kyrgystan gold breakout?

Looks like 51c 52 week high about to be breached?



Perseus Mining Limited
ABN 27 106 808 986
30 Ledgar Road, Balcatta, Western Australia 6021 PO Box 717 Balcatta WA 6914
Telephone: (618) 9240 6344 Facsimile: (618) 9240 2406
Email address: [email protected] Website: www.perseusmining.com
LARGE INCREASE IN TENEMENT HOLDING
(Tolubay Region - Kyrgyz Republic - Perseus 100%)
Perseus has increased its exploration acreage along strike from the Obdilla gold discovery to 4,846 sq km after an additional three licences covering 2,572 sq km were granted to JSC Landmark, one of its Kyrgyz subsidiaries.
The Perseus Group has acquired a dominant tenement position along an under-explored, highly prospective 300km section of the Southern Tien Shan thrust belt (see figure). The newly acquired licences are prospective for Carlin style gold mineralisation similar to the Company’s Obdilla discovery made in mid 2005. Since Carlin style gold occurrences are often found in clusters, the Obdilla discovery highlighted the potential of the surrounding areas. Historical Soviet exploration on several of the licences had identified stream sediment anomalies of gold and indicator elements. These represent prime targets, particularly in areas with similar geological settings to Obdilla.
Drilling is continuing at Obdilla and a regional exploration program focused on Carlin style mineralisation has commenced on the newly acquired licences.
Licence Name
Owner
Perseus Equity
Area
Sq Km
Tolubay
JSC Z-explorer
100%
46
Isfairam
JSC Z-explorer
100%
484
Djingil
JSC Z-explorer
100%
96
Aravan
JSC Z-explorer
100%
577
Akbura
JSC Z-explorer
100%
1070
Karavshin
JSC Landmark
100%
948
Karabulak
JSC Landmark
100%
815*
Aksu
JSC Landmark
100%
809*
* Approximate net area after allowing for international boundaries
Perseus is a gold exploration company exploring for large gold deposits within regions that: have numerous "World Class" gold deposits; have significant existing gold production and growing reserve inventories; remain amongst the least explored by modern techniques; and include countries in which the Directors and Perseus staff have substantial experience.
To discuss any aspect of this announcement, please contact Mark Calderwood on [email protected]
Mark Calderwood
Managing Director
11 April 2006
The information in this report that relates to exploration results is based on information compiled by Mr Mark Calderwood, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is a Director and full-time employee of the Company. Mr Calderwood has sufficient experience, which is 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 ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Calderwood consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
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