26th Jul 2007 12:50
Allied Gold Limited26 July 2007 For Immediate Release 26 July 2007 ALLIED GOLD LIMITED ("ALLIED" OR "THE COMPANY") QUARTERLY REPORT FOR THE PERIOD ENDED 30 JUNE 2007 HIGHLIGHTS - First gold production from the company's 100% owned Simberi Oxide Projectremains on track for October 2007. Allied Gold has spent AUD$56.53 million andcommitted AUD$66.44 million to the project thus far, representing 68% and 80%respectively of the total capital expenditure budget. - Accommodation village and wharf both completed and fully operational. The ballmill and scrubber were completely installed by early July 2007. - Significant results were received from road channel sampling on the MonunCreek prospect, in the valley approximately midway between the Sorowar andPigiput deposits. The most striking results were: - 30m of 1.19 g/t gold - 90m of 1.79 g/t gold - 95m of 1.66 g/t gold - 295m of 1.17 g/t gold, including: - 30m of 2.87 g/t gold and also - 20m of 3.06 g/t gold - These channel sampling results indicate that Monun Creek most likelyrepresents the south-easterly extension of the Sorowar deposit, Simberi'slargest single deposit with a total resource of 1.258 million ounces and orereserves containing 546,000 ounces of gold. This apparent strike extension is inthe order of 300 metres, which is significant in the context that Sorowar has astrike length of approximately 700 metres. - Exploration drilling is poised for recommencement in the September quarter withdelivery and commissioning and deployment of four drilling rigs anticipatedduring the period. Copies of the announcement can be viewed and downloaded on the Company's website - www.alliedgold.com.au or as a link to this announcement. http://www.rns-pdf.londonstockexchange.com/rns/9271a_-2007-7-26.pdf For more information:Mark Caruso T:+61 8 93533638 Managing Director Roland Cornish T: +44 (0) 20 7628 3396 Beaumont Cornish Limited The information in this Stock Exchange Announcement that relates to explorationresults, together with any related assessments and interpretations, has beenapproved for release by Mr Bohdan (Bob) Burban, Dip.App.Geol., F.Aus.I.M.M., aqualified geologist and full-time employee of the Company. Mr Burban s hassufficient experience which is relevant to the style of mineralisation and typeof deposit under consideration and to the activity which he is undertaking toqualify as a Competent Person as defined in the 2004 Edition of the"Australasian Code for Reporting of Exploration Results, Mineral Resources andOre Reserves." The information in this Stock Exchange Announcement that relates to Ore Reserveshas been compiled by Mr J Battista of Golder Associates who is a Member of theAustralasian Institute of Mining and Metallurgy. Mr Battista has had sufficientexperience in Ore Reserve estimation relevant to the style of mineralisation andtype of deposit under consideration to qualify as a Competent Person as definedin the 2004 Edition of the "Australasian Code for Reporting of ExplorationResults, Mineral Resources and Ore Reserves". This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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