@daguilar.com.au Electronic copies and more information are available on the Company website: