12th Apr 2005 07:01
Albidon Limited12 April 2005 Suite 1 Hillway House 141 Broadway Nedlands 6009ALBIDON LIMITED Western Australia ARBN 107 288 755 Tel:+61 8 9389 6300 Fax: +61 8 9389 6400 Email:[email protected] ASX Code: ALB AIM Code: ALD via electronic lodgement Paste the following link into your web browser to download the PDF document related to this announcement: http://www.rns-pdf.londonstockexchange.com/rns/9265k_-2005-4-12.pdf New Gold Discovery Confirmed at Nefza, Tunisia HIGHLIGHTS • Sampling has confirmed the discovery of gold mineralisation at Kef El Agueb in northwest Tunisia (Nefza Project). • Rock, soil and stream sediment samples define a zone that has a strike length of at least 5km and is associated with rocks exhibiting strong hydrothermal alteration. • Rock sample values range up to 1g/t Au in preliminary sampling, with soil values up to 0.5g/t Au. • Follow-up rock sampling and geological mapping are under way. Nefza Project The Nefza Permit covers an area of 4,160 sq km of sediments, volcanic rocks andgranites in northwestern Tunisia (Figure 1in the hyperlink above). In additionto the presence of numerous occurrences of silver and base metals, patterns ofhydrothermal alteration by iron and silica suggest the region is prospective forgold deposits. Sampling Program Albidon has conducted a reconnaissance geochemical sampling program over anumber of high priority broad target zones, mainly in the western and northernportions of the tenement. The program was designed to test the gold geochemicalresponse of major NNE and EW-trending fault structures that are associated withstrong positive gravity anomalies and appear to control the distribution ofvolcanic rocks and zones of alteration. Approximately 20% of the area ofinterest has been covered to date. About 460 stream sediment samples were collected along the prospectivestructures and these were analysed using the BLEG technique ('Bulk LeachExtractable Gold'). Follow-up samples of soils and rocks collected fromanomalous areas were analysed by the fire assay technique. Results The results identified several zones of anomalous gold values, the mostprominent being at Kef El Agueb in the southwestern part of the Nefza tenement.These results represent a new discovery of gold mineralisation, none waspreviously known in this area. Limited rock chip sampling returned values up to1g/t Au, with soils yielding values up to 0.5g/t (see Figure 2in the hyperlinkabove). A number of soil samples also have highly anomalous copper contents, upto 1.1% Cu, and further work is required to establish whether there is arelationship between the gold mineralisation and historic base metal workings inthe region. Several other BLEG anomalies were defined in the initial sampling program andadditional assays are pending for these zones. Planned Program Additional rock chip sampling and geological mapping is being undertaken toassess the significance of the gold mineralisation at Kef El Agueb. This workhas the objective of defining the overall extent of the mineralised zone andidentifying drill targets. The sampling will also examine in detail thegeochemistry of a range of other metals to identify the 'style' of the goldmineralisation and use this to guide future exploration at the prospect. Infill sampling is under way to confirm and follow up the stream sediment goldanomalies identified at several other localities throughout the Nefza tenement. Information in this report relating to exploration results is based on datacompiled by Donal Windrim, who is employed by the Company. He has sufficientrelevant experience to qualify as a Competent Person under the 2004 Edition ofthe Australasian Code for reporting of Exploration Results, Mineral Resourcesand Ore Reserves. Donal Windrim consents to the inclusion of the data in theform and context in which it appears. If you have any queries please contact the Company Secretary, Nicholas Day on+61 8 9389 6300 or email [email protected]. Additional information may also be viewed on Albidon's website atwww.albidon.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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