Burey Gold Limited : 6 October - Results Demonstrate Gold Persists to Depth at Balatindi
Mt Edon House
30 Ledgar Rd Balcatta. WA. Australia.
P. +61 8 9240 7660
F. +61 8 9240 2406
A.B.N. 14 113 517 203
Sud 2eme Droit, Immeuble Ali Youssef Kochour,
Quartier Boulbinet, [entre 5eme Av. et 5eme Boul.]
Conakry.
Républic De Guinée.
B.P. 3938. Conakry. Républic De Guinée.
P. +224 64 35 48 02
+224 68 02 19 68
Hse 2/ 47 Giffard Road,
East Cantonments, Accra. Ghana. P. +233 244 317 632
www.bureygold.com
6 October 2011
Results Demonstrate Gold Persists to Depth at Balatindi
Burey Gold Limited (ASX: BYR, “Burey”) announces gold assay results from the last four holes of its ten- hole 3,470m program of diamond drilling completed at the Balatindi Central Polymetallic Prospect (“CPP”) in Guinea, West Africa.
The multi-element analyses from a further five of these holes have also been returned and are presented herein. The remaining multi-element analyses, from holes BLDD009 and BLDD010, are awaited.
Highlights
Gold assay results include:
- 24m at 0.64g/t Au from surface; 23.6m at 0.72g/t Au from 30m; 32m at 0.82g/t Au from 79m; 33m at
0.61g/t Au from 159m and 48.8m at 0.68g/t Au from 266.2m from BLDD007
- 9m @ 0.73g/t Au from surface, 38.3m at 0.61g/t Au from 16m, 27.3m at 0.71g/t Au from 56.7m and
22m @ 0.51g/t from 148m from BLDD008
- 26.9m at 0.60g/t Au from BLDD009
- 73.5m at 0.75g/t Au from 28m; 49m at 0.6g/t Au from 195m and 50.0m at 0.64g/t Au from 409m from BLDD010
The latest multi-element results include:
- 47.2m @ 1.78g/t Ag from 3.8m and 59.8m @ 1.42g/t Ag from 58m from BLDD004
- 59.2m @ 0.19% Cu from 3.8m and 19.5m @ 0.14% Cu from 65m from BLDD004
- 73.9m @ 2.99g/t Ag from surface and 26.75m @1.54g/t Ag from 76.9m from BLDD005
- 73.9m @ 0.2% Cu from surface from BLDD005
- 12m @2g/t Ag from surface and 49m @ 0.8g/t Ag from 204m from BLDD006
The Balatindi CPP mineralisation has not been closed off at depth and in all directions.
1
Comments on the Balatindi CPP
The BLEG gold assay results for holes BLDD001 – BLDD006 inclusive and multi-element (ICP/MS) results for BLDD001– BLDD003 inclusive have been reported previously. Drill hole collar locations are presented in Table I. Composited summaries of the gold assay results for the four holes (BLDD007 to BLDD010 inclusive) are presented in Tables III, IV, V and VI. Multi Element analyses are presented in Tables VII to XI inclusive below.
Considerable detailed study remains to be undertaken before the full potential of the Balatindi CPP
polymetallic mineralisation can be properly understood.
The proximal expressions of anticipated leakage of remobilised gold mineralisation have not yet been located. The gold tenor at the Balatindi CPP is generally low, but nonetheless very persistent. The mineralised system in which gold is expressed, appears to have been sufficiently pervasive to impose a remarkably uniform gold grade through and across substantive thicknesses (>100m) of host rock and as such can be expected to extend well beyond the confines in which the Company has drilled to date, significantly aligned with the gold-in-soil geochemical foot-print. The mineralised area is pervasively well silicified which is reflected in its unusually thin, 3-5m thick poorly developed and weathered surface soil horizon.
Burey has generated 5 cross sections for Balatindi showing the historical unverified Mining Italiana drill holes and the more recent 10 Burey diamond drill holes. For ease of viewing and due to limitations of an A4 format these sections are available on the Company’s web site at www.bureygold.com.
At this early stage of exploration, neither the shape nor the axis of the Balatindi polymetallic mineralisation has been determined, thus the true widths of drill intercepts are conjectural. Channelled proximal expressions of anticipated leakage of remobilised gold mineralisation have not been located.
In the upper part of some of Burey’s drill holes, magnetite and gold mineralisation appears to follow a relatively flat “flow foliation” fabric where intercept widths may be close to true. Elsewhere, to depth, mineralised intersections may prove to be quite oblique to the drill-hole trajectory. Conjectured late mineralising plumes appear to often reflect the movement of emplacement from a hydrous state.
Other gold grade pockets at Balatindi, which appear to have narrower associated widths, may reflect changes in the host rocks and/or a response to, or lacking in the overprint of mineral mobilising phases. Detailed assessment of drill log data is required to allow better interpretation and understanding.
Carrying the potential credit of additional metals variously anomalous in silver, barium, bismuth, copper, molybdenum, antimony, and lesser thorium, uranium, tungsten, rare earth elements over quite broad widths, the polymetallic significance of the Balatindi CPP mineralisation needs yet to be determined. The early appraisal of the CPPs metallurgical character is also required to establish its development potential.
Burey has located five primary uranium and associated rare earth element prospects elsewhere on the
Balatindi licence and will follow up on these in due course.
Sampling and Assay Procedure
Burey has completed a 10 hole, 3,470m HQ diamond drill campaign at the Balatindi CPP. Half core samples from the entire 10 hole program submitted to Intertek Laboratories were used to generate two sample analysis streams from each sample interval, with all samples undergoing total sample preparation before being coned and quartered for:
