hey blacks, welcome to the Beadell thread!FYI most recent...

hey blacks, welcome to the Beadell thread!
FYI most recent quarterly report http://www.asx.com.au/asxpdf/20120125/pdf/423y0z6vlp9l3h.pdf in addition to recent drilling report just prior to xmas as per below:

***Significant Extension to Urucum Deeps - Tucano
Exploration Update | Drilling Report
20-12-2011
BDRSIGNIFICANT EXTENSION TO URUCUM DEEPS - TUCANO
• 14 m @ 4.3 g/t gold including 7 m @ 6.4 g/t gold from Urucum Deeps
• 8 m @ 3.9 g/t gold including 5.3 m @ 5.3 g/t gold from Urucum Deeps
• 4.6 m @ 10.2 g/t gold including 1.2 m @ 33.5 g/t gold from Tap Sul
• 3 m @ 5.5 g/t gold from Tap Sul
• 8 m @ 24.6 g/t gold Tap D Grade Control
• 6 m @ 22.7 g/t gold from Urucum Grade Control
• 7 m @ 29.8 g/t gold from Urucum Grade Control
Beadell Resources Limited (Beadell) is pleased to announce significant new extensional drill results from the Urucum Deeps drilling program of up to 14 m @ 4.3 g/t gold including 7 m @ 6.4 g/t gold and a separate ore zone with 15 m @ 2.3 g/t gold in FD1215. Three drill rigs are currently extending the mineralisation below the FD1215 intersection (see Figure 1), which will lead to a significant resource addition in 2012. Further significant results were received from the Tap Sul discovery, including 4.6 m @ 10.2 g/t gold and 3 m @ 5.5 g/t gold. Tap Sul remains open at depth and along strike to the south with further drilling underway. Extensive grade control RC drilling in preparation for open pit mining has also encountered significant new drill results across all deposits including 8 m @ 24.6 g/t gold at Tap D2, 7 m @ 29.8 g/t gold and 6 m @ 22.7 g/t gold at Urucum. Urucum Deeps – Drill hold FD1215 intersects 14 m @ 4.3 g/t gold and 15 m @ 2.3 g/t gold Extensional drilling outside of the existing resource at Urucum has intersected the continuation of the lode 1 and lode 2 structures with an intercept of 14 m @ 4.3 g/t gold from 663 m including 7 m @ 6.7 g/t gold from 667 m and 15 m @ 2.3 g/t gold from 736 m in FD1215. This result is significant and demonstrates the potential for significantly increasing the Urucum resource which currently stands at 2.5 Moz.
Drill hole FD1215 intersected a large zone of sulphide mineralisation 140 m below the nearest up dip intersection where a result of 24.2 m @ 2.5 g/t including 13.2 m @ 3.7 g/t gold was previously recorded (Figure 2). It is interpreted that the mineralisation at Urucum and Tucano in general plunges shallowly to moderately to the north. The closest up plunge intersection of the high grade zone intersected in FD1215 is located over 200 m to the south where FD92 previously intersected the two main lodes assaying 12.6 m @ 9.2 g/t gold and 11.9 m @ 11.3 g/t gold.
A new result was also received from hole FD1217 drilled 100 m south of FD1215, intersecting 8 m @ 3.9 g/t gold from 648 m including 5.3 m @ 5.3 g/t gold from 648 m and 19.2 m @ 1.4 g/t gold from 666 m.
The 2.5 Moz Urucum deposit has been drilled to a maximum depth of 500 m below surface with some of the strongest mineralisation open at depth. The top 200 m of the deposit has been tightly drilled as part of the open pit Tucano Definitive Feasibility Study (DFS).
However from 200 m to the limit of drilling at 500 m below surface the drill density is extremely wide, generally greater than 100 m x 100 m. A major infill drilling program will target this window in 2012 utilising the recently acquired T685 Schramm RC rig which is due to be exported from Australia on 6 January 2012.
The current open pit optimisations at Tucano are all held back by the limit of infill drilling to convert inferred resources to indicated, as no inferred resources have been used to drive the pits deeper. Likewise a conservative gold price assumption of US$1,050 used in the DFS optimisations will also be a catalyst for materially increasing reserves when higher gold prices are factored in.
Excellent potential exists to increase the open pit reserve and / or supplement the open pit with an incremental underground operation at Urucum Deeps.
The Urucum Deeps drilling program is designed to significantly extend the Urucum resource in the target window of 500 m to 1000m below surface. The Urucum orebody exhibits extremely favourable geometries, style and tenor for underground mining with two main lodes averaging in excess of 5 m wide and dipping steeply to the east (Figure 2).
Ground conditions are excellent with a competent footwall of homogenous granite and BIF host rock. The Urucum lodes have excellent continuity and endowment of gold with the southern lodes showing 2090 ozpvm and the northern lodes showing 1390 ozpvm.
Re-modelling of the resources followed by re-optimisations of the open pits and an underground scoping study will be completed in 2012. The incremental addition of an underground operation at Urucum targeting a modest 0.5 Mt pa project has the potential to lift gold production at Tucano to a steady state of over 200,000 oz pa and materially increase the reserve position.
Tapereba Sul – New shallow high grade results, 4.6 m @ 10.2 g/t gold and 3 m @ 5.5 g/t gold
Further drilling at the Tap Sul discovery has intersected additional, shallow high grade oxide gold mineralisation including FD1355, 4.6 m @ 10.2 g/t gold from 39.4 m including 1.2 m @ 33.5 g/t gold from 40.6 m and FD1356, 3 m @ 5.5 g/t gold from 53 m.
The new results have confirmed the continuity of a high grade oxide zone beneath a thin, flat lying pegmatite sill (Figure 3). The Tap Sul discovery is considered to be a similar style and geometry to the high grade Trough Zone in Tap AB2, 1 km to the north, being located on the same Banded Iron Formation (BIF) and clastic contact and hosted within deeply oxidised saprolite.
Additional step out diamond drilling is underway to define the extents of the Tap Sul gold mineralisation. The Tap Sul area is located south and along strike from Tap AB and has historically been shallowly drilled by mostly auger drilling, which intersected predominantly pegmatite. However deeper drilling beneath the flat to gently dipping pegmatite sills has demonstrated that significant gold mineralisation occurs at depth.
Excellent potential exists to define a significant open pittable oxide gold resource at Tap Sul and extensive drilling is currently in progress.
Grade Control – RC grade control drilling continues to intersect spectacular results
Extensive RC grade control drilling on a nominal 15 m x 7 m spacing continues to intersect significant high grade intercepts throughout all the open pits. Significant results include Tap D2 pit, drill hole GCRC1331, 8 m @ 24.6 g/t gold from 13 m to bottom of hole (BOH), Urucum pit, drill hole GCRC1109, 6 m @ 22.7 g/t gold from 5 m and GCRC1127, 7 m @ 29.8 g/t gold from 11 m, Tap C pit, drill hole GCRC873, 21 m @ 4.3 g/t gold from 7 m to BOH, Tap AB3 pit drill hole GCRC442, 8 m @ 6.6 g/t gold from surface.
To date a total of 953 grade control RC holes have been drilled for 23,209 m representing approximately 32 % of the next 12 months production.
For further information please contact:
Peter Bowler | Managing Director Rob Watkins | Executive Director Geology T: +61 8 9429 0801 T: +61 8 9429 0802 [email protected] [email protected]