Sydney, April 1, 2008 AEST (ABN Newswire) - The Board of Republic Gold ("Republic" or the "Company")(ASX: RAU) today announces that the Company's technical team has built a computer model for the Burraga Polymetallic Project in Central New South Wales. The new model provides multiple targets for the 2008 drilling field season with copper & gold and silver, lead & zinc targets to be drilled.
The model indicates the potential that the Company saw in the project from the 2007 drilling programme and confirms the potential for a large scale body of mineralisation at Burraga, with the recent drilling showing that the mineralised strike length is over 2,400 metres. In 2008 the Company will target the deeper Cadia-style porphyry system that is suggested from work to-date.
Drilling will also target a near surface lead-zinc system indicated by the 2007 drilling and previously untested.
The modelling has incorporated all the 14 levels of old Lloyd's underground working, both from the early 20th Century and from the 1980's. Drilling data from the Company's 2007 field season has been included as well as an extensive drilling database from the 1980's. Numerous crosscutting faults have been recognised in the model which indicate the structural complexity of the mineralised system and provide indications as to where potential blocks of mineralisation may have been displaced to.
Both the drilling information and the surface geochemistry now indicate a distinct zonation of metals. The untested lead and zinc mineralisation occurs to the west of the copper and gold mineralisation. The strike length of the lead and zinc zones are more coherent and extensive than those of the copper and gold and may be controlled by stratigraphy. All of the historic work on the project has concentrated on the copper and gold areas. The model has demonstrated the presence of a number of near surface targets for lead and zinc mineralisation that have not been targeted previously. The Company's 2007 drilling distinctly shows up this metal zonation.
The Company is planning on a two-fold drilling strategy for the 2008 field season. A programme of 3,000 to 5,000 metres of relatively shallow drilling will target the newly recognised lead and zinc potential and also the known copper and gold areas to attempt to generate a resource at Burraga. A programme of 2,000 to 3,000 metres will target the deeper, +200 metres, Cadia-style porphyry potential of the project. A number of very distinct magnetic high features remain untested and will be tested with this programme.
Republic Gold's Technical Director, Mr Neb Zurkic said "Having worked for a number of years at world-class polymetallic projects, I am very pleased with the results of the modelling and the significant potential of the Burraga Project. I am eagerly awaiting the commencement of this Stage 2 drilling programme."
The Burraga exploration licence is owned in partnership with Republic's 25% joint venturer, Astor Consultants Pty Limited.
JORC Code Compliance Statement
Information in this report that relates to Exploration Results is based on information compiled by Mr Neb Zurkic, Mr Chris Roberts and Mr John Kelly, who are all members of the Australasian Institute of Mining and Metallurgy. Messrs Zurkic and Kelly are directors of the Company and Mr Roberts is the Chief Geologist of the Company and have a minimum of five years experience relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as Competent Persons as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Zurkic, Mr Roberts and Mr Kelly consent to the inclusion in this report of the matters based on information provided by them and in the form and context in which it appears.
Contact
John Kelly
TEL: +61-418-577-759
or
Tony Nagy
TEL: +61-413-645-126
E-mail: info@republicgold.com.au
Web: www.republicgold.com.au
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