Brisbane, May 28, 2009 (ABN Newswire) - The Directors of D'Aguilar Gold Limited (ASX:DGR) are pleased to provide the following update on D'Aguilar's Rannes gold exploration project held by its subsidiary Central Minerals Pty Ltd.
Rannes Central Area
- Mapping by Central Minerals has significantly extended the gold and silver mineralisation at Rannes Central.
- A major new gold and silver target has emerged at the Cooper Prospect, extending the Rannes Central belt westwards into the Bowen Basin by 7 km. Wide spaced soil values range up to 48 ppb* gold (Au) and 3.4 ppm** silver (Ag). Rock float (over 5 metres) assays of up to 1.6 g/t Au have also been recorded from this soil anomaly. Mineralised quartz vein material has been identified in local water bore cuttings. The Cooper Prospect has been defined as 1 km wide and currently open over 4 km in length.
- Detailed analysis of nearby drilling and surface assay results at Crunchie and Porcupine Pie indicates that the silver mineralisation and anomalism extends (vertically) well above gold mineralisation encountered at depth in drill holes. D'Aguilar and Central will use this model to explore for gold deposits that have not been exposed by erosion.
- Non prospective root zones - where the mineralisation has largely been eroded away - are distinguishable by a lack of silver and other volatile elements.
Cracow - Theodore Area
- First pass stream sediment sampling around Theodore, north west of Cracow, has recorded strong gold (to 34 ppb Au), antimony (to 238 ppm Sb) and Arsenic (to 431 ppm As) anomalism. This is indicative of both Rannes and Cracow low temperature styles of mineralisation.
- Four (4) new Exploration Permits for Minerals have been applied for to the west of Cracow, based on Central Minerals interpretation that the Cracow - Theodore area is structurally analogous to Rannes. Central Minerals believes that both the Rannes and Cracow gold districts will extend into the Bowen Basin.
- Mineralised structures throughout the Rannes project area are oriented west north west. The mineralised corridor through the Rannes Central prospects continues through the Scoria Prospect to Mt Perry and Mt Rawdon (Lihir Gold). A similar corridor appears evident through the Cracow-Theodore emerging prospects, the Cracow Mine (Newcrest) extending to the historic Gympie goldfield to the south east. Recognition of major structural features of this orientation in S E Qld (containing diagnostic rhyolite plugs and geochemical signatures anomalous in gold, arsenic, antimony, tellurium, silver, mercury and thallium) are thought by D'Aguilar and Central to be important in the discovery of significant gold resources.
Update Summary - Rannes Gold Project
Four (4) prospects in the Rannes Central area have now been subject to first pass drilling - Crunchie, Homestead, Kauffmans and Porcupine - with potentially economic intersections in all four. Intersections previously announced (refer Quarterly Report Dec 2008) include:
Crunchie
Hole CRU 14 32 metres @ 1.84 g/t Au and 41 g/t Ag (from surface)
Hole CRU 15 68 metres @ 1.01 g/t Au and 73 g/t Ag (from 10 metres)
Hole CRU 24 36 metres @ 1.11 g/t Au and 77 g/t Ag (from 40 metres)
Hole CRU 27 30 metres @ 1.37 g/t Au and 81 g/t Ag (from 46 metres)
Hole CRU 35 32 metres @ 1.39 g/t Au and 103 g/t Ag (from surface)
Homestead
Hole HOM 43 30 metres @ 2.40 g/t Au and 33 g/t Ag (from 32 metres)
Incl. 14 metres @ 4.46 g/t Au and 54 g/t Ag (from 32 metres)
Kauffmans
Hole KAU 6 40 metres @ 1.69 g/t Au and 25 g/t Ag (from 26 metres)
Hole KAU 36 18 metres @ 1.69 g/t Au and 7 g/t Ag (from 10 metres)
And 14 metres @ 3.70 g/t Au and 29 g/t Ag (from 82 metres)
Porcupine
Hole POR 3 8 metres @ 6.23 g/t Au and 5.9 g/t Ag (from 4 metres)
Surface soil, stream and rock sampling have to date identified a further thirteen (13) gold targets - Soggy, Hogget Hill, Cracklin Rosie, Cooper, Baralaba, Theodore, Scoria, Police Camp Creek, 12 mile Creek, Bottle Tree Creek, Grantleigh, Stanwell and Stanwell North.
