Infill Drilling at Sihayo Continues to Confirm High Grade Gold Highlights
? Drilling of the South Eastern portion of the resource has continued to intersect significant widths of high grade mineralisation (>5g/t Au) following the discovery of this zone in the March drilling. Significant new results from the high grade zone included;
o SHDD 227 ? 12m at 5.4g/t Au from 95m o SHDD 230 ? 6m at 7.9g/t Au from 84m o SHDD 240 ? 11m at 6.0g/t Au from 104m o SHDD 253 ? 10m at 6.1g/t Au from 83m and 5m at 10.1g/t Au from 59m o SHDD 260 ? 7m at 7.4g/t Au from 111m o SHDD 266 ? 11m at 6.4g/t Au from 76m
? This high grade zone remains untested by drilling at depth to the east.
? Other significant results from infill drilling include;
o SHDD 224 ? 2.9m at 6.6g/t Au from 1m and ? 15.4m at 8.9g/t Au from 5.4m o SHDD 226 ? 5.7m at 7.7g/t Au from 24.3m o SHDD 232 ? 12m at 3.2g/t Au from surface o SHDD 244 ? 14m at 2.9g/t Au from 1m
? Base on the updated interpretations the current program will be extended to include some expansion drilling on the north, east and south margin of the resource. ? Drilling has also commenced at the Old Camp Prospect on the northern margin of the Sihayo 1N Resource to include this prospect in the overall project inventory. ? The infill drilling is expected to be completed in mid May with an updated JORC resource estimate by end of June. 2 The Board of Sihayo Gold Limited (ASX; SIH) is pleased to announce updated results from the resource infill drilling at the Sihayo 1 North resource within its 75% owned Sihayo Project in North Sumatra, Indonesia. The drilling, which aims to upgrade the confidence in the resource estimate under the JORC code, continues to highlight the continuity of mineralisation. It has also continued to expand the zone of higher grade mineralisation within the southeastern portion of the resource. The infill drilling is based on a nominal 25 by 50 metre grid, which is expected to be of sufficient density for a resource estimate classification of at least Indicated status. Significant intersections from the latest results include 11m at 6.4g/t Au, 11m at 6.0g/t Au and 5m at 10.1g/t Au from the deeper parts of the resource between 59 and 115 metres and 15.4 at 8.9g/t Au, 12m at 3.2g/t Au and 5.5m at 7.7g/t Au from the shallower regolith portion of the resource. Figure 1 shows the locations of the drill holes in relation to the previous resource estimate while Table 1 includes all new significant intersections above 1g/t Au. The high grade zone can now be traced over an area of 200 by 200 metres and remains open to the east. Further drilling is planned as part of the current program to test the potential extensions outside the current resource outline. There are currently 7 diamond drilling rigs conducting the resource drilling which is expected to be completed by mid May. The program has been expanded following the recent results to include additional drilling around the northern, eastern and southern margins of the current resource and the Old Camp Prospect, which lies 200 metres north of the resource. Significant results from previous drilling at Old Camp included; 13m at 4.2g/t Au, 27m at 2.7g/t Au and 8m at 3.1g/t Au. Tony Martin Chief Executive Officer About Sihayo Gold Limited Sihayo Gold Limited is an ASX listed (Code SIH) mineral exploration Company which is focused on the development of a 1Moz gold resource at its 75% owned Sihayo Project in Northern Sumatra in Indonesia. The Company was formally Sihayo