announcement out

ASX Release
Monday 9 August 2010
SIGNATURE METALS
LIMITED
Level 1 / 33 Richardson Street
WEST PERTH
Australia
Tel: +61 8 9481 0101
Fax: +61 8 9200 4469
Contact:
Bill Oliver
(Managing Director)
E-mail:
[email protected]
Directors / Officers:
Matthew Wood
Bill Oliver
Timothy Flavel
Stuart Murray
Scott Funston
Issued Capital:
1,185 million shares
ASX Symbol: SBL
Media:
Fortbridge +612 9331 0655
Bill Kemmery 0400 122 449
MORE EXCELLENT RESULTS
FROM DRILLING AT
BOABEDROO SOUTH
Signature Metals Limited is very pleased to announce that it has
received further drilling results from the Boabedroo Deposit at the
Konongo Gold Project. Significant intercepts are listed in Table 1,
with new results including:
 12 metres at 1.66 g/t gold from 60 metres
 including 4 metres at 2.80g/t gold
 9 metres at 1.87 g/t gold from 4 metres
 including 2 metres at 5.18g/t gold
 4 metres at 2.01 g/t gold from 4 metres
 3 metres at 4.56 g/t gold from 21 metres
 3 metres at 4.80 g/t gold from 63 metres
 2 metres at 4.07 g/t gold from 50 metres
RC drilling at Boabedroo South concentrated on over 800 metres of
unmined gold mineralisation to the south of the historical Boabedroo
South open cut (Figure 1). The strike extension to the Boabedroo
Deposit was identified by drilling which yielded results including:
 2 metres at 53.2 g/t gold from 29 metres
 23 metres at 3.66g/t gold from 100 metres
 9 metres at 6.08 g/t gold from 133 metres
 5 metres at 6.53g/t gold from 15 metres
 4 metres at 16.4g/t gold from 96 metres
In total 38 holes were drilled by Signature Metals this year at
Boabedroo South for 4,008 metres. Better results included:
 6 metres at 9.88 g/t gold from 118 metres
 including 2 metres at 24.9g/t gold
 21 metres at 2.66 g/t gold from 47 metres
 including 5 metres at 3.16g/t gold
 including 2 metres at 6.72g/t gold
 3 metres at 6.15 g/t gold from 77 metres
 including 1 metre at 17.0g/t gold
 9 metres at 2.18 g/t gold from 83 metres
 including 1 metre at 9.14g/t gold
 2 metres at 10.4g/t gold from 24 metres
 7 metres at 2.79 g/t gold from 42 metres
 including 2 metres at 7.19g/t gold
 4 metres at 3.39 g/t gold from 15 metres
 6 metres at 2.80 g/t gold from 34 metres
 including 1 metre at 7.96g/t gold
 6 metres at 2.02 g/t gold from 115 metres
 6 metres at 1.72 g/t gold from 10 metres
 including 3 metres at 2.58g/t gold
Recent results continue to support the grade and thickness of
mineralisation intersected in previous drilling. A review of all drilling
has identified higher grade zones within the deposit and follow up
work is planned to target the extensions of these zones.
The Company is currently updating the resource estimate for the
Boabedroo Deposit, which stands at 2.38 million tonnes at 2.58 g/t
gold for over 197,000 contained ounces of gold in the Indicated and
Inferred category (details in Table 2). The Company will then move
to re-optimise the pit design for this deposit.
SIGNATURE METALS
 Aiming to develop the Konongo Gold Project into a +100,000
ounce per annum gold producer.
 Konongo Gold Project consists of one mining license and one
prospecting license covering 192 km2 in the Ashanti Gold Belt
of Ghana. Extension of mining license to 2023 recently granted.
 Past production from Konongo Gold Project of 1.6 million
ounces at a head grade of 11.8g/t gold.
 JORC Resources of over 1.27 million ounces (Table 1).
 Exploration Target1 of 1.5 - 2.5 million ounces of gold (20 25
million tonnes at a resource grade of 2 - 4g/t gold).
 Exploration programmes progressing well, with over 15,000
metres of drilling completed and a substantial number of high
grade results received.