Rannes Central Area
- Mapping by Central Minerals has significantly extended the gold and silver mineralisation at Rannes Central.
- A major new gold and silver target has emerged at the Cooper Prospect, extending the Rannes Central belt westwards into the Bowen Basin by 7 km. Wide spaced soil values range up to 48 ppb* gold (Au) and 3.4 ppm** silver (Ag). Rock float (over 5 metres) assays of up to 1.6 g/t Au have also been recorded from this soil anomaly. Mineralised quartz vein material has been identified in local water bore cuttings. The Cooper Prospect has been defined as 1 km wide and currently open over 4 km in length.
- Detailed analysis of nearby drilling and surface assay results at Crunchie and Porcupine Pie indicates that the silver mineralisation and anomalism extends (vertically) well above gold mineralisation encountered at depth in drill holes. D'Aguilar and Central will use this model to explore for gold deposits that have not been exposed by erosion.
- Non prospective root zones - where the mineralisation has largely been eroded away - are distinguishable by a lack of silver and other volatile elements.
Cracow - Theodore Area
- First pass stream sediment sampling around Theodore, north west of Cracow, has recorded strong gold (to 34 ppb Au), antimony (to 238 ppm Sb) and Arsenic (to 431 ppm As) anomalism. This is indicative of both Rannes and Cracow low temperature styles of mineralisation.
- Four (4) new Exploration Permits for Minerals have been applied for to the west of Cracow, based on Central Minerals interpretation that the Cracow - Theodore area is structurally analogous to Rannes. Central Minerals believes that both the Rannes and Cracow gold districts will extend into the Bowen Basin.
- Mineralised structures throughout the Rannes project area are oriented west north west. The mineralised corridor through the Rannes Central prospects continues through the Scoria Prospect to Mt Perry and Mt Rawdon (Lihir Gold). A similar corridor appears evident through the Cracow-Theodore emerging prospects, the Cracow Mine (Newcrest) extending to the historic Gympie goldfield to the south east. Recognition of major structural features of this orientation in S E Qld (containing diagnostic rhyolite plugs and geochemical signatures anomalous in gold, arsenic, antimony, tellurium, silver, mercury and thallium) are thought by D'Aguilar and Central to be important in the discovery of significant gold resources.
Update Summary - Rannes Gold Project
Four (4) prospects in the Rannes Central area have now been subject to first pass drilling - Crunchie, Homestead, Kauffmans and Porcupine - with potentially economic intersections in all four. Intersections previously announced (refer Quarterly Report Dec 2008) include:
Crunchie
Hole CRU 14 32 metres @ 1.84 g/t Au and 41 g/t Ag (from surface)
Hole CRU 15 68 metres @ 1.01 g/t Au and 73 g/t Ag (from 10 metres)
Hole CRU 24 36 metres @ 1.11 g/t Au and 77 g/t Ag (from 40 metres)
Hole CRU 27 30 metres @ 1.37 g/t Au and 81 g/t Ag (from 46 metres)
Hole CRU 35 32 metres @ 1.39 g/t Au and 103 g/t Ag (from surface)
Homestead
Hole HOM 43 30 metres @ 2.40 g/t Au and 33 g/t Ag (from 32 metres)
Incl. 14 metres @ 4.46 g/t Au and 54 g/t Ag (from 32 metres)
Kauffmans
Hole KAU 6 40 metres @ 1.69 g/t Au and 25 g/t Ag (from 26 metres)
Hole KAU 36 18 metres @ 1.69 g/t Au and 7 g/t Ag (from 10 metres)
And 14 metres @ 3.70 g/t Au and 29 g/t Ag (from 82 metres)
Porcupine
Hole POR 3 8 metres @ 6.23 g/t Au and 5.9 g/t Ag (from 4 metres)
Surface soil, stream and rock sampling have to date identified a further thirteen (13) gold targets - Soggy, Hogget Hill, Cracklin Rosie, Cooper, Baralaba, Theodore, Scoria, Police Camp Creek, 12 mile Creek, Bottle Tree Creek, Grantleigh, Stanwell and Stanwell North.
About D'Aguilar Gold Limited
D’Aguilar Gold Limited (ASX:DGR) is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
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