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DGR GLOBAL LIMITED — Capital/Financing Update 2007
Aug 28, 2007
64771_rns_2007-08-28_ffa13d9d-a345-421f-9485-6a7344b44391.pdf
Capital/Financing Update
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ASX Announcement
29 August 2007
Drilling Results Extend Mineralisation at Anduramba Molybdenum Project
Highlights
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Further definition of high grade Molybdenum (Mo) zones; high Silver (Ag)
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Hole 33: 84 m @ 0.11% Mo & 5.1g/t Ag = 0.12% Mo Equivalent (Eq)
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Hole 36: 88m @ 0.075% Mo & 23 g/t Ag = 0.10% Mo Eq
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Hole 37: 114m @ 0.095% Mo & 11.8 g/t Ag
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Hole 37: 114m @ 0.095% Mo & 11.8 g/t Ag = 0.11% Mo Eq
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� Hole 38: 32m @ 0.05% Mo & 74g/t Ag, 0.26% Cu = 0.13% Mo Eq
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(refer footnote below regarding metal equivalence aggregation methods)
D’Aguilar Gold Limited’s wholly owned subsidiary, Anduramba Molybdenum has received assays for the first 8 holes of a 20 hole reverse circulation drilling program at Anduramba, located 30 kilometres north of Toowoomba, SE Qld. The new results confirm further high grade intersections and extend the mineralisation to the northeast beyond the current resource outline. The previous Inferred Resource estimate for Anduramba (refer ASX Announcement 2 July 2007) was 26.6 million tonnes (above a cut-off grade of 0.03% Mo Equivalent) averaging 0.07% Mo Equivalent.
Location of the latest 20 drillholes, numbered 33 to 52 are shown in Figure 1 and details for the first 8 holes are summarised in Table 1.
Long intersections of high grade molybdenum (“Mo”) were evident in several holes, especially in Hole 33 averaging 0.11% Mo over 84 metres (36 – 120m) and Hole 37 averaging 0.1% Mo over 114 metres (4 – 118m). Elevated silver (“Ag”) levels were also encountered in Holes 37, 38 and 39, most notably, a 32m section of Hole 38 which averaged 73.6 g/tonne Ag. These results demonstrate a late-stage silver-copper mineralising event that enhances the scope for significant silver-copper credits in parts of the Anduramba orebody.
Assays for the remaining 12 holes of the program are expected in 4 weeks and independent resource modelling and open pit design will then be undertaken.
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On behalf of the board, D P Cornish 29 August 2007
Footnote regarding estimation and metal equivalents assumptions :
The company undertakes a composite assay analysis of every 2 metres in each drill hole.
Cut-off grades are based on Molybdenum Equivalence (“Mo Equiv”) and the inputs for this calculation are:
| 1 troy ounce (oz) = |
1 troy ounce (oz) = |
31.103477 grams (gm) |
31.103477 grams (gm) |
Ratio Today’s Spot Prices for comparison with the February outlook prices used 1.00 US$32/lb 7.88 US$11.90/oz 0.1 US$3.36/lb |
|---|---|---|---|---|
| 1 pound (lb) = |
453.5924 grams (gm) |
|||
| Metal* | Prices (US$) Feb 2007 outlook |
Units | Price (US$) per gram (gm) |
Ratio |
| Mo Ag Cu |
$25.00 $13.50 $2.50 |
/ lb / troy ounce / lb |
$0.055 / gm $0.434 / gm $0.006 / gm |
1.00 7.88 0.1 |
Where Mo = Molybdenum, Ag = Silver and Cu = Copper (all in ppm)
In the Company’s opinion all elements included in the metal equivalents calculation have a reasonable potential to be recovered, approximately in the proportions of 70% to 85% for Mo, 75% to 85% for Ag and 70% to 80% for Cu based on preliminary metallurgical testwork results to date. Recoveries may change as testwork proceeds. On this basis, the formula used to calculate Mo Equiv is as follows:
Mo Equiv = Mo + 7.88xAg + 0.1xCu
Competent Persons Statement
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Nicholas Mather B.Sc (Hons) Geol., who is a Member of The Australian Institute of Mining and Metallurgy. Mr Mather is employed by Samuel Holdings Pty Ltd which provides certain consultancy services including the provision of Mr Mather as the Managing Director of D’Aguilar Gold Ltd.
Mr Mather has sufficient experience which is relevant to the style of mineralisation and type of deposit being reported and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’ (the JORC Code). Mr Mather has consented in writing to the inclusion in this report of the matters based on the information in the form and context in which it appears.
