D'Aguilar's Gold Asset Exposure Strengthens

The past quarter has seen D'Aguilar's gold asset exposure strengthen with important developments being made at the Rannes project in Queensland, exploration projects in Nevada, USA and a growing portfolio of exciting assets in Burkina Faso, West Africa.

Rannes, Queensland

D'Aguilar's Managing Director, Nick Mather, says he is excited by the emergence of a significant resource at Rannes, where a 676,000 oz gold resource equivalent has been discovered so far. He believes it is important to note the resource has been defined on only two of 22 prospects. These prospects now define a completely new 30km long province on the eastern edge of Queensland's prolific coal basin; the Bowen basin.  

A two million ounce gold equivalent resource is targeted in and around Rannes. 

Mr Mather says the geological models that have been employed in the Rannes discovery partly mirror those used to define some of the largest and richest gold provinces in the world in Nevada, USA. 

Nevada, USA

D'Aguilar also has indirect listed interests in a comprehensive portfolio of gold projects in and around the rich Carlin and Cortez trends in Nevada. Drilling has just commenced at the Stevens Basin project. Highly anomalous gold mineralisation was intersected during exploration by Navaho Gold in June. 

Immediately south of Stevens Basin there is another project D'Aguilar has indirect interests in, the Rose Mine. A drilling program has recently been completed there. Ten holes for a total of 1,512m of reverse circulation drilling was completed at Rose Mine.  Samples have been submitted for assay and results are awaited.

The unique geology and rich gold endowment of this region in Nevada gives D'Aguilar confidence that significant discoveries will be made there.

Mr Mather, Chairman of operator Navaho Gold said that "there were two rigs active on the Nevada portfolio and that five projects would be drilled before mid-November." Two of these are on the 40m oz Cortez Pipeline trend where Barrick made a recent 3.5m oz discovery

Burkina Faso, West Africa

D'Aguilar's listed gold upside is rounded out by indirect interests in a comprehensive portfolio in  Burkina Faso, West Africa. High grade intersections have recently been made on Mt Isa Metals' Bantou and Nabanga prospects and extensive new anomalies have been defined at Kamsongo and Bongou. D'Aguilar holds a 35% interest in Mt Isa Metals.

Mr Mather sees the project area as extensive and fascinating and draws comparison to the western Australian eastern goldfields 150 years ago.

'Following local surface gold miners with the contemporary advantage of detailed magnetic surveys as a mapping tool is leading to the definition of a new province."

"The entire equatorial west African gold province is well endowed and there is no reason that Burkina Faso couldn't be as rich as Ghana," says Mr Mather.

"I'd expect resources to follow on these projects in Burkina Faso in the near future. Clearly resource definition will substantially upgrade the value of D'Aguilar's holdings."

D'Aguilar also has a focus on the same age rocks in New South Wales which have led to Queensland's fabulous gold deposits at Charters Towers, Gympie, Kidston, Mt Morgan and Cracow. 

There's no reason why that prospectivity doesn't extend into New South Wales, claims Mr Mather. Extensive zones of historic workings north of Tamworth are evident and these have simply never been drilled.

D'Aguilar has indirect stakes in mine drilling programs across its portfolio of gold interests, and is optimistic that these programs will yield significant and near term results.

END

Carlie Rogers Jessica Sier

+61 7 3303 0680 +61 7 3303 0681

crogers@daguilar.com.au jsier@daguilar.com.au