ASX Announcement 21 June 2005
Burdekin Pacific Limited A.C.N. 059 329 519
Level 2, BGC Centre 28 The Esplanade Perth WA 6000
Phone: +61 8 9322 6045 Fax: +61 8 9481 5557 Email: [email protected]
Enquiries regarding this announcement can be directed to either: Mr Jerome G Vitale Director and Chief Executive Officer or Ms Susan J Field Executive Director and Company Secretary 21 June 2005
Regional Exploration and Resource / Reserve Definition Update Mt Kasi Project
The Company has completed a regional exploration review and ranking of four highly prospective gold targets within close proximity to the Mineral Hill gold deposit.
The Company’s exploration strategy is to test these near minesite and regional targets that have the potential to provide not only incremental ore tonnages within a 10 km trucking distance of a processing plant at Mineral Hill, but also open cut deposits with significant dimensions and attractive economics in the context of established mine infrastructure.
Regional Gold Targets
Drilling at the Mt Kasi project during 2004-05 focused only on extensions to the Mineral Hill deposit, which occur within an under-explored structural corridor (Figure 1), where an analogy can be drawn to the 10m oz Vatukoula deposit located within the same structural corridor (located on island of Viti Levu, Fiji). The distribution and grade of gold currently defined over a 3 km portion of this corridor highlights the potential for substantial accumulations of gold within the Mt Kasi mineralised system within the under-explored interior of the Company’s lease holding.
The recent drilling results from Mineral Hill demonstrate the potential for significant high grade zones of mineralisation distributed at surface and at depth throughout the system.
The exploration review has focused on four main areas with the potential to host high grade mineralisation:
Cresswells Prospect
A 100 metre wide by 500 metre long zone has been defined, which contains variably spaced trenches with gold grades
including 30m @ 5.1 g/t and 20m @ 7.8 g/t.
A sub-parallel structure exists over an open ended area with a trench
grading 25m @ 7.8 g/t gold (Figure 2).
Cresswells has never been drilled.
Waidamudamu Prospect
This prospect is interpreted to lie near the northern end of the Nasoni trend (Figure 1). It is defined by numerous adits developed into the hill with a best historic drive sample of
120m @ 12 g/t gold. Several surface costeans contain gold including 12m @ 5.9 g/t Au.
Naduna Prospect
Naduna (Figure 1) is interpreted to lie at the southern end of the Mt Kasi structural corridor. The prospect is highlighted by rock chip sampling of old underground workings that
contain 12m @ 28.4 g/t gold, including 4m @ 81.4g/t gold.
Nasoni Prospect
Nasoni (Figure 1) is a major gold in soil anomaly that is 600m long by 250m wide, as defined by a 100 ppb gold contour, with a peak soil result of 6.5 g/t gold. Limited costeaning at Nasoni has returned up to 4m @ 7.1 g/t gold in close proximity to the peak soil result.
The Nasoni trend is situated 1.5 km southeast of the Mineral Hill soil trend and is interpreted to be on a major structure parallel to the one containing the mineralisation at Mineral Hill.
Nasoni has never been drilled.
Future Work
The Company is planning to undertake a 5,000 metre RC and diamond drill program primarily to test the four target areas, as well as a conceptual target at Vuniroro Levu, approximately 300m north of any previous drilling along the Mt Kasi corridor, where a silicified ridge with flanking anomalous argillic alteration will be drilled.
A portion of the programme will include follow up drilling on open depth extensions at Paro where results included 5m @ 27.4 g/t gold and 3m @ 37.5 g/t gold.
Ongoing regional exploration is also expected to generate new drill targets. Advanced prospects that warrant drill testing include
•Tavea and Savuni Creek – located on the perimeter of a large, elevated circular alteration zone,
recovered float samples
grading up to 74g/t gold; source undiscovered;
•Naravuka - anomalous boulder float returning several values
in excess of 300g/t gold; source undiscovered.
Constructive comments & discussion please.
I hold bks
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