Brisbane, Oct 28, 2008 AEST (ABN Newswire) - D'Aguilar Gold Limited (ASX:DGR) is pleased to announce significant gold‐silver intersections at Crunchie Prospect in its large Rannes Gold Project, Central Queensland which extends over 200km and is held by wholly owned subsidiary Central Minerals Pty Ltd. D'Aguilar is drill‐testing advanced prospects and 30 holes have been drilled for 3590 metres. The first batch of assays have been received from eight holes at Crunchie, covering 884 drill‐metres.
Highlights
- Drill results at Crunchie Prospect announced in late 2007 included 32m @ 2.38g/t & 68m @ 1.97g/t gold equivalent*. First holes in 2008 program include 36m @ 2.12g/t & 58m @ 1.09 g/t gold equivalent.
- Assays for Kauffmans, Homestead, Porcupine and other prospects yet to be finalised
- Geochemistry indicative of Carlin style sedimentary hosted gold province
- Silver rich systems herald gold rich targets at depth
Key intercepts from Crunchie to date are:
----------------------------------------Hole From To Drillhole Gold (m) (m) intercept Equivalent Length(m)----------------------------------------Cru15** 10 78 68m 1.97 g/tCru24 40 76 36m 2.12 g/tCru14** 0 32 32m 2.38 g/tCru18 0 58 58m 1.09 g/tCru22 24 70 46m 0.77 g/tCru18 72 98 26m 0.90 g/t----------------------------------------
** drilled late 2007. Other holes are the first batch of 2008 results.
Crunchie Prospect is one of several significant prospects including Kauffmans, Porcupine, Homestead and Crackling Rosie being drill tested in the 2008 drilling program, designed to identify initial inferred resources.
Results to date lead the Board to believe there is potential to host an extensive province of gold and silver mineralisation on the Rannes Project over a strike length of 160km on the eastern side of the Bowen Basin in Central Queensland. Mineralisation is interpreted to lie in the basal Bowen Basin sediments and volcanics, geologically younger than the Cracow Mine mineralisation which hosts in excess of 2 million ounces in resources and mined gold, some 120km to the south.
Trace and associated element geochemistry at Rannes is similar to the geochemical suite at the world famous Carlin trend in Nevada USA. Furthermore, the structural and other geologic characteristics confirm the similarity with the Carlin style mineralisation.
The mineralisation at Crunchie occurs in pyritic shear and breccia zones that dip gently within favourable calcareous sedimentary and tuff (volcanic ash) horizons. This means that most of the mineralisation is probably concealed beneath barren cap‐rocks - a similar setting to that at Carlin.
At Crunchie, the envelope of pyrite and host rock alteration trends north‐westerly for an unclosed 400m and is approximately 200m wide. Holes 29 and 30 at the north westerly extremity both encountered 70m thicknesses of pyrite host rocks underlying 35m of barren rock. Although assays for these holes have not yet been received, these holes demonstrate that the mineral system remains open to the north west. The implication of these dimensions is that the mineralisation at Crunchie is part of a much larger, shallowly buried system with very high potential for the discovery of a major gold and silver deposit.
Other Prospects in Rannes Gold Project
The Rannes Gold Project drilling program is continuing at the Kauffmans and Homestead prospects to the north east of Crunchie (see Figure 2), where the drilling has encountered similar material with strong pyrite and siliceous breccias. The extent of the mineralised envelope is currently larger than at Crunchie. Assays are expected in the coming weeks.
The current Rannes program follows a reconnaissance drilling program last year which returned:
- Crunchie Prospect: 32m @ 1.84g/t Au & 41g/t Ag in hole Cru 14;
40m @ 1.17g/t Au & 76g/t Ag in hole Cru 15 from 12m depth;
8m @ 1.84g/tAu & 106g/t Ag in hole Cru 15 from 70m depth
- Kauffmans Prospect: 38m @ 1.78g/t Au & 25g/t Ag in hole Kau 6.
- Porcupine Prospect: 8m @ 6.23g/t Au & 5.9g/t Ag in hole Por 3.
Contact
Mr Nicholas Mather
Managing Director - D'Aguilar Gold Limited
Ph: 07 3303 0680 or 0417 880 448
Mr Greg Runge
General Manager ‐ D'Aguilar Gold Group
Ph: 07 3303 0680 or 0418 546 739
Mr Duncan Cornish
Company Secretary
Ph: 07 3303 0680 or 0407 623 302
Email: info@daguilar.com.au
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