Gold Limited but has undergone a number of significant changes to its Board and Management structure in line with its renewed focus on the Sihayo Gold project. The Sihayo Gold Project currently has an Inferred JORC compliant resource estimate of 13.2 Mt at 2.4g/t Au containing 1.01 Moz of gold which extends from surface to a drilled depth of 150m. Potential extensions to the resource remain in the most part untested and there remains excellent potential to significantly expand the resource base. The Company has put together a highly experienced project team which commenced work on a Definitive Feasibility Study ?DFS? in late 2009. There are currently seven drilling rigs on site working towards upgrading the confidence in the resource estimate from Inferred status to Indicated by mid 2010. In addition metallurgical, geotechnical, infrastructure and environmental studies are well underway with the aim of completing the DFS by the end of 2010. 3 Figure 1: Sihayo 1 North resource infill drilling collar location and scoping study proposed pit outline 4 Table 1: Significant New Infill Drill Results Sihayo 1 North (>1g/t Au) HOLE ID UTM East UTM North Azimuth Dip Max Depth Depth From Gold Intercept SHDD217 548110 102290 0 -90 90 50 1m @ 4.3 g/t SHDD218 547990 102530 0 -90 53 28 1.4m @ 2.8 g/t SHDD219 548250 102380 0 -90 125 97 5m @ 3.5 g/t SHDD220 547960 102490 0 -90 53 37 4m @ 1.3 g/t SHDD221 547880 102720 40 -90 45 13 3m @ 1.1 g/t 20.6 1.35m @ 4.4 g/t SHDD222 548300 102440 40 -90 129 82 2m @ 1.1 g/t 92 2m @ 6.3 g/t SHDD223 547860 102610 40 -70 59 9 6m @ 1.9 g/t SHDD224 547920 102450 0 -90 50 1 2.9m @ 6.6 g/t 5.4 15.4m @ 8.9 g/t SHDD225 547950 102570 0 -90 47 27 1m @ 2.4 g/t SHDD226 548080 102330 40 -90 70 21 2.2m @ 4.4 g/t 24.3 5.7m @ 7.7 g/t 35 1m @ 2.4 g/t SHDD227 548170 102520 0 -90 130 31 2m @ 10.1 g/t 95 12m @ 5.4 g/t 112 2m @ 2.7 g/t 119 2m @ 3.1 g/t SHDD228 547860 102700 0 -90 39 surface 4m @ 1.5 g/t SHDD229 547970 102600 0 -90 73 35 1m @ 2.2 g/t 40 2m @ 1.2 g/t SHDD230 548310 102460 0 -90 106 84 6m @ 7.89g/t 93 1m @ 3.8 g/t SHDD231 548000 102630 40 -90 53 36 3m @ 1.3 g/t SHDD232 547830 102580 0 -90 30 surface 12m @ 3.2 g/t 2 1m @ 1.1 g/t 12 2m @ 2.1 g/t 40 1m @ 3.3 g/t 48 6m @ 1.8 g/t SHDD234 548260 102390 220 -70 135 90 4m @ 4.5 g/t 100 2m @ 1.6 g/t 105 2m @ 4.5 g/t SHDD236 547790 102530 0 -90 31 surface 3m @ 5.7 g/t 8 1m @ 1.7 g/t SHDD238 548130 102310 0 -90 100 60 4m @ 7.7 g/t SHDD239 547750 102560 0 -90 26 surface 2m @ 2.65 g/t SHDD240 548270 102490 0 -90 134 104 11m @ 6 g/t SHDD241 547920 102530 220 -70 100 6 2m @ 3.0 g/t 17 2m @ 2.8 g/t 75 3m @ 2.4 g/t SHDD242 547810 102640 0 -90 56 5 1m @ 1.4 g/t 9 6m @ 1.7 g/t 19 5m @ 2.0 g/t 37 1m @ 1.6 g/t 41 1m @ 2.3 g/t SHDD243 547670 102560 0 -90 36 surface 5m @ 1.6 g/t 6.5 1.5m @ 2.3 g/t 12 2m @ 1.7 g/t SHDD244 547900 102670 0 -90 47 1 14m @ 2.9 g/t SHDD245 548220 102270 0 -90 110 92 5.2m @ 1.6 g/t 106 1m @ 1.5 g/t 5 HOLE ID UTM East UTM North Azimuth Dip Max Depth Depth From Gold Intercept SHDD246 548210 102570 0 -90 146 17 1m @ 1.2 g/t 28 17.1m @ 1.6 g/t 110 3m @ 2.5 g/t 118 10m @ 4.2 g/t SHDD247 547700 102590 0 -90 76 15 7m @ 1.1 g/t 26 5.8m @ 4.3 g/t 32.7 1.8m @ 1.7 g/t 41 2m @ 1.4 g/t 59 3m @ 1.1 g/t SHDD249 547910 102680 0 -90 60 4 7m @ 2.9 g/t 19 1m @ 1.0 g/t SHDD250 547790 102610 0 -90 61 surface 2m @ 2.4 g/t 12 4.3m @ 2.4 g/t 21.3 4.7m @ 2.4 g/t 29 7m @ 1.1 g/t 47 2m @ 1.4 g/t SHDD251 547920 102700 0 -90 60 18 3m @ 1.3 g/t SHDD252 547870 102800 0 -90 86 11 4m @ 1.6 g/t 21 3m @ 