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Additional Information

Market:	ASX FRA
Sector:	General Mining
EPIC:	GIP
Latest Price:	0.02 (4.55% )
52-week High:	0.05
52-week Low:	0.01
Market Cap:	18.69M

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Gippsland Limited

Gippsland focuses on world-scale projects which have been over-looked by major resource groups. Projects which have undergone detailed exploration and which have the potential to be brought into production quickly are a prime target for the Company. Gippsland's success in this area is due in part to the Company's philosophy of entering into equitable joint venture arrangements with overseas nationals. The Company's prime assets are the 40 million tonne Abu Dabbab and the 98 million tonne Nuweibi tantalum-tin projects located in the Central Eastern Desert of Egypt, adjacent to the western shore of the Red Sea.

Gippsland encouraged by early copper mineralisation found at Adobha

Thursday, June 17, 2010

Gippsland (ASX: GIP) has reported visible copper in the form of malachite (copper carbonate) collected during exploration completed in May 2010 at its Adobha Project in Eritrea, located in the Horn of Africa.

The exploration work included the collection of additional drainage samples, geological mapping and rock-chip sampling.

It was following up very encouraging results obtained from a reconnaissance drainage geochemical survey of Thematic Mapper (TM) anomalies, completed during November 2009, which yielded anomalous gold and base metal values from three target areas (E14, E21 & E26).

The company said presence of widespread copper mineralisation combined with some high lead values in bedrock samples "significantly upgrades the prospectivity of Gippsland's Adobha tenements."

Jack Telford, chief executive officer, said "these very encouraging results, which are consistent with our expectations, greatly increase the potential for the Adobha tenements to yield a significant VMS style deposit."

"It is particularly encouraging that the company has discovered large areas of copper mineralisation so early in the overall exploration programme."

At TM anomaly E26 widespread copper mineralisation in bedrock with values up to 10.63% Cu was received with a large area of discontinuous copper mineralisation (390m x 520m). Mineralisation is open to the east and north and copper bearing samples analysed up to 1.15g/t Au.

TM Anomaly E21 (404800E/1905000N) had copper mineralisation identified over 1.7km strike length and there were High lead values (up to 0.97%) that indicate favourable lithology for VMS deposits.

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