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DGR GLOBAL LIMITED — Regulatory Filings 2010
Oct 26, 2010
64771_rns_2010-10-26_cb1b472f-38da-4d38-911a-373e3c161b97.pdf
Regulatory Filings
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ASX ANNOUNCEMENT
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27 October 2010
Mt Isa Metals Limited (ASX: MET) – Exploration Update Burkina Faso Gold Project
The Directors of D’Aguilar Gold Limited (ASX Code: DGR) are extremely pleased to draw the attention of shareholders to today’s announcement by Mt Isa Metals Limited (ASX Code: MET) regarding the re‐ commencement of exploration activities at its Gold Project in Burkina Faso, West Africa.
The $3.6m program will provide a comprehensive assessment of multiple gold targets across the Company’s significant land holding in Burkina Faso. MET holds multiple targets that each have potential for discovery of large‐scale gold deposits.
Highlights :
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$3.6 million Burkina Faso gold exploration program commenced following cessation of the northern hemisphere wet season.
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RC drilling of high priority targets scheduled to commence in early November with initial assay results expected before year end.
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Priority drill targets include:
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Nabanga – 3.6km long high grade (+10g/t Au) quartz vein system;
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Bantou – 1.0km long artisanal workings with rock chips to 1.5m @ 43.1g/t Au.
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High resolution helicopter-borne magnetic/radiometric survey commenced over Yactibo and Tapoa projects to identify additional gold targets.
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Regional soil sampling programs commenced over selected project areas.
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Regional exploration office established in Ouagadougou - 5 full time geologists currently “on the ground”.
The announcement can be viewed in full on the ASX website under the Mt Isa Metals code of MET , or in the “Latest News” section of the Mt Isa Metals website: mtisametals.com.au
D’Aguilar Gold Limited holds 52 million shares in Mt Isa Metals Limited, which equates to approximately 38% of the issued capital.
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On behalf of the Board K M Schlobohm Company Secretary
Competent Persons Statement
The information herein that relates to Exploration Results 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 (and a director of D’Aguilar Gold Ltd’s subsidiaries).
Mr Mather has more than five years 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). This public report is issued with the prior written consent of the Competent Person(s) as to the form and context in which it appears.
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About D’Aguilar Gold
D’Aguilar Gold Limited is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world‐class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub‐economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
D’Aguilar Gold currently holds 52 million shares (37.9%) in Mt Isa Metals Limited (ASX: MET) embarking on an exciting gold strategy in Burkina Faso, 35.2 million shares (12.6%) in Solomon Gold plc (LSE: SOLG), and 58.5 million shares (53.5%) in AusNiCo Limited (ASX: ANW).
D’Aguilar is progressing the IPO and ASX listing of Navaho Gold Pty Ltd (gold and silver). Further, D’Aguilar has announced the proposed merger of its 86% owned Ridge Exploration (iron ore, titanium and aluminium) with Canadian‐listed Coltstar Ventures Inc.
In the development pipeline, D’Aguilar is also progressing plans for other subsidiaries – Anduramba Molybdenum (molybdenum and copper) and Barlyne Mining (porphyry copper, gold and molybdenum) and its energy‐focused subsidiary Armour Energy . Several other projects are at earlier stages of development, and will be announced to the market when exploration tenements have been secured.
D’Aguilar has 322,002,760 shares on issue.
Email: [email protected]
Electronic copies and more information are available on the Company website: www.daguilar.com.au
For further information contact:
Mr Nicholas Mather
Managing Director D’Aguilar Gold Ltd Ph: 07 3303 0680
Karl Schlobohm
Company Secretary, D’Aguilar Gold Ltd Ph: 07 3303 0680
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