2.2 g/t SHDD253 548180 102370 0 -90 133 59 5m @ 10.1 g/t 83 10m @ 6.1 g/t 96 3m @ 3.2 g/t 110 1m @ 3.7 g/t 123 1m @ 1.4 g/t SHDD254 548230 102430 0 -90 151 124 1m @ 1.2 g/t 129 1m @ 2.0 g/t SHDD255 548240 102210 0 -90 108 92 1m @ 6.8 g/t SHDD256 547860 102780 0 -90 65 4 12m @ 1.4 g/t SHDD257 547760 102650 0 -90 44 7 1m @ 1.3 g/t 33 1m @ 1.2 g/t SHDD258 547730 102620 0 -90 62 surface 1m @ 1.5 g/t 9 4m @ 1.5 g/t 16 7m @ 1.8 g/t 29.8 1.2m @ 1.8 g/t SHDD259 547840 102750 0 -90 73 8 13m @ 1.5 g/t SHDD260 548210 102400 0 -90 157 111 7m @ 7.4 g/t SHDD261 547870 102790 0 -90 53 14 1m @ 1.2 g/t 23.8 1m @ 1.5 g/t 44 3m @ 2.1 g/t SHDD262 547690 102730 40 -70 55 2 3m @ 1.7 g/t 19 1m @ 1.3 g/t SHDD263 547650 102680 0 -90 42 surface 20m @ 2.1 g/t 35 1m @ 2.0 g/t SHDD264 547820 102730 0 -90 50 7 1m @ 1.1 g/t 17 2m @ 2.7 g/t SHDD266 548170 102350 0 -90 140 76 11m @ 6.4 g/t 105 1m @ 2.4 g/t SHDD268 547800 102710 0 -90 65 5 1m @ 3.1 g/t 10 1m @ 2.5 g/t SHDD269 547680 102710 40 -70 52 surface 6m @ 3.6 g/t 10 12m @ 1.9 g/t SHDD271 547770 102820 0 -90 76 2 1m @ 1.1 g/t 53 2m @ 2.0 g/t SHDD273 548090 102260 0 -90 55 11 1m @ 2.6 g/t 21 5m @ 1.6 g/t 6 Notes to Table 1 1. All assays determined by 50gm fire assay with AAS finish by Intertek- Caleb Brett Laboratories of Jakarta 2. Lower cut of 1.0ppm Au used 3. A maximum of 2m of consecutive internal waste (material less than 1.0ppm Au) per reported intersection 4. All interval grades were calculated as a weighted average 5. All intervals reported as down hole lengths 6. Sampling regime as quarter core for PQ, half core for NQ and HQ diameter core 7. Quality Assurance and Quality Control (QAQC): 8. Coordinates in UTM grid system Note 1: It is advised that in accordance with the Australian Stock Exchange Limited Listing Rule 5.6, the information in this report that relates to Exploration Results is based on information compiled by both Mr Tony Martin and Mr Dean Pluckhahn, who are Members of the Australasian Institute of Mining and Metallurgy. Mr Martin is the Chief Executive Officer of Sihayo Gold Limited and Mr. Pluckhahn is a full time employee of Sihayo Gold Ltd?s 75% owned subsidiary company P.T. Sorikmas Mining (?Sorikmas?). Mr Martin and Mr Pluckhahn have sufficient experience which is relevant to the style of mineralisation and type of deposit which is under consideration and to the activity which Sihayo Gold is undertaking to qualify as a ?Competent Persons? as defined in the 2004 Edition of the ?Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves?. Mr Martin and Mr Pluckhahn both consent to the inclusion in this report of the matters based on information in the form and context in which it appears. Note 2: All statements in this report, other than statements of historical facts that address future timings, activities, events and developments that the Company expects, are forward looking statements. Although Sihayo Gold Ltd, its subsidiaries, officers and consultants believe the expectations expressed in such forward looking statements are based on reasonable expectations, investors are cautioned that such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause actual results to differ materially from forward looking statements include, amongst other things commodity prices, continued availability of capital and financing, timing and receipt of environmental and other regulatory approvals, and general economic, market or business conditions.
SIH Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held