ASX Announcement – Preliminary Drilling Results15th January...

ASX Announcement – Preliminary Drilling Results
15th January 2008
Highlights
· Nobles Nob West - 6m @ 37.50g/t Au from 63m
· Rising Sun – 16m @ 1.23g/t Au from 40m
· Diamond drilling continuing and second round of RC will commence
at end of January 2008
· Placement of $7.8M completed over-subscribed. Issue of new shares
and options likely to be concluded by the end of January 2008.
Excalibur Mining Corporation Limited (ASX : EXM) today announced preliminary
results for some of the early round of RC drill holes at Nobles Nob West in its
Tennant Creek Project.
Managing Director Mr Alex Bajada said “We are very excited about these results
as it is the first confirmation we have of the high grades previously discovered”.
“Excalibur’s ongoing drilling programme is focused on both confirming the
historical drill results as well as targeting new anomalies.”
Excalibur released part of its database to the market on 19 September 2007
“Tennant Creek Drilling Programme”, which showed Nobles Nob West having
significant drill results.
Interim results have been released because of the significantly high grades
discovered. Further information and results will be announced in relation to the
holes outlined as they become available.
Nobles Nob West
Initial holes were planned to infill existing drilling which previously defined gold
mineralisation. These historical holes had intersections of up to 12.8m @ 5.44g/t
Au from 127.4m and 7.31m @ 6.6g/t Au from 118m. A total of 11 holes were
drilled in the current programme on 20m spaced lines and the following table lists
the significant results from 2 of the initial 9 holes. These holes were designed to
target various depths between approximately 50 and 200m.
The significance of the new results is that the discovery is at only 63m depth and
will demand further drilling
Hole Easting Northing From To m Au g/t
ENWRC005 424647 7820117 161 164 3 9.91
including 162 163 1 25.70
ENWRC009 424718 7820047 63 69 6 37.50
including 64 67 3 67.40
and 68 72 eoh 4 1.68
Note Hole ENWRC009 ended in mineralisation. This hole will be extended via
diamond drilling.
This mineralisation occurs over a strike length of at least 100m and remains open
down dip and also along strike to the west. This area will be subject to additional
RC and diamond drilling with a view to establishing a JORC compliant resource.
Rising Sun
Initial holes were planned to test the down dip extensions of previously defined
gold mineralisation. A total of 5 holes were drilled on 100m spaced lines and the
following table lists the significant results. These holes were designed to target
depths up to 150m.
Hole Easting Northing From To m Au g/t
ERSRC003 427491 7819845 40 56 16 1.23
and 96 104 8 1.49
Note these results are 4m composite results only.
The next round of drilling at Rising Sun will infill the existing drilling with a view of
defining a JORC compliant open pittable resource.
Nobles Nob East
Diamond drilling has commenced on the NE4 electromagnetic anomaly along
strike from the Nobles Nob open pit. The hole has yet to reach target depth.
For further information, contact Alex Bajada, Managing Director, on telephone
08 9486 1122.
Information in this report pertaining to mineral resources and exploration results was compiled by Mr MP Sullivan who is a
member of Aus.I.M.M. with not less than five years experience in the relevant fields and who consents to the report
appearing in the form and context in which it appears.