BELLAMEL MINING LIMITED – 1.7 MILLION OUNCE RESOURCE...

BELLAMEL MINING LIMITED – 1.7 MILLION OUNCE RESOURCE AT
KALGOORLIE WEST GOLD PROJECT
1.7 MILLION OUNCE
RESOURCE AT KALGOORLIE
WEST GOLD PROJECT
Bellamel Mining Limited is very pleased to announce that the
JORC resource at its Kalgoorlie West Gold Project has been
increased by 140% to approximately 1.7 million ounces of gold.
The updated resource estimate brings the total resource for the
Kalgoorlie West Project to 44 million tonnes at 1.19g/t gold for
1.68 million ounces of contained gold. The resource is classified
as follows and includes approximately one million ounces in the
Measured and Indicated categories:
Class Tonnes Grade (g/t) Ounces Au
Measured 9,137,000 1.20 331,375
Indicated 12,541,000 1.41 567,040
Inferred 22,300,000 1.10 784,265
Total 43,979,000 1.19 1,682,380
New resources have been calculated for the Centurion, Fort
William, Fort Scott and Navajo Chief Deposits as tabulated below.
Deposit Tonnes Grade (g/t) Ounces Au
Centurion 6,235,000 1.17 234,290
Fort William 5,148,000 1.84 303,960
Fort Scott 130,000 2.02 8,450
Navajo Chief* 29,073,000 1.01 945,480
*The Navajo Chief Deposit includes the 5 smaller deposits previously reported as
Navajo North, South & West and Beaver & Beaver East Deposits
The complete resource table is attached to this announcement. The
Company is confident that these resources will be further increased
by the current drilling during 2008.
The Company has also commenced a scoping study to assess the
viability of mining these resources. A mining engineer has been
contracted and initial metallurgical test work is planned.
New JORC resources are being calculated for an additional seven
deposits previously delineated within the Kalgoorlie West Project
and will be announced over the next six months.
BELLAMEL MINING LIMITED – 1.7 MILLION OUNCE RESOURCE AT
KALGOORLIE WEST GOLD PROJECT
The Company is rapidly advancing exploration efforts at the
Kalgoorlie West Gold Project with the aim of further
increasing the current resource base. The Company currently
has two drilling rigs on site and exploration programmes will
continue throughout 2008. The Company anticipates further
strong news flow off the back of the current drilling and
resource modeling program.
Matthew Wood
Chairman
BELLAMEL MINING LIMITED
The information in this report that relates to Mineral Resources is based on information compiled by Mr Matthew Wood
and/or Mr Peter Ball who are Members of the Australian Institute of Mining and Metallurgy. Mr Wood is the Chairman
of Bellamel Mining Limited. Mr Ball is the Manager of DataGeo. Mr Wood and Mr Ball have 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 ‘Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves’. Mr Wood consents to the inclusion in the report of the
matters based on his information in the form and context in which it appears. Mr Ball consents to the inclusion in the
report of the matters based on his information in the form and context in which it appears.
The information in this report that relates to Mineralisation and Exploration Results is based on information compiled
by Mr Bill Oliver who is a Member of the Australian Institute of Mining and Metallurgy and the Australian Institute of
Geoscientists. Mr Oliver is the Exploration Manager of Bellamel Mining Limited. Mr Oliver 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 ‘Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves’. Mr Oliver consents to the inclusion in the report of the
matters based on his information in the form and context in which it appears.
BELLAMEL MINING LIMITED – 1.7 MILLION OUNCE RESOURCE AT
KALGOORLIE WEST GOLD PROJECT
Figure 1. Image showing the outline of the Navajo Chief deposit at surface and
previously mined pits at the Kalgoorlie West Gold Project
NAVAJO NORTH
NAVAJO WEST
NAVAJO SOUTH
BEAVER
CENTURION
NAVAJO CHIEF
DEPOSIT
Tonnes
Grade
(g/t)
Contained
Ounces Tonnes
Grade
(g/t)
Contained
Ounces Tonnes
Grade
(g/t)
Contained
Ounces Tonnes
Grade
(g/t)
Contained
Ounces
Apache Historical 562,000 1.7 30,600 64,000 1.5 3,000 627,000 1.7 33,600
Ben Hur Panel 1 Historical 143,000 1.5 6,900 472,000 1.5 22,000 615,000 1.5 28,900
Ben Hur Panel 2 Historical 100,000 1.7 5,400 732,000 1.8 43,300 832,000 1.8 48,700
Ben Hur Panel 3 Historical 523,000 2.0 33,000 269,000 1.7 14,700 792,000 1.9 47,700
Centurion Bellamel 1,854,000 1.20 71,395 3,134,000 1.17 118,375 1,247,000 1.11 44,520 6,235,000 1.17 234,290
Fort William Bellamel 3,467,000 1.91 213,035 1,681,000 1.68 90,925 5,148,000 1.84 303,960
MINERAL RESOURCES AT THE KALGOORLIE WEST GOLD PROJECT
Deposit Source
Measured Indicated Inferred Total
Fort Scott Bellamel 130,000 2.02 8,450 130,000 2.02 8,450
Navajo Chief* Bellamel 7,183,000 1.10 254,280 4,495,000 1.04 150,330 17,395,000 0.97 540,870 29,073,000 1.01 945,480
Pitman South Historical 86,000 2.3 6,400 18,000 1.5 900 104,000 2.2 7,300
Walsh Historical 220,000 1.7 11,900 220,000 1.7 11,900
Walsh North Historical 131,000 2.0 8,400 72,000 1.6 3,700 203,000 1.8 12,100
9,137,000 1.13 331,075 12,541,000 1.41 567,040 22,300,000 1.10 784,265 43,979,000 1.19 1,682,380
* The Navajo Chief Deposit includes the 5 smaller deposits historically reported as Navajo North, South, West and Beaver / Beaver East
Historical models utilised polygonal sectional estimation methods and were reported at a 1g/t cut-off
The recent Bellamel modelling has been carried out on broad zones representing supergene and primary mineralisation defined by geology and Au grade.
The mineralised zones have been solid modelled and the drill holes composited to 1m down hole against these solids.
Block models were created from these zones with parent cell dimensions varying between 10 to 20mN (along strike) x 5 to 20mE (across strike) x 2 to 5mRL (down dip)
Au grade was estimated into block models using Multiple Indicator or Ordinary Kriging depending on data density and grade continuity conditions.
Tonnes were assigned using default specific gravities dependent on weathering conditions, this varied between 1.85t/m3 (completely oxidised) to 2.7t/m3 (completely fresh)
The mineral resource is classified according to geological continuity, grade continuity, a measure of drill spacing based on kriging error and comparison to mining history.
The resource is reported at a 0.6g/t cutoff below the recorded extents of old open cut workings.