Nimrodel Resources Limited (ASX: NMR)

 

ASX RELEASE                                                                                                                                              20 January 2009

 

 

NIMRODEL SECURES TYUZ-ASHUISKAYA GOLD PROJECT, WESTERN KYRGYZSTAN

 

HIGHLIGHTS

 

??                     Strategic 70km?? Exploration Licence granted within gold-rich Chatkal region of Western Kyrgyzstan.

??                     Major existing gold deposits in the region include Almalyk (72Moz), Kockbulak (4Moz) and Jeeroy (3Moz).

??                     Over 7.5km of surface gold mineralisation identified at Saraysay-Tyllyaberdy with trenching grades up to 22 g/t Au.

??                     Best intersection from trenching data of 8 metres at 9.8g/t Au.

??                     Historical exploration including trenching supports potential for significant high grade targets (>5g/t Au) .

??                                                         First strategic gold acquisition by the Company in Kyrgyzstan. 

 

International mining company Nimrodel Resources Limited (ASX: NMR) is pleased to announce a further significant addition to its mineral portfolio in the Central Asian Republic of Kyrgyzstan following the granting of the Tyuz-Ashuiskaya Exploration Licence.

 

The Tyuz-Ashuiskaya Exploration Licence, which is located in the gold-rich Chatkal region of Western Kyrgyzstan (see Fig 1), is an under-explored area which includes the Saraysay-Tyllyaberdy gold deposit (see Fig 2) ? a 7.5 kilometre long zone of surface gold mineralisation.

 

Based on historical information including extensive surface trenching results, the Company considers that there is potential to define substantial gold resources of over 500,000oz of high-grade gold at grades in excess of 5g/t Au. 

 

The surface gold mineralisation was discovered by the USSR in the late 1950??s but, despite sporadic exploration, there has been no drilling of the mineralisation to date. Exploration has been limited to surface trenching with a total of 43 trenches completed over a 7.5 kilometre strike length. Assay results from this trenching have shown the mineralisation to be relatively consistent, with grades ranging from 0.15g/t Au up to 22g/t Au over widths from 0.3m up to 8.0m. 

 

The average grade of gold in the trenches is 3.7g/t Au over an average width of 2.4m, with a best intersection reported in the historical data of 8.0m at 9.8g/t Au. The higher grade intersections are mostly confined to two zones of 800m and 1,000m of strike length respectively. 

 

Figure 2 and Table 1 (see below) shows a geological plan of the Sarayay-Tyllyaberdy deposit and the results of the trench sampling published by the Kyrgyz State Agency for Geology and Mineral Resources (??Gold Resources of Kyrgyzstan ? Bishkek 2007??).

 

The mineralisation is considered to be skarn-type, which is one of the most common styles of mineralisation known in this region. The Chatkal region and its extension into Uzbekistan hosts a number of very large gold deposits and porphyry systems, including:

 

??         Almalyk (Uzbek) ? 72Moz gold and 2Mt copper;

??         Kockbulak (Uzbek) ? 4Moz gold; and

??         Jeeroy (Kyrgyz) 3Moz gold.  

 

All of these deposits are located within 200km of Nimrodel??s Tyuz-Ashuiskaya Project.

 

Background

 

Gold in Kyrgyzstan

 

Kyrgyzstan covers approximately one third of the world-class Tien Shen gold belt, which includes some of the largest gold mines in the world including Muruntau (170Moz), Almalyk (70Moz) and Kumtor (17Moz). It also contains numerous deposits between 1 and 10Moz, most of which outcrop at surface and many of which are still to be developed.

 

The Tien Shen gold belt represents one of the most underexplored and underdeveloped gold belts of the large known gold provinces in the world with only limited work undertaken by western companies.  

 

Nimrodel has recognised an opportunity to acquire world-class gold prospects in Kyrgyzstan through its local subsidiary, Linia Prava. Linia Prava??s management includes former senior Geological Survey and Government personnel.

