very early in May.For those with a speculative gold appetite,...

very early in May.

For those with a speculative gold appetite, from Gippsland's Limited (ASX : GIP ) Quarterly Report yesterday;

"Gippsland’s 100% owned subsidiary Adobha Resources (Eritrea) Pty Ltd holds the Adobha
Exploration Licence covering 2,100 km2 and the Gerasi South Exploration Licence covering 100 km2 in the highly prospective Adobha region of The State of Eritrea.
The two granted Exploration Licences cover a total area of 2,200 km2 of the highly mineral endowed Nubian-Arabian Shield in Eritrea that is regarded as very prospective for volcanogenic massive sulphide mineralisation and structurally controlled gold mineralisation. Local examples of these types of deposits are the Bisha base metal deposit (1.618 million ounce gold and 0.45 million tonne copper in the Ore Reserves) located some 174 km to the south and the Probable Ore Reserve of 0.760 million ounces of gold at the Zara gold project (Koka deposit) located only 16 km to the south of the Company's most southern Licence. The Precambrian Nubian-Arabian Shield hosts at least five gold deposits containing in excess of 1 million ounces of gold including the 14.5 million ounce Sukari gold deposit in Egypt.

During the quarter, the Company completed a gravity survey within the Adobha Project over all of the high and medium priority electromagnetic anomalies identified from an airborne survey flown by Geotech Airborne Limited using a Versatile Time Domain Electro Magnetic system (‘VTEM’) during 2011.

The Company also undertook geological mapping, additional geochemical sampling and site access preparatory work ahead of RC drilling which is expected to start very early in May.

The exploration work completed subsequent to the VTEM survey has identified a number of targets which have coincident VTEM, gravity and geochemical anomalies. A programme of RC drilling has been designed to test all of these high priority targets."