Continued High-Grade Gold Intercepts From Burbanks

The Burbanks Gold Project is located on a granted mining lease just 9.0km south of Coolgardie, Western Australia and is supported by a network of existing infrastructure including grid power, sealed roads and several neighbouring toll treatment plants, all of which will serve to expedite any future production decisions.

The most recent results form part of the current 10,000 metre Phase-1 drill campaign principally targeting the unclassified mineralisation supporting the recent JORC (2012) Exploration Target range of 3.3-3.6Mt at 2.0-2.8g/t Au for 215,000 – 230,000 ounces of contained gold (Appendix 1).

This Exploration Target is entirely separate from the contiguous Mineral Resource of 3.4Mt @ 2.5g/t gold for 277,547 ounces (Table 3) and does not include over 2.0km of largely untested strike potential. The most recent significant intercepts from the Phase-1 drill campaign include (Figure 1):

• BBRC405D: 3.00 metres @ 7.28g/t Au from 131.0 metres, including:
  • 1.00 metre @ 19.20g/t Au from 132.0 metres
• BBRC377D: 3.20 metres @ 4.71g/t Au from 185.8 metres, including:
  • 0.37 metres @ 29.50g/t Au from 185.8 metres
• BBRC377D: 7.80 metres @ 3.01g/t Au from 194.7 metres, including:
  • 1.40 metres @ 8.64g/t Au from 196.6 metres

• BBRC428D: 1.32 metres @ 6.68g/t Au from 210.0 metres, including:
  • 0.32 metres @ 20.40g/t Au from 210.0 metres
• BBRC424D: 1.98 metres @ 4.46g/t Au from 242.0 metres, including:
  • 0.59 metres @ 12.00g/t Au from 243.0 metres

This northern extension will form a core component of the latter two phases of drilling to be undertaken post the completion of Phase-1 in March, with all phases serving to test the true geological potential of the Burbanks Gold project across the entire 5.5km strike of the Burbanks Shear Zone (Figure 4).

• Phase 1: 10,000m infill drill campaign targeting unclassified mineralisation as defined by the Exploration Target
  
• Phase 2: 15,000m targeting down dip & along strike extensions of known mineralised lodes
• Phase 3: 25,000m targeting greenfields targets and extensions down to 500.0 metres

Drilling is scheduled to resume this week, with the mobilisation of the first of two multipurpose (reverse circulation and diamond) drill rigs, with the second drill rig scheduled to arrive mid-February. The initial focus of drilling at Burbanks will be the completion of the Phase-1 drill campaign following which, Phase-2 and Phase-3 will be prioritised.

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