9 December 2008
CATALPA drill results all gold
hIGHLIGHTS
?
Assay results received for WDD148; and WDD149, the 5th and 6th drill
holes from Catalpa's programme aimed at testing high grade underground targets
at Edna May Gold Project
?
Visible gold
encountered in all drill holes in current programme
?
Further substantial
intercepts of Edna May Reef at depth
Catalpa Resources (ASX:CAH), Perth-based
emerging gold producer, today reported further encouraging assay results from
the 5th and 6th holes in the current drill programme, aimed at
testing high grade arcuate reef structures at its
wholly-owned Edna May Gold Project in Western Australia.
Bruce McFadzean, Catalpa
Resources Managing Director confirmed visible gold was present in both drill
holes, consistent with the previous four holes in the programme.
Assay results for drill holes WDD148 and WDD149
include further significant intercepts of quartz-sulphides
and quartz 'stockworks' within the Edna May Gneiss, including Edna
May Reef:
|
|
m
|
Au
g/t
|
from
(m)
|
to
(m)
|
|
WDD148
|
1.12
|
68.5
|
402.08
|
403.20
|
|
|
1.04
|
5.8
|
421.42
|
422.46
|
|
|
0.90
|
7.1
|
452.90
|
453.80
|
|
|
0.52
|
12.1
|
489.35
|
489.87
|
|
|
0.27
|
7.0
|
542.19
|
542.46
|
|
|
|
|
|
|
|
WDD149
|
12.68
|
4.8
|
479.96
|
492.64
|
|
inc
|
1.24
|
31.3
|
479.96
|
481.20
|
|
|
0.63
|
7.4
|
485.10
|
485.73
|
|
|
1.15
|
5.6
|
491.49
|
492.64
|
WDD148 intercepts comprise quartz-sulphides (pyrite,
pyrrhotite) with visible gold in the 402.08m to 403.20m interval. The WDD149
intersection of 1.24m @ 31.3g/t Au consists of quartz-sulphides (pyrite,
pyrrhotite) also with visible gold.
"We are positive that the mounting
geological evidence supports both our interpretation of the continuation of the
Edna May reef at depth; and our belief that Edna May is prospective for
underground mining.
"The potential for underground mining in
the future presents further upside for what is already a viable project with
attractive margins.
"It is
now planned to carry out a detailed geological review of data from these 6
holes and previous drill intercepts to determine the next stage of the
programme," Mr McFadzean said.
Competent
Person
The
exploration data has been compiled according to the JORC Code for the reporting
of Mineral Resources and Ore
Reserves by Nick Winnall (Exploration Manager), a
full-time employee of Catalpa Resources Limited. Mr. Winnall
is a Member of the Australasian Institute of Mining and Metallurgy (AUSIMM) and
has sufficient experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he is undertaking
to qualify as a Competent Person as defined in the December 2004 edition of the
"Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves" (JORC Code). Mr. Winnall
consents to the inclusion in the report of the matters based upon his
information in the form and context in which it appears.
For
further enquiries contact:
Bruce
McFadzean
Warrick Hazeldine / Annette
Ellis
Managing
Director
Media and Investor Relations
Catalpa
Resources Limited
Purple Communications
Tel
(08) 9321
3088
Tel: (08)
9485 1254
ENDS
ABOUT
CATALPA RESOURCES
Perth-based Catalpa
Resources Limited (ASX: CAH) aims to become Australia's
next mid tier producer by developing its open pit assets, located on its
extensive and wholly-owned mining tenements in Western
Australia.
Catalpa is
on the cusp of a new phase of development towards production at its Edna May
(gold) Project, conveniently positioned a few kilometres from the
infrastructure of Westonia, an established town with a long mining history. The
project is just three hours or 300km by road from Perth;
half way between Perth and Kalgoorlie
and ideally situated to be serviced by both centres.
Notably,
there have been three previous successful mining programs which have occurred
both above and below the planned open pit at Edna May, which significantly
reduces the risk of Catalpa's current project.
Catalpa has
an experienced and innovative Board and management team that is committed
to realising a timely production and cash flow profile from the development of
the Edna May open pit resources.
This is the
company's immediate strategy; and an update to the Company's 2006 Edna May Gold
Project Feasibility Study is on schedule to be tabled to the Board in the
December quarter 2008. In preparation for planned production at Edna May,
the Company relocated its 2.8mtpa Big Bell mill to site in 2007. The mill
is being maintained 'ready for construction' adjacent to the proposed plant
construction site.
Catalpa is
pursuing parallel growth with a renewed exploration programme underway of its
880km? of under-explored Westonia Greenstone Belt, and
is reviewing other regional opportunities for acquisition and/or joint venture.
In particular, Catalpa seeks to identify and develop new projects and/or
acquisitions on its extensive land holding or within the region, which is
prospective for gold, nickel and base metals.
Catalpa has
a sound Resource base at Edna May with significant upside to grow resources and
reserves and move towards production. With a buoyant outlook on the gold price,
the Company's Board believes that Catalpa Resources presents a sound investment
opportunity with significant upside potential.
Catalpa
Resources has adopted best practice standards across all its operating
activities, including its social, health and safety, environmental management
and corporate governance functions.
Issued by
Purple Communications
Level 3, 28
Kings Park Road, WEST PERTH
WA 6005
Ph: 08 9485 1254 Fax: 08 6263 0455
purple@purplecom.com.au