huge gold hits 30m at 38gt 10m 76gt

Wednesday 28th November, 2007
ASX Announcement
Drilling at Koka confirms high grade gold intercepts
Assay results from Sub-Sahara Resources (ASX: SBS) Koka prospect, part of the Zara
Gold Project in Eritrea, Africa, have returned further multiple, significant high grade gold
intercepts. Infill diamond drilling (ZARD072-ZARD084) at the Koka discovery has been
completed on a 40metre x 20 metre basis and a revised resource estimate is underway
including ZARD084 which is in preparation.
Drilling Highlights:
Hole From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
ZARD073 105 108 3 49.05
ZARD075 31 61 30 38.01
ZARD075 69 86 17 13.79
ZARD081 37 47 10 76.82
ZARD081 65 69 4 28.71
ZARD083 38 44 6 69.50
ZARD084 96 102 6 17.46
Commenting on these results, Sub Sahara Managing Director Michael Griffiths said,
“These latest drilling results from the infill diamond drilling have continued to add
significant gold to the Koka deposit. Our drilling is returning consistently high grade gold
values over good widths giving us greater confidence in our resource.�
“The revised resource estimate remains on track and scheduled for completion by the
end of this year.�
The mineralisation at Koka Prospect has been defined on a 20 metre x 40 metre basis
over 640 metres of strike and continues to remain open both along strike and at depth.
Drill holes ZARD072-84 were infill drill holes from within the 40 metre x 20 metre grid
and were collared in the footwall rocks (Table 1).
2
Table 1: Significant Koka Prospect Diamond Drill Assay Intercepts:
Hole Depth
(m)
North
(UTM)
East
(UTM)
Azimuth
(°)
Dip
(°)
From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
ZARD072 125.10 1,824,509 390,259 102 -50 9 11 2 7.00
24 25 1 10.29
ZARD073 154.00 1,824,431 390,241 102 -55 26 28 2 3.98
31 33 2 3.75
52 59 7 5.09
62 65 3 16.30
73 86 13 2.86
105 108 3 49.05
ZARD074 151.90 1,824,522 390,201 102 -55 124 125 1 3.84
ZARD075 101.10 1,824,147 390,222 102 -53 31 61 30 38.01
69 86 17 13.79
ZARD076 72.75 1,824,514 390,239 102 -52 50 56 6 8.83
61 63 2 28.36
ZARD078 103.40 1,824,558 390,227 102 -50 60 62 2 5.39
73 75 2 3.13
ZARD079 90.60 1,824,072 390,205 102 -50 44.9 55 9.1 5.35
60 61 1 10.98
66 72 6 4.02
75 76 1 78.19
ZARD080 152.65 1,824,198 390,189 102 -51 106 109 3 18.21
135 136 1 9.18
148 149 1 3.11
ZARD081 96.90 1,824,110 390,217 102 -50 37 47 10 76.82
52 61 9 3.86
65 69 4 28.71
80 84 4 7.06
ZARD082 80.00 1,824,553 390,247 102 -50 21 23 2 3.55
ZARD083 115.00 1,824,190 390,226 102 -52 24 30 6 4.40
38 44 6 69.5
48 49 1 76.82
55 60 5 3.36
71 75 4 11.03
ZARD084 155.25 1,824,160 390,181 102 -52 96 102 6 17.46
107 110 3 5.55
140 144 4 15.32
Note: The metres quoted are down hole metres and gold grades are uncut with up to 2 metres of internal
dilution (<0.25g/t gold). All samples are prepared at the Africa Horn Laboratory in Asmara, Eritrea and
then analysed by Genalysis Laboratories in Perth, Western Australia.
3
For and on behalf of
Sub-Sahara Resources NL
Web site: www.subsahara.com.au
M.R. Griffiths
Managing Director
About the Zara Gold Project
The Zara Joint Venture comprises a single license covering an area of 196km2 situated
in northern Eritrea, approximately 160km northwest of Asmara city (Figure 1). Sub-
Sahara has earned a 69% interest in the project. The Koka Gold deposit within the
project contains an inferred resource of 760,000 ozs gold from 7million tonnes of ore,
grading 3.4g/t gold, and current drilling continues to expand and enhance this resource.
Initial metallurgical test work indicates +95% recovery after 24 hours gravity/cyanidation.
On application for a mining license, the Eritrean Government is entitled to a 10% free
carried interest. Furthermore, the Government has the right, by agreement, to a 30%
equity participation interest in any mining project and up to a 5% royalty on mined
precious metals.
About Sub-Sahara
Sub-Sahara Resources is an ASX listed company (ASX: SBS) with interests in a
number of highly prospective and rapidly expanding African projects, including the
Nyanzaga joint venture with Barrick Gold, Lake Victoria joint venture with Currie Rose
Resources and the Nyakufuru joint venture with Resolute Mining (all in Tanzania) and
the Zara joint venture in Eritrea. The Company holds 7.6million shares in Sunridge Gold
Corp (TSX-V: SGC) and an equity interest in Currie Rose Resources Inc (TSX-V: CUI).
FOR FURTHER INFORMATION:
Michael Griffiths, Managing Director
Sub-Sahara Resources NL
[email protected]
Ph: +61 8 9227 3260
James Moses
Professional Public Relations (WA)
[email protected]
Ph: 0430 038 338
Competent person statement
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is
based on information compiled by Mr M R Griffiths, who is a Member of The Australasian Institute of
Mining and Metallurgy. Mr Griffiths is a full-time employee of Sub-Sahara Resources NL. Mr Griffiths 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 defined in
the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves’. Mr Griffiths consents to the inclusion in the report of the matters based on his information
in the form and context in which it appears.
4
Figure 1 – Koka Drill Hole Location Plan