 

The Company has embarked on a strategy to review both brownfields gold projects as well as highly prospective exploration areas in a number of regions in Kyrgyzstan with the aim of acquiring a balanced portfolio of gold projects. The granting of the Tyuz-Ashuiskaya Exploration Licence represents the first such acquisition by the Company.

 

Commenting on the acquisition, Nimrodel??s Managing Director, Mr John Hebenton said: ??The acquisition of our first gold project confirms the Company??s position as a diversified explorer in the Kyrgyzstan region. Exploration on the gold project will be conducted in parallel with our ongoing uranium exploration programme in the Batken Province.

 

??As a result of work carried out over the past 18 months, the Company has recognized that there is enormous potential for the development of gold mines in Kyrgyzstan,?? he added.  

 

??The region itself has a very large gold inventory, but remains very poorly explored and developed by modern standards ? The Tyuz-Ashuiskaya Gold Project is no exception and fits the profile as an attractive greenfields exploration target,?? he added.

 

The initial focus of exploration at Tyuz-Ashuiskaya will be the development of a drilling programme to assess the extent of resources from within the higher grade portions of the main system.

 

- ENDS -

 

Enquiries:

John Hebenton, Managing Director

Mobile: +61 (0) 418 962 879

Email: johnh@liniaprava.com.au

 

 

 

About Nimrodel

 

Nimrodel Resources is an international exploration company which is developing a portfolio of highly prospective, uranium, precious and base metals projects in Kyrgyz and Australia. The Company has three core projects: the Batken Province and Tyuz-Ashuiskaya Projects in Kyrgyzstan and the Buckaroo Project in Australia.

 

The Batken Oblast Uranium Project in Southern Kyrgyz covers 3,862 km?? and encompasses a highly prospective area with geology similar to that of the Mailuu-Suu Uranium Mine, which historically produced approximately 10,000 tonnes of high-grade uranium. The leases are in the Fergana Basin, within 10km of an existing uranium plant at Hojent in Tajikistan and within 45-100kms of former Soviet uranium mines, including Mailuu-Suu and Tuya Muyun.

 

Having completed a significant 20,000 line km radiometric and magnetic air survey program at Batken in December 2007, Nimrodel identified 29 high priority targets to be defined for a ground survey and drilling in 2008. The ground survey, as well as geological mapping and an IP survey program of the highest priority radiometric anomalies, has since been completed and a targeted drilling program will re-recommence after the northern winter in March 2009.

 

 

 

 

Figure 1

 

Location of Gold License in Western Kyrgyzstan

 

 

Figure 2

 

Trench N??	Au g/t	Thickness. ??		Trench N??	Au g/t	Thickness. ??
1	1.5	2.0		23	12.0	1.0
2	3.0	0.4		24	3.0	3.0
3	0.2	2.0		25	3.0	3.0
4	0.3	3.0		26	12.4	1.0
5	1.5	3.0		27	10.2	1.0
6	7.0	1.0		28	7.6	1.5
7	0.7	5.0		29	9.8	8.0
8	12.0	0.3		30	4.1	1.0
9	4.9	2.0		31	7.0	1.0
10	12.0	0.5		32	3.5	1.5
11	3.0	2.5		33	6.0	0.3
12	7.0	2.0		34	11.2	1.0
13	7.0	8.0		35	7.0	1.0
14	1.5	2.0		36	2.6	0.5
15	1.2	8.0		37	5.6	0.8
16	2.0	1.0		38	3.6	1.5
17	7.0	1.0		39	6.7	1.0
18	0.2	1.0		40	4.0	0.7
19	2.0	1.0		41	6.5	1.9
20	0.5	8.0		42	22.0	0.8
21	0.15	1.0		43	3.6	1.5
22	0.2	1.0
Average grade of gold in these profiles is 3.73g/t, average thickness ? 2.38??.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table 1

Published results of historical trench sampling at the Sarayay-Tyllyaberdy gold prospect.