Sydney, Oct 11, 2005 AEST (ABN Newswire) - HIGH GRADE GOLD INTERCEPTS (incl 3m at 139 g/t gold) RETURNED FROM IP TARGETS OUTSIDE OF PIGIPUT SULPHIDE DEPOSIT
HIGHLIGHTS
Significant sulphide gold results have been returned from drilling recently completed near the Pigiput sulphide gold project on Simberi Island, viz;
? 6m at 5.36g/t gold from surface and 3m at 139.4g/t gold from 226m in RC1153.
? 4m at 4.56g/t gold from 77m, 11m at 2.04g/t gold from 175m and 32m at
1.60g/t gold from 195m in RC1151
These results are very encouraging. The presence of high grade mineralisation
within the Pigiput deposit footwall indicates significant potential for extensions to the known high-grade hangingwall sulphide gold deposit.
Interpretation of Results:
RC1153 drilled a previously untested chargeable IP anomaly in the footwall of the
known Pigiput sulphide gold deposit.
The resulting "bonanza" grade intercept of 1m at 409g/t Au from 227m represents
the third extremely high-grade gold intercept recorded in the footwall region of the
Pigiput deposit. Two previous drillholes, P01 and P34, also intercepted spectacular
gold grades.
These results together with RC1153 demonstrate that there is potential for significant high-grade footwall gold mineralisation over a large, mostly untested area beneath Pigiput Ridge . The recent drilling data confirm that gold mineralisation within the Pigiput area is associated with chargeable IP anomalies. Each IP target drillhole intersected gold mineralisation. Further work will follow to better define the extent and tenor of sulphide-hosted gold mineralisation in the Pigiput area.
The IP data fit into the general geological framework of an epithermal system in
which intrusions at depth cause alteration and drive emplacement of mineralisation at more shallow levels. Coincident high chargeability and high resistivity anomalies are interpreted to be intrusions carrying sulphides and gold mineralisation.
Discussion of Results:
Phase 4 drilling - Pigiput Area:Diamond drilling in the Pigiput area was designed to;
- Test induced polarisation ("IP") geophysical targets,
- Test target extensions to known high-grade mineralisation and,
- Test for further high-grade footwall mineralisation.
In summary, the results of this recent drilling will extend the zone of known sulphide mineralisation at Pigiput and provide high priority areas for further sulphide drilling.
Phase 4 Drilling - Sorowar Area:
Diamond drilling is currently underway in the vicinity of the Sorowar deposit to test targets generated from recent IP geophysical surveys. Sulphide mineralisation which underlies the oxidised gold caps is virtually untested at Sorowar and six high priority chargeable anomalies (with varying associated resistive anomalies) have been identified for testing under the Phase 4 drill programme. Two of the six planned holes at Sorowar have been completed and assays are pending.
For the full release including diagrams and maps, please view the original at;
http://www.alliedgold.com.au/111005.pdf
Contact
Allied Gold Limited
+61 8 9353 3638 phone
+61 8 9353 4894 fax
info@alliedgold.com.au
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