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.
Competent Persons Statement
The
information in this report that relates to exploration, mineral resources or
ore reserves is based on information compiled by Mr Anthony Martin (B.Sc.Hons.)
who is an employee of Nimrodel Resources Limited and is a member of the
AusIMM. Mr Martin 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 described
by the 2004 Edition of the ??Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves??. Mr Martin consents to the
inclusion in this report of the matters based on his information in the form
and context in which it appears.
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.