 Mining designs and schedule being re-optimised to maximise
operating margins.
 Onsite CIL plant being recommissioned at a fraction of the cost
of purchasing a new/second hand plant. Lead time to
commissioning envisaged to be six months.
 Environmental studies progressing rapidly, Environmental
Impact Study to be submitted to the EPA this quarter.
Bill Oliver
Managing Director
SIGNATURE METALS LIMITED
1This exploration target is conceptual in nature and relates to defined exploration targets/areas where
mineralisation has been identified but resources have not been delineated. The quantity and grade of the
exploration target is based on past production records and in comparison with currently defined Mineral
Resources contained within the project. There has been insufficient exploration to define a Mineral
Resource in these areas (aside from the resources presented earlier) and it is uncertain if further
exploration will result in the determination of a Mineral Resource.
Figure 1. Plan showing recent and historical drilling at the Boabedroo South deposit.
Table 1. Significant RC Intersections from Boabedroo South
Hole Id
Project Grid Total
Depth
Dip/
Azimuth
Intercept
Easting Northing From To Interval Grade
Au g/t
KGRC0059 49547 50960 124 -60/135 6 7 1 1.51
90 91 1 2.84
113 116 3 1.87
118 124* 6 9.88
including 120 122 2 24.9
*EOH Hole stopped after intersecting stope
KGRC0060 49660 50705 66 -60/135 13 14 1 4.45
36 38 2 1.99
50 53 3 1.33
KGRC0061 49620 50705 108 -60/135 1 2 1 1.94
54 55 1 1.41
57 58 1 1.03
81 88 7 1.18
including 81 82 1 3.40
KGRC0062 49580 50705 130 -60/135 90 92 2 1.34
115 121 6 2.02
including 115 116 1 7.07
KGRC0063 49595 50665 108 -60/135 64 65 1 1.33
83 92 9 2.18
including 83 84 1 9.14
96 99 3 1.34
102 105 3 1.50
KGRC0064 49670 50625 84 -60/135 6 8 2 1.95
23 25 2 1.99
28 31 3 1.57
59 60 1 1.28
KGRC0065 49630 50625 108 -60/135 42 49 7 2.79
including 42 44 2 7.19
59 61 2 1.31
106 107 1 1.60
KGRC0066 49591 50625 144 -60/135 77 80 3 6.15
including 77 78 1 17.0
85 86 1 1.40
103 105 1 3.30
112 113 1 1.07
Hole Id
Project Grid Total
Depth
Dip/
Azimuth
Intercept
Easting Northing From To Interval Grade
Au g/t
KGRC0069 49671 50535 60 -60/135 0 1 1 1.25
10 16 6 1.72
including 11 14 3 2.58
KGRC0070 49630 50535 96 -60/135 33 34 1 1.03
42 44 2 1.41
47 68 21 2.66
including 52 57 5 3.16
including 66 68 2 6.72
KGRC0071 49591 50535 144 -60/135 76 78 2 4.39
including 77 78 1 5.88
80 81 1 1.28
84 85 1 3.35
92 93 1 1.77
99 100 1 1.41
102 103 1 1.21
105 106 1 1.31
115 116 1 1.01
KGRC0072 49671 50485 84 -60/135 19 20 1 3.94
26 27 1 2.84
KGRC0076 49632 50445 96 -60/135 34 40 6 2.80
including 38 39 1 7.96
44 46 2 2.53
54 55 1 1.92
63 66 3 2.79
KGRC0077 49591 50445 138 -60/135 6 7 1 3.7
15 19 4 3.39
including 16 17 1 6.65
24 26 2 10.4
KGRC0081 49833 50352 114 -60/135 12 14 2 1.91
19 20 1 2.22
56 57 1 5.98
KGRC0082 49650 50350 96 -60/135 5 9 4 2.01
21 24 3 4.56
including 22 23 1 5.92
KGRC0083 49611 50350 126 -60/135 3 4 1 3.33
81 83 2 1.52
KGRC0085 49651 50310 126 -60/135 4 13 9 1.87
including 10 12 2 5.18
Hole Id
Project Grid Total
Depth
Dip/
Azimuth
Intercept
Easting Northing From To Interval Grade
Au g/t
KGRC0085 continued 24 26 2 3.06
76 77 1 3.57
