west musgrave potential highlighted (bdr) ann, page-3

This was the ann, copied from MiningNews. I still do not understand why STZ have not said anything about the tenements right next to Beadell?? Come on try to create some shareholder value!!

BEADELL Resