From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Mon Oct 05 2009 - 05:07:40 EDT
Proactive Investors
Monday, October 05, 2009
Gippsland secures three prospecting licenses in Eritrea, plans sampling
programme this year
Tantalum project developer Gippsland Limited (ASX: GIP, DB: GIX) has
secured three prospecting licenses in Eritrea covering 300 kilomtetres
of ground in an area which it said had the potential to host high grade
gold and metal deposits similar to recent discoveries in the south.
The areas in the Adobha region covered by the three prospecting licenses
granted to Gippsland's wholly owned subsidiary Nubian Resources are said
to have similar geological settlings to the Bisha gold-base metal
deposit with a resource of 1.44 million ounces (Moz) of gold and 0.39
million tonnes (Mt) of copper and structural settings similar to that of
the 0.94 Moz Zara gold project, located just 65 kilometres to the south.
An initial sampling programme is slated for October-November this year
wand will focus on eleven target anomalies identified during the
interpretation study. The samples will be analysed for copper, lead,
zinc and gold.
Gippsland noted that the north-western part of Eritrea covered the
Precambrian Nubian-Arabian Shield, which included the 9.91 Moz Sukari
gold deposit and Gippsland's 138 Mt Abu Dabbab-Nuweibi tantalum-tin
deposits, as well as the aforementioned Bisha and Zara deposits.
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.
http://www.proactiveinvestors.com.au/companies/news/2754/gippsland-secur
es-three-prospecting-licenses-in-eritrea-plans-sampling-programme-this-y
ear-2754.html
----[This List to be used for Eritrea Related News Only]----