btv - new gold issue today

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    Batavia is the reactivation of the Murchison assets previously held by Menzies Gold, with a new management team. The 10c issue was three times oversubscribed and there is going to be a lot of news coming out of this one. Check out the grades on the latest resource at Deflector:

    Resource Upgrade
    Batavia has completed a new resource estimate for the Deflector deposits incorporating the results from the recent drilling completed in July 2003.
    On a gold equivalent basis where 1% Cu = 1.4g/t Au, the new resource estimate is: 556,000 tonnes @ 9.5g/t Au equivalent for approximately 170,000 gold equivalent oz’s.
    Using a 50g/t Au and a 13% Cu upper cut the new undiluted geological resource estimate for all Deflector deposits now totals:

    556,000 tonnes @ 7.12g/t Au and 1.70% Cu for approximately 127,000 oz’s Au and 9,500 tonnes of copper.
    From the supplementary prospectus

    Exploration and Corporate Update
    HIGHLIGHTS
    Exploration
    Recent reverse circulation drilling at the Deflector Prospect demonstrates continuity of highgrade Au/Cu mineralisation at depth. Significant intersections include:
    Metres Au g/t Cu % From Metres
    3 41.99 1.29 166
    8 41.04 2.91 164
    1 16.45 1.51 111
    1 15.98 5.35 156
    3 9.37 0.49 118
    3 8.40 1.01 103
    8 7.46 2.09 138
    5 6.10 0.27 107

    This one could be a cracker!
 
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