For further information contact:
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Mr Nicholas Mather, Managing Director (07 3303 0680 or 0417 880 448);
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� Mr Greg Runge, General Manager (07 3303 0680 or 0418 546 739); � Mr Duncan Cornish, Company Secretary (07 3303 0680 or 0407 623 302);
or at [email protected]
Electronic copies and more information are available on the Company website: www.daguilar.com.au
2 D’Aguilar Gold Limited
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Figure 1: Anduramba Molydenum Deposit and Drillhole Locations
3 D’Aguilar Gold Limited
Table 1: Recent drill hole locations, assay results and Molybdenum Equivalents (Mo Equiv)
| Dip | Hole | Mo | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Drillhole No |
GDA94 East |
GDA94 North |
Elevatio n m ASL |
Azimut h mag |
degree s |
TD metres |
From metres |
To metres |
Length metres |
Mo, Ag, Cu Grade | Equiv **ppm *** |
Comments |
| 033 | 411699 | 6997329 | 494 | 315 | 60 | 168 | 0 | 168 | 168 | 694ppm Mo, 4ppm Ag, 154ppm Cu |
741 | Established grade continuityin N sector QFP |
| Includes | 36 | 120 | 84 | 1139ppm Mo, 5.1ppm Ag, 234ppm Cu |
1202 | High Grade Mo Zone | ||||||
| 034 | 411626 | 6997349 | 488 | 315 | 60 | 180 | 38 | 96 | 58 | 602ppm Mo, 5.2ppm Ag, 213ppm Cu |
665 | NW Sector infill |
| 035 | 411614 | 6997383 | 488 | 315 | 60 | 198 | 56 | 170 | 114 | 564ppm Mo, 2.9ppm Ag, 161ppm Cu |
602 | Host Contact Zone |
| Includes | 158 | 170 | 12 | 2419ppm Mo, 2.1 ppm Ag, 111ppm Cu |
2447 | High Grade Mo Zone | ||||||
| 036 | 411627 | 6997346 | 488 | 135 | 60 | 186 | 0 | 186 | 186 | 496ppm Mo, 14ppm Ag, 268ppm Cu |
633 | North-central infill in elevated Ag zone |
| Includes | 44 | 132 | 88 | 750ppm Mo; 23ppm Ag, 462ppm Cu, 0.1% Zn |
977 | High grade Ag zone | ||||||
| 037 | 411594 | 6997252 | 463 | 183 | 60 | 198 | 0 | 198 | 198 | 697ppm Mo, 8.2pm Ag, 107ppm Cu |
772 | Central-southern infill hole |
| Includes | 4 | 118 | 114 | 948ppm Mo, 11.8ppm Ag, 126ppm Cu |
1053 | High Grade Mo Zone | ||||||
| 038 | 411642 | 6997284 | 472 | 315 | 60 | 162 | 0 | 162 | 162 | 396ppm Mo, 25ppm Ag, 903ppm Cu, 0.16% Zn |
684 | Central infill hole firming elevated Ag-Cu zone |
| includes | 0 | 24 | 24 | 683ppm Mo, 12ppm Ag, 57ppm Cu |
785 | Oxide zone | ||||||
| Includes | 42 | 74 | 32 | 485ppm Mo, 73.6ppm Ag, 2603ppm Cu |
1325 | High grade Ag-Cu intercept |
||||||
| Includes | 40 | 122 | 82 | 451ppm Mo, 42ppm Ag, 1594ppm Cu, 0.2% Zn |
942 | High grade Ag-Cu intercept |
||||||
| 039 | 411647 | 6997278 | 472 | 135 | 60 | 161 | 0 | 161 | 161 | 429ppm Mo, 10.7pm Ag, 224ppm Cu |
535 | |
| Includes | 48 | 86 | 38 | 669ppm Mo, 17.2ppm Ag, 683ppm Cu |
872 | Elevated Ag-Cu zone | ||||||
| 040 | 411660 | 6997472 | 465 | 218 | 60 | 198 | 0 | 198 | 198 | 525ppm Mo, 2.8ppm Ag, 143ppm Cu, |
562 | Host zone contact & firm previous intercepts |
| includes | 44 | 162 | 118 | 786ppm Mo, 4ppm Ag, 173ppm Cu |
834 | Significant zone of elevated Mo |
(Note: * 1000ppm = 0.1%)
4 D’Aguilar Gold Limited