12 June 2007 ASX CODE: ABU
ASX ANNOUNCEMENT / MEDIA RELEASE
ERAYINIA JV: EXPLORATION UPDATE
Erayinia is a Joint Venture between Great Gold Mines and ABM Resources NL (ABM), with ABM earning an interest of up to 70%.
Diamond drilling at Erayinia has confirmed that base metal mineralisation continues at depth and the mineralised unit remains open at depth.
Assays from two recently, completed core holes at the King prospect have been received:
Hole ID North East Depth Interval Zinc Lead Silver
EC/D 55 6538590 484760 388 341 – 349.6 1.62% 0.21% 19 g/t
EC/D 56 6538640 484780 400 334 – 339 6.65% 0.80% 82 g/t
The mineralised unit is not linear; it continues to pinch and swell. The intercepts are higher in the holes than predicted and indicate the dip off the sulphide unit is flattening. From oriented–cores it appears that the stratigraphic sequence has been overturned and that the pattern of higher assays at the base of each intersection are, in fact, at the top of the original layered sequence.
The diamond drilling which includes a further four holes is continuing. DHEM probing is planned to begin in two weeks.
Low copper concentrations (270 ppm and 250ppm respectively) suggest the present zone of sampling is peripheral to the zone of sulphide deposition.
For further information contact:
Imants Kins Barry Rees
Executive Chairman Consultant Geologist
The information in this Report that relates to Exploration results is based on information compiled by Barry Rees who is a member of the Australasian Institute of Mining and Metallurgy. Barry Rees is a Consultant Geologist with over 40 years experience as a geologist.
Barry Rees has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity for 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, Mineral Resources and Ore Reserves. Barry Rees consents to the inclusion in the report of the matters based on his information in the form and context in which it is used.
any thoughts ?
GNL
great gold mines nl
