25 January 2007 ASX ANNOUNCEMENT NEW COPPER-GOLD MINERALISATION AT BOOLALOO KEY POINTS • The tenor of copper-gold mineralisation at recent discoveries confirmed by rock chip sampling; K15 West - 20 metre channel sample grading 2.8% Copper and 0.37 g/t Gold Eagle Rock - 9 metre channel sample grading 1.5% Copper and 1.15 g/t Gold 3 metre channel sample grading 1.6% Copper and 0.29 g/t Gold N1 - 1 metre channel sample grading 0.34% Copper and 3.44 g/t Gold • New discovery, K18, situated 2.5 kilometres north of K15-16; - 2 metre channel sample grading 2.3% Copper and 0.18 g/t Gold • Native Title clearance for drilling completed. • Drill contractor secured for inaugural program in late February/early March. ____________________________________________________________________________ Diversified Australian mineral explorer Jackson Gold Limited (ASX:JAK) is pleased to update shareholders and the market on the status of exploration at its Boolaloo copper-golduranium project in the West Pilbara region of Western Australia. Exploration Results New prospects at Minga Bore defined during the December quarter have been confirmed by surface sampling to host copper and gold mineralisation (significant results shown on Table 1). Importantly, in addition to extensions of the K15-16 mineralised zone, the Eagle Rock and recently discovered K18 prospects highlight separate new zones that significantly expand the mineralised system to the north and east (see attached figures). The style of mineralisation is also encouraging with both higher-grade narrow vein and lowergrade wide stock-work mineralisation being encountered. The Company interprets the results to date as indicating that the potential to discover additional copper and gold mineralisation in this geological terrain is high, particularly as the majority of the Company's 1,700 square kilometres of tenure is unexplored. Level 2, 41-43 Ord Street West Perth WA 6005 PO Box 1916 West Perth WA 6872 Ph 08 9211 5777 Fax 08 9211 5700 [email protected] www.jacksongold.com.au ABN 44 099 574 991 Planned Exploration Both surface enrichment and depletion has been observed which indicates drilling is required before definition of the tenor of observed mineralisation can be established. To this end the Company is planning a two-fold exploration program over the next four months: 1. A 2,000-3,000 metre RC drill program to define the tenor of the K15-16 mineralisation at depth. Oxide and sulphide mineralisation grade and distribution as well as metallurgical characteristics will be defined. 2. Regional exploration in the Minga Bore licence area will be accelerated; • definition of structural controls on mineralisation for ore-body and exploration targeting • field mapping and sampling of new prospects • new target generation through interpretation of photographic and other remote sensing data • field inspection and geochemical surveys on new target areas The planned exploration program will enable the Company to quickly assess the potential for economic mineralisation in the Minga Bore area as well as the potential for the remainder of the Boolaloo project area. Initial assessment by the Company suggests that the extent of mineralisation discovered to date warrants an aggressive exploration program. Background The Boolaoo project contains a new discovery at the Minga Bore prospect made by the Company in October 2006. Outcropping copper-gold mineralisation was located in two parallel east-west trending structures situated 200 metres apart at prospects K15 and K16. Mineralisation was defined over approximately 1 kilometre in strike length averaging plus 4% copper and 1 g/t gold in rock chip sampling. During November and December further exploration located visual strike extensions to K15 and K16 as well as new prospects at N1 and Eagle Rock, hence defining a potentially much larger copper-gold mineralised system at Minga Bore than previously reported. For further information contact: Andy Viner Brett Smith Managing Director Executive Director
JAK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
