Dioro Exploration NL

Published : April 02nd, 2008

Frog's Leg Resource Continues To Grow, Last Year by 95%, This Year By 37%

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Keywords :   Australia | Gold | Gold Production | K Street | Market |

 

  DIORO NL: ASX RELEASE

 


2 April 2008
ASX/TSX Ticker: DIO

FROG’S LEG RESOURCE CONTINUES TO GROW, LAST YEAR BY 95%, THIS YEAR BY 37%

HIGHLIGHTS:

  • Dioro confirms measured and indicated resource increases by 37% to 990,000 ounces of gold.
  • Confirmation of continuous mineralization between the Rocket and Mist ore bodies.
  • Cartage of Frog’s Leg ore to Dioro’s 100% owned Jubilee mill has commenced with gold production on track for June 2008.

Dioro Exploration NL (“Dioro” or the “Company”) with joint venture managing partner La Mancha Resources Australia Pty Ltd (“La Mancha”), are [pleased to announce that the Measured and Indicated (“M&I”) resource has increased by more than 37 per cent at the Frog’s Leg gold project located near Kalgoorlie in Western Australia.

After incorporating recent excellent drilling results the Frog’s Leg measured and indicated resource now stands at 990,000 ounces of gold ( 485,100 oz attributable to Dioro), compared to 723,000 ounces of gold (354,270 oz attributable to Dioro) released to the market in July 2007. The updated resource does not include the inferred resources of 176,000 ounces.

The following table demonstrates the new Frog’s leg resource estimate on a 100% basis.



This increase can essentially be attributed to two factors:
(a) the conversion of inferred resource to the M&I category due to the infill drilling that has taken place since May 2007; and
(b) the completion of detailed extensional drilling between Mist/Fog lodes and Rocket/Whistle lodes bridging the ‘Gap’.

This M&I resource primarily reflects the success of the continued drilling of the Frog’s Leg deposits since May, with the conversion of the large Inferred areas of the Fog and Mist ore bodies to the Indicated status. The drilling program comprised 24 holes designed to give optimum coverage within previously sparsely drilled areas at the northern end of the Fog and Mist ore bodies.

This updated resource calculation incorporates the results of all new holes completed between May 2007 and January 2008 that had not been included in the June 2007 calculation. Reported resource figures have been calculated using a Au cut off grade of 3.5g/t, consistent with the resource estimates reported from the previous resource update of June 2007.

To download the full release, click here.

For all media inquiries contact:

John Williams
Pofessional Public Relations
Phone: 0412 422 636


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Data and Statistics for these countries : Australia | All
Gold and Silver Prices for these countries : Australia | All

Dioro Exploration NL

PRODUCER
CODE : DIO.AX
ISIN : AU000000DIO1
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Dioro is a gold producing company based in Australia.

Dioro holds various exploration projects in Australia.

Its main assets in production are MUNGARI EAST, FROG'S LAKE and SOUTH KAL in Australia and its main exploration properties are POKAI and LAKE GRETA in Australia.

Dioro is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is AU$ 86.2 millions as of today (US$ 79.0 millions, € 57.7 millions).

Its stock quote reached its lowest recent point on January 14, 2000 at AU$ 0.04, and its highest recent level on October 12, 2007 at AU$ 37.24.

Dioro has 67 905 410 shares outstanding.

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Corporate Presentations of Dioro Exploration NL
9/4/2008Fat Prophets Report
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4/23/2008(Frog's Lake)Wide high grade intersection 150m below Rocket Lode at Frog’...
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2/1/2008(Frog's Lake)CONFIRMS SIGNIFICANT CONTINUATION OF GOLD MINERALISATION AT ...
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8/12/2009Seventh Supplementary Target Statement
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8/26/2008Secures A$14M financing facility with BNP Paribas
8/12/2008Fat Prophets report August 2008
7/31/2007Exploration ASX Release
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