ASX RELEASE | 13 November 2012 | ASX:PIRFURTHER THICK HIGH GRADE...

ASX RELEASE | 13 November 2012 | ASX:PIR
FURTHER THICK HIGH GRADE INTERSECTIONS AT FEKOLA
Results from drilling at the Fekola Project continue to confirm continuity of gold mineralisation, both
in terms of thickness and grade;
Thick zones of high grade mineralisation intersected including 86 metres @ 7.56 g/t, 66 metres @
4.90 g/t and 30 metres @ 5.65 g/t gold;
Positive indications of gold mineralisation from shallow, step out RC drilling to the north of Fekola
resource area, including 17 metres @ 3.26 g/t from a depth of 7 metres down hole; and
Future extension and exploration drilling aimed at aggressively growing the Fekola resource base
and testing priority targets along the Fekola Corridor, is scheduled to commence in mid-November.
Papillon Resources Limited (‘Papillon’ or ‘the Company’) is pleased to announce the results from the
next batch of assays received from the 2011/2012 drilling program at the Company’s flagship Fekola
Project (‘Fekola’ or ‘the Project’), located in south western Mali.
The Project currently hosts a Mineral Resource Estimate (‘MRE’) which comprises 40.1 million tonnes
averaging 2.4 g/t gold for a contained 3.14 million ounces of gold at a lower cut-off grade of 1.0 g/t gold.
The results of an additional 21 diamond drill holes (reported herein), for a total of approximately 6,950
metres, have further demonstrated the continuity of gold mineralisation, in terms of thickness and grade,
between the previous broader spaced holes within the resource area. Thick zones of high grade
mineralisation have been recorded in this drilling from near surface to a maximum vertical depth of
approximately 220 metres. Better intercepts observed in the latest batch of drill results include:
Hole No. Down Hole Intercept From Depth
(Down Hole)
FKRD 032 86m @ 7.56 g/t 195m
FKD 074 66m @ 4.90 g/t 148m
FKD 059 30m @ 5.65 g/t 164m
FKD 054 21m @ 3.63 g/t 103m
FKRD 039 15m @ 4.53 g/t
12m @ 3.37 g/t
23m
53m
FKD 078 12m @ 4.31 g/t 70m
FKD 067 16m @ 3.23 g/t 179m
FKD 091 14m @ 3.17 g/t 19m