KGRC0088 49670 50265 84 -60/135 27 29 2 1.38
KGRC0089 49631 50265 114 -60/135 60 72 12 1.66
including 60 64 4 2.80
KGRC0090 49591 50265 144 -60/135 116 117 1 3.34
122 123 1 2.95
KGRC0092 49631 50160 114 -60/135 50 52 2 4.07
including 50 51 1 5.60
63 66 3 4.80
including 64 65 1 6.79
KGRC0093 49589 50160 144 -60/135 102 103 1 1.1
114 116 2 1.29
KGRC0094 49671 50090 84 -60/135 10 11 1 1.13
KGRC0095 49630 50090 102 -60/135 65 66 1 2.1
KGRC0096 49590 50090 144 -60/135 88 89 1 1.36
111 112 1 1.08
The information in this release which relates to Exploration Results is based on information compiled by Mr Bill
Oliver. Mr Oliver is a Member of the Australian Institute of Mining and Metallurgy and the Australian Institue
of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit
under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in
the 2004 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves. Mr Oliver is the Managing Director of Signature Metals and consents to the inclusion in this release
of the matters relating to Exploration Results in the form and context in which it appears based on the
information presented to him.
All intersections greater than 1m downhole with grade greater than 1g/t are reported and may include up to 2
metres internal waste. Samples are analysed by 50g Fire Assay method at internationally accredited
laboratories in Ghana. QA/QC samples are inserted regularly by the Company including certified reference
samples, blanks and duplicates and intersections are not reported unless results from these samples meet
acceptable standards.
Table 2. Resources contained within the Konongo Gold Project. Re-estimated resources highlighted in bold.
Deposit Measured Indicated Inferred Total
Tonnes
Grade
(g/t)
Contained
Ounces
Tonnes
Grade
(g/t)
Contained
Ounces
Tonnes
Grade
(g/t)
Contained
Ounces
Tonnes
Grade
(g/t)
Contained
Ounces
Obenemase 3,267,000 3.08 323,605 1,739,000 2.37 132,695 5,006,000 2.83 456,300
Asieye 1,500,000 0.80 38,580 1,500,000 0.80 38,580
Kwakawkaw 344,000 4.31 47,675 344,000 4.31 47,675
Nyabo East 540,000 1.03 17,940 540,000 1.03 17,940
Patuo 128,000 1.43 5,905 445,000 1.44 20,660 573,000 1.44 26,565
Kyereben West 124,000 3.10 12,360 124,000 3.10 12,360
Aserewa 324,000 2.42 25,130 136,000 4.66 20,355 460,000 3.10 45,485
Atunsu 99,000 2.01 6,415 659,500 2.61 55,435 758,500 2.54 61,850
Apan 39,000 2.03 2,565 526,000 2.22 37,620 565,000 2.21 40,185
Leopard Shaft 95,000 7.55 23070 95,000 7.55 23,070
Boabedroo 192,500 2.63 16,295 2,184,500 2.58 180,900 2,377,000 2.58 197,195
Akyenase Central 58,000 4.00 7,460 96,000 8.80 27,160 154,000 6.99 34,620
Santreso West 3,520,000 1.20 135,810 810,000 1.25 32,555 4,330,000 1.21 168,365
Santreso South 340,000 1.16 12,680 340,000 1.16 12,680
Santreso East 700,000 1.27 28,610 700,000 1.27 28,610
Old Tailings Dam 1,177,000 1.19 45,050 575,000 0.87 16,100 1,752,000 1.09 61,150
Total 0 0 0 8,804,500 2.01 568,235 10,814,000 2.03 704,395 19,618,500 2.02 1,272,630
The Mineral Resources presented in this table for the Obenemase, Boabedroo, Aserewa, Atunsu, Apan and Patuo Deposits, and the Old Konongo Tailings Dam, is based on information compiled by Mr Peter Ball who is a Member of the