Suite 34 : 25 Walters Drive : Osborne Park : Western Australia :...

Suite 34 : 25 Walters Drive : Osborne Park : Western Australia : 6017
Telephone (618) 9244 1400 : Facsimile (618) 9244 1600 : ASX Code AAM
Email [email protected] website www.a1minerals.com.au
ABN 44 100 727 491 : ASX Code AAM : Member of AMEC
BRIGHTSTAR RESOURCE DOUBLES TO
600,000 OUNCES GOLD
HIGHLIGHTS:
�� Latest RC Drilling Adds 89,000 Ounces
�� WME Tenement Acquisition Adds Further 200,000 Ounces
�� BrightStar Gold Project Area Now Over 500km2
�� WME To Become A Major Shareholder in A1
Implementing its strategy of focussing on finding or acquiring high grade gold resources, A1
Minerals Limited (A1) is pleased to announce the BrightStar Gold Project resource (calculated in
compliance with the JORC Code) has almost doubled to over 600,000 ounces through another
successful drill campaign at BrightStar Beta and a major tenement acquisition from its Laverton
neighbour, West Australian Metals Ltd (WME).
1. BRIGHTSTAR DRILLING RESULTS
Recent reverse circulation (RC) drilling carried out by A1 at BrightStar Beta has significantly
increased the resource (JORC compliant) by a further 89,000 ounces gold (Table 1).
The resource increase occurred both along strike north of the Mikado Pit, extending the shallow
Inferred resource a further 70 metres, and at depth, where recent RC drilling and geological
interpretation has enabled the Inferred resource to be extended to approximately 230 metres
depth below surface.
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE 5 DECEMBER 2005
AUSTRALIAN STOCK
EXCHANGE CODE
AAM
Suite 34 : 25 Walters Drive : Osborne Park : Western Australia : 6017
Telephone (618) 9244 1400 : Facsimile (618) 9244 1600 : ASX Code AAM
Email [email protected] website www.a1minerals.com.au
ABN 44 100 727 491 : ASX Code AAM : Member of AMEC
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE 5 DECEMBER 2005
2. EXPANDING THE BRIGHTSTAR GOLD PROJECT
Complementing A1’s long term goal of multiple, higher grade gold assets in the multi-million ounce
gold producing Laverton District of Western Australia, the Company has entered into an
agreement to purchase 100% interest in WME’s Laverton gold tenements. These tenements
currently report total resources of over 200,000 ounces in both Inferred and Indicated categories
(JORC compliant) and expand A1’s BrightStar Gold Project area to over 500 square kilometres.
The majority of tenements being acquired from WME are located immediately north of Laverton
within economical trucking distance of BrightStar, with reported resources at Ben Hur, Cork Tree
Well, King of Creation and Anchor prospects. Most have higher grade components and are open
at depth, indicating potential for extensions.
Achieved through an offer of $100,000 cash and 2.0 million A1 shares to WME, the offer is subject
to a 30 day due diligence period by A1, and A1 shareholder approval. WME has agreed to a
voluntary six months escrow on the shares and to consult with A1 before a substantial disposal of
shares after that date. A1’s shareholder meeting is anticipated before the end of January 2006.
3. PRE-FEASIBILITY STUDY AND CONCURRENT DRILLING PROGRAMS
A1’s new JORC compliant resource at BrightStar Beta was compiled by Mr Tony Ryall,
independent geological consultant to A1 (Table 1).
The current pre-feasibility study is being extended to incorporate the new resources.
Further drilling is planned through to the first quarter 2006, as part of pre-feasibility requirements
and to further extend resources.
Suite 34 : 25 Walters Drive : Osborne Park : Western Australia : 6017
Telephone (618) 9244 1400 : Facsimile (618) 9244 1600 : ASX Code AAM
Email [email protected] website www.a1minerals.com.au
ABN 44 100 727 491 : ASX Code AAM : Member of AMEC
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE 5 DECEMBER 2005
Table 1: BrightStar Gold Project Updated Resource December 2005
Resource Location
Lower Cut-Off Grade Au
Measured
Resource
Indicated
Resource
Inferred
Resource
Total
Resource
Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
g/t Au g/t Au g/t Au g/t Au
Total Alpha 1 g/t 178,900 3.81 21,910 311,900 2.68 26,840 631,400 4.20 85,280 1,122,200 3.72 134,030
Total Beta 1 g/t (updated) 68,900 4.00 8,860 628,900 3.85 77,830 1,064,900 5.24 179,570 1,762,700 4.52 266,260
Total Alpha/Beta 1 g/t 247,800 3.86 30,770 940,800 3.46 104,670 1,696,300 4.86 264,850 2,884,900 4.32 400,290
WME resources (various) 0 0 0 1,298,600 2.0 81,800 1,751,000 2.2 120,000 3,049,600 2.1 201,800
Total 247,800 3.86 30,770 2,239,400 2.59 186,470 3,447,300 3.47 384,850 5,934,500 3.16 602,090
John Williams
B.Sc, MAusIMM
Managing Director
The information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Tony Ryall, who is a member
of the Australasian Institute of Mining and Metallurgy. Mr Ryall is an independent geological consultant and has sufficient experience 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 Ryall consents to the inclusion in the report of the matters based on his
information in the form of context in which it appears.