worth watching...

hi all...
just looking at gbg, has had price movement in the past few days as well good buying support.
announcement made on friday after close.
whats your thoughts...

STOCK EXCHANGE ANNOUNCEMENT
19 December 2003
NEW DRILL TARGETS IDENTIFIED AT ANKETELL
Gindalbie Gold NL (ASX Code: GBG) is pleased to announce that the recent Induced Polarisation
(IP) survey work undertaken at the Anketell Gold Copper Project by Teck Cominco has identified
a further 3 drill targets.
Whilst undertaking the diamond drilling at Magnum earlier this year a trial IP survey was
completed across known mineralisation. The technique identified an anomaly coincident with high
grade gold intersected in AKD009 (15 metres @ 14.1g/t gold from 464 metres). This
demonstrated that IP was an appropriate tool for identifying copper gold targets in the Anketell
area.
Subsequently prospects with anomalous soil and drill hole geochemistry as well as areas with
prospective magnetic and EM signatures were surveyed. Eight separate IP surveys were conducted
over selected areas of the 2,000 square kilometre Anketell tenement package, and three well
defined anomalies have been identified.
Upon completion of this phase of exploration, Teck Cominco advised that it was withdrawing from
the joint venture to focus on other projects. Gindalbie has resolved to maintain its focus on the
Minjar Gold Project and therefore introduce a new partner to this exciting project with the aim of
drill testing the IP anomalies during the next field season. Expected resource upgrades at Telfer,
100 kilometres to the south, highlight the potential of the province to produce world class gold
deposits.
Recent exploration work has added considerable value to project. New work completed includes
detailed airborne magnetics, over 2,000 metres of diamond drilling, heritage clearance work and
the IP surveys described above. When combined with work completed firstly by BHP Minerals
and subsequently by Gindalbie the end result is a high quality dataset that will facilitate ongoing
exploration success in what can only be described as a highly prospective under explored part of
Western Australia.
Parties interested in outright purchase or joint venture should contact, Mr Tony Morgan at
[email protected] for an information and data package.