announcement out

EXPLORATION & DEVELOPMENT UPDATES
General:
Great Australian Resources Ltd (GAU) is pleased to announce that its exploration programs in South Africa and Cambodia are proceeding well and positive drilling results are being generated out of its Cambodian projects. Details of its drilling programme for the Company’s platinum project in South Africa are also well advanced.
Cambodia
An aeromagnetic program of approximately 10,500 line kilometres have been completed over the Banlung and Oyadao projects. The Company will receive the full data from this survey within the next 3 weeks. This detailed magnetic data will greatly assist the exploration team in delineating further drill targets and get a better understanding of the geological and structural controls on the mineralisation over the project areas.
The diamond drilling program has also commenced at Oyadao with approximately 12 diamond drill holes proposed, totalling approximately 2,000 metres. To date, 250 meters of drilling have been completed (see Figure 1). The exploration team is extremely encouraged by the samples received to date. Very strong quartz and sulphide mineralisation have been intercepted close to surface, strongly associated with highly altered zones (fuchsite-chlorite-carbonate alteration).
Additional outcrops with strong sulphide contents have also been found over the current drill area and samples have been submitted to the laboratories for assaying. The rock chips from this area taken by the Company to date range up to 81.6 g/t gold and 2.67% copper. Results from this drill programme will start to become available within the next 4 – 6 weeks.

South Africa
Impact Mining, a 50% owned company of GAU, has finalised its plans for an initial drill program over its Mooiplats Platinum Project in South Africa. Drilling will commence within the next 6-8 weeks utilising a diamond drill rig and is planned to confirm some of the previous high-grade results and to possibly extend the current mineralised zone further down dip as well as to take the existing resource to a JORC standard. (See Figure 2). The first two holes are planned to mirror previously successful holes in order to confirm the results the company has previously acquired from companies that drilled on the combined Mooiplats tenement holding.
Corporate
In the meantime, the board of the Company has agreed in principal to “spin off” its subsidiary company Impact Mining as a new entity on the Australian Stock Exchange. Should this proceed, GAU shareholders will be rewarded with shares in this new listing by way of an in-specie distribution. The shares in this new listing will be distributed from GAU’s shareholding in Impact. Further details of this transaction will be made available to the market as GAU receives more information.
Yours faithfully
Joe Cornelius BSc, MAustIMM, MAIG, SIA
Managing Director