ASX ANNOUNCEMENT High grade gold intersections from on-going drilling at Snake Well: 3 metres @ 42 g/t gold within 11 metres @ 15 g/t gold The Directors of Giralia Resources NL are pleased to report high grade gold intersections among early assay results from on-going drilling at the Company's 100% owned Snake Well gold project. A 140 hole, 2 rig drilling program is nearing completion, with RC and aircore drilling testing new resource targets at the Warren and Constrictor prospects and earlier stage regional geochemical targets at Firemans and Mixy North East. Additionally, infill resource drilling of the Mixy lode and the nearby Lop and Buckshot laterites is in progress, designed to allow upgrade to Indicated Resource category preparatory to pit design and pre-feasibility studies. Assay results have been received for only 5 RC holes to date, and include significant intersections as shown below: Snake Well Gold Project – Drill Intersections ≥ 1 grams per tonne gold ("g/t Au") Hole No Prospect Grid East Grid North Incl/Az Depth (m) From (m) To (m) Intersection RCRW206 Mixy 9710 9670 -60º/360 40 22 incl 22 33 25 11m @ 14.99 g/t Au 3m @ 42 g/t Au RCRW207 Mixy 9710 9650 -60º/360 78 67 incl 67 77 68 10m @ 5.85 g/t Au 1m @ 52 g/t Au RCRW208 Mixy 9660 9685 -60º/360 60 38 40 2m @ 4.4 g/t Au The early results from Mixy confirm continuity of shallow high grade gold mineralisation, and highlight potential for a highly profitable open pittable deposit at Mixy. Following receipt of all assays, detailed resource assessment and engineering and metallurgical studies are planned, to establish parameters for a low capital cost start-up mining operation at Snake Well, focussed on heap leach treatment of laterite mineralisation, and gravity or toll treatment of the high grade Mixy deposit. Preliminary testwork has returned an average of 81.4% gravity recoverable gold in oxidised Mixy composites. Drilling of new resource targets and regional exploration of Giralia's large under-explored land package at Snake Well will continue to expand project gold resources. R M Joyce 15 June 2005 Director Perth, WA The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by R M Joyce, who is a Member of the Australasian Institute of Mining and Metallurgy. R M Joyce 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'. R M Joyce consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. PO Box 1665, West Perth WA 6872 �� Level 2, 33 Ord Street, West Perth WA 6005 Tel: (08) 9481 4440 �� Fax: (08) 9321 0070 �� Email: [email protected] �� Web: www.giralia.com.au
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