Brisbane, July 30, 2008 AEST (ABN Newswire) - The Board of Republic Gold Limited (ASX:RAU)("Republic" or the "Company") today announces the results of the recent Stage 1 drilling programme for the 2008 field season at the Tregoora and Northcote Gold Projects in Far North Queensland. At Tregoora 31 holes were drilled for 2,029 metres and 26 holes were drilled for 1,417 metres at Northcote.
Highlights:
Tregoora Far North Prospect:
- At Terrace Creek, 24m @ 8.30 g/t Au from 2m, including 11m @ 12.37 g/t Au;
- At the Midway Prospect, 6m @ 2.40 g/t Au; and
- At the Sleeping Giant Prospect, 18m @ 1.44 g/t Au.
Northcote Prospect:
- At the Tunnel Hill Prospect, 6m @ 2.12 g/t Au; and
- At the Leadingham Prospect, 8m @ 2.08 g/t Au.
The high grade Far North Prospect intersection is open to the north and follows up 8m @ 6.49 g/t Au from the 2007 field season 170 metres to the south.
Drilling at the Tunnel Hill Prospect demonstrated continuity of the mineralised trend over an additional 350 metres of strike length.
Stage 2 drilling programme for both Projects is planned to commence shortly.
Managing Director of Republic, Mr John Kelly said "Whilst the excellent intersection at Far North is a westdipping hole and is hence drilled largely down dip, it is a vindication of the faith the Company's geologists have in the Tregoora Project. We know from our previous corporate experience in Victoria what intersections of this tenor can develop into. Having followed up last season's best result with a booming intersection this season gives us great hope for this area. Once the Stage 2 programme is finished we will concentrate on a resource upgrade for Tregoora. There is no resource calculated for the Far North Prospect. With some good results in Stage 2 we should be able to add some respectable ounces, given the grades that have been encountered."
Mr Kelly added "The Company is pleased with the results from the Tunnel Hill Prospect where drilling was done over 350 metres of strike on a previously undrilled zone. Currently there is no resource calculated for this part of the Tunnel Hill Prospect. Although the results from the Leadingham Prospect were not as positive, there are still some holes to follow-up in the Stage 2 programme."
TREGOORA PROJECT
31 holes were drilled at Tregoora for 2,029 metres. Planning for the Stage 2 drilling programme has commenced and it is anticipated to commence shortly with approximately 1,000 metres to be drilled.
Terrace Creek Prospect
The Terrace Creek Prospect lies 4 kilometres to the north of the Retina Pit. Along with the Sleeping Giant Prospect, it lies on the +50 kilometre long Retina Fault, a major mineralising structure in the area. Drilling at Terrace Creek covers a strike length of 400 metres, with the high grade intersection in drillhole FN042 of 24m @ 8.30 g/t Au (interpreted to be down dip), being the northernmost hole on this prospect. Drilling has been carried out within a broad gold anomaly, with a number of holes intersecting low grade mineralisation.
However, there are now sufficient holes to start to interpret the geological controls on the mineralisation in this area.
Part of the upcoming drilling programme will be to deepen FN031, to the south of FN042. FN031 was drilled in 2007 and was completed in weak mineralisation reaching the limit of the drill-string at 116 metres. The Company's technical staff knows the potential of this style of mineralisation from years of working at the Fosterville Gold Project in Central Victoria where the high grade Phoenix Zone was drilled over a continuous down-plunge length of 1,500 metres, with the deepest intersection being one kilometre beneath the surface.
Honey -Midway Prospect
The Honey and Midway Prospects are one of a number of mineralised zones that lie to the east of the Retina Fault. Only four holes were drilled at Midway, with each intersecting mineralisation following up two zones of attractive near surface mineralisation. The Midway Prospect has a combined strike length of 2,600 metres.
The best result returned from the programme was 6m @ 2.40 g/t Au from 8 metres in MWH008.
Pillage Prospect
Drilling will also be carried out at Pillage where a quartz blow along a strong fault plane was mined for antimony. Wide drill intersections returned 11m @ 3.92 g/t Au from 27m in 2005. Drilling in the Stage 2 programme will confirm and test the southerly plunge associated with this structure.
Sleeping Giant Prospect
The Sleeping giant Prospect contains the largest resource currently estimated in the Tregoora region. Six holes were drilled at this prospect with only one failing to intersect mineralisation. The five successful holes will assist in improving the quality of this resource. Results returned from this programme included 18m @ 1.44 g/t Au and 6m @ 3.22 g/t Au in TGA078 and TGA079.
NORTHCOTE PROJECT
26 holes were drilled at Northcote for 1,417 metres. Planning is underway for a small Stage 2 drilling programme which is anticipated to commence soon. Several RC holes and three diamond tails on RC precollars drilled are planned in this programme with approximately 700 metres to be drilled.
Tunnel Hill Prospect
The Tunnel Hill Prospect lies to the north west of the Leadingham Prospect and has been previously drilled by the Company. The extension of 350 metres drilled in this programme, demonstrates continuity of the mineralisation over a strike length of 600 metres. This is mappable as a laminated quartz reef containing breccia and mineralisation. Best intersections from this programme were 6m @ 2.12 g/t Au and 4m @ 2.98 g/t Au in THL015 and THL020.
Leadingham Prospect
Drilling at Leadingham completed three pre-collars and tested the continuation of the Emily structure intersected in ELM035 previously with a narrow intersection of 2m @ 2.16 g/t Au. The new drilling returned one stronger intersection in ELM057 of 8m @ 2.08 g/t Au. Further interpretation is required of this trend prior to follow-up drilling.
WHUMBAL WEST TUNGSTEN PROSPECT
Following the completion of the Stage 2 drilling programme at Tregoora and Northcote, drilling will be undertaken at the Whumbal West Tungsten Prospect to follow-up the very successful 2007 field season drilling where from the total of 13 completed exploration holes drilled; 11 holes encountered tungsten mineralisation.
Contact
John Kelly
Managing Director
Republic Gold Limited
TEL: +61-418-577-759
Tony Nagy
TEL: +61-413-645-126
| ||
|
