GIR 0.00% $5.43 giralia resources nl

Giralia announcement

  1. 42 Posts.
    This one could be shaping up intoi something interesting...
    GGIR - Gold Enriched Zone Intersected at Blue R 1/1 (P)
    AAP News
    10:01:020 8/07/2002
    GIR - ASX Company Announcement
    8 July 2002
    Part 1/1

    HOMEX - Perth
    Gold Enriched Zone Intersected at Blue Rose Project

    The Board of Directors of Giralia Resources NL is pleased to report
    the results of additional drilling at the Company's 100% owned Blue
    Rose copper-gold project in South Australia.

    A further four reverse circulation ("RC") holes were completed at
    Blue Rose in mid-June 2002 for a total of 571 metres. Results include
    a zone of significantly higher gold grades than have been intersected
    to date at Blue Rose in hole RCBR030, which returned a wide zone of
    enriched gold-copper, including 48 metres 0.82% copper and 1.01
    grams per tonne gold.

    The mineralised interval is strongly zoned, with an upper copper rich
    zone (32 metres 1.08% copper, including 16 metres 1.54% copper,
    0.78 grams per tonne gold from 88 to 104 metres) and a lower gold
    rich zone (28 metres 1.29 grams per tonne gold, 0.42% copper from
    104 metres to 132 metres down hole). Individual 4 metre composite
    samples returned up to 2.90 grams per tonne gold.

    Hole RCBR030 was collared 85 metres north of Blue Rose discovery hole
    RCBR021 (27 metres 1.41% copper, 0.33 grams per tonne gold).

    Mineralisation in RCBR030 is associated with disseminated bornite and
    chalcopyrite within a zone with conspicuous secondary biotite. The
    zone of mineralisation is almost flat-lying on this section, remains
    open and appears to be thickening to the north.

    Hole RCBR032, located 300 metres east of RCBR030, intersected a thick
    zone of secondary copper mineralisation marked by disseminated
    malachite and chrysocolla. The interval from 28 metres to 106 metres
    (end of hole) returned 78 metres 0.37% copper and 0.1 grams per
    tonne gold, including 4 metres 1.24% copper and 0.32 grams per
    tonne gold.

    RC drilling by Giralia has now intersected zones in excess of 1%
    copper on four consecutive, 100 metre spaced drill sections at Blue

    A program of bedrock rotary air blast ("RAB") drilling was also
    completed in June 2002, comprising 85 holes for 950 metres (average
    hole depth approximately 11 metres).

    Shallow holes were drilled on a 400 metres x 100 metres grid over a
    2.4 x 1.5 kilometre area surrounding the area of Giralia's RC
    drilling at Blue Rose with the objective of penetrating the thin,
    younger cover sequence to enable the collection of a single sample of
    weathered bedrock for assay and geological logging. Bedrock was
    successfully intersected in 74 of 85 holes.

    Significantly, the bedrock drilling program has confirmed that the
    skarn sequence that hosts copper-gold mineralisation at Blue Rose is
    in excess of 1 kilometre thick. RC drilling by Giralia to date has
    tested only a 150 metre thick portion of the total skarn package,
    associated with a linear magnetic anomaly, close to the northern
    margin of the skarn sequence.

    Assay results from the recent RAB drilling highlight four new areas
    of copper anomalism associated with the skarn sequence.

    Planning is in progress for further drilling at Blue Rose, and to
    test the newly defined copper anomalies.

    R M Joyce

    Phone: (08) 9481 4440
    Fax: (08) 9321 0070

    ends - AAP

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