G-RESOURCES REPORTS ON NEW OUTSTANDING RESULTS FROM DRILLING AT MARTABE Hong Kong, September 14, 2009 HIGHLIGHTS
• Drilling at Martabe has yielded a number of outstanding high grade gold and silver intercepts including: – 29.5m @ 16.73g/t Au; 32.8m @ 8.96g/t Au; 21.1m @ 5.29g/t Au; 25.4m @ 4.51g/t Au; 19.3m @ 4.98g/t Au; and 20.9m @ 3.63g/t Au at the Barani deposit – 55.85m @ 4.27g/t Au; 15.1m @ 3.41g/t Au; 12.2m @ 4.19g/t Au; and 35.9m @ 2.48g/t Au at the Ramba Joring deposit – 24.1m @ 4.57g/t Au and 37.48g/t Ag; 32.1m @ 4.25g/t Au and 45.77g/t Ag; and 31.6m @ 2.17g/t Au and 21.44g/t Ag at the Uluala Hulu deposit • Drilling results confirm that significant potential exists to expand the existing resource base of 5.9Moz gold and 61Moz silver • A new Resource and Reserve statement incorporating these drill results is in preparation and will be announced to the market in coming weeks • Further exploration of a large number of high priority exploration targets has started in the 1639sq.km Martabe licence block • Development of the Martabe project has recommenced * for identification purpose only 2 G-Resources Group Limited (stock code: 1051 – “G-Resources” or the “Company”) is making this announcement voluntarily to keep our shareholders informed of the progress of the ongoing geological and exploration work at the Martabe Project; we shall make similar announcements on an ongoing basis. The Company is pleased to report outstanding results from exploration and resource definition drilling completed over the past ten months at its Martabe Project area, North Sumatra, Indonesia (Figure 1). These results include a number of long and high grade gold and silver intersections that support the company’s belief that the Martabe project will yield further gold and silver resource increases in the near term. Drilling has focused on the Barani and Ramba Joring deposits which are within 2km of the Purnama (Pit 1) deposit which is the first of the deposits that will be mined under the current development plan (Figure 2). Results have now been received from forty-two diamond drill holes from the Barani deposit and thirteen diamond drill holes from the Ramba Joring deposit. The results include those from ongoing drilling by G-Resources and from drilling between October 2008 and June 2009 by the project’s former owner OZ Minerals. At Barani, forty-one of the drill holes have returned significant results with thirteen of the holes returning high gold grades of over 3g/t gold. At Ramba Joring, ten of the drill holes have returned significant results with three of the holes returning high gold grades of over 3g/t. This drilling was aimed at refining the confidence of Resource and Reserve estimates and extending resources along strike and down dip. The results of this drilling have achieved this objective at both Barani and Ramba Joring with zones of significant high grade gold and silver mineralisation having been intersected both within existing resource boundaries and in areas outside the current resource boundaries, thereby extending the deposits. Drilling along the southern strike extension of the Barani deposit has returned outstanding high grade gold intersections including 29.5m @ 16.73g/t Au from hole APSD712; 21.1m @ 5.29g/t Au from hole APSD783; and 11.4m @ 3.51 g/t Au from hole APSD789 (Figure 3). Drilling on the eastern vein zone returned further outstanding high grade intersections including 32.8m @ 8.96g/t Au from hole APSD734. Drilling from the main vein zone included intersections of 25.4m @ 4.51g/t Au from hole APSD786 and 19.3m @ 4.98g/t Au from hole APSD697. The Barani vein system splits into two main zones south of line 166,400N and the recently intersected higher grade zones in the southern area indicate additional resource potential in these areas that are not currently in the Resource Model. The vein zone remains open to the south, where geophysical anomalies (resistivity highs) indicate likely extensions to the strike extent of the system. Additionally, lower grade veins have been intersected to the west of the Barani main vein zone. Recent drilling in the northern end of the Barani deposit has been within the existing Resource Model boundary that was updated in December 2007. This recent infill drilling was undertaken to increase confidence in the Resource Model. Resource modelling incorporating these results is currently in progress.
ORP Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
