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Siburan Resources turns up heat drilling Mt Pleasant near gold discoveries

Last updated: 11:48 15 Nov 2010 AEDT, First published: 10:48 15 Nov 2010 AEDT

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Perth-based Siburan Resources (ASX: SBU: Siburan) is embarking on a 5,000m RAB drilling programme at its Mt Pleasant gold project, located in a region with historical gold production of 6 million ounces and just 10km of the Paddington Mill.

The project comprises 15 prospecting licence covering approximately 18 km2.

What makes this program even more interesting is that the RAB drilling will test two new structural corridors defined by a recent gravity survey, along which there have been early stage gold prospects such as the Mt Pleasant Sill and Bent Tree Basalt, ripe for discovery of high grade gold deposits such as Quarters and Golden Kilometre.

The Mt Pleasant gold project has had 45,000m of drilling in the last 20 years of exploration. However, only 2% of the drilling is below 100m. Mt Pleasant contains a number of shallow high-grade drill intersections discovered by previous explorers in the 1990s, but the project has seen no systematic gold exploration since this time.

Based on the historical results to date, there would seem to exist strong potential of the discovery of a significant new gold deposit.

Managing director of Siburan Noel Ong said the drill programme will be testing new areas of the project which have had limited drilling to date.

He said this will provide the company with an opportunity to better understand the controls on gold mineralisation that exist in the project area.

“The RC/diamond drilling programme we completed in July, and the historical high grade intersections are most likely related to the structural corridors defined by the gravity survey. This 5,000m programme clearly shows that Siburan is a focussed exploration company intent on making the next new high grade discovery in the Kalgoorlie region,” said Mr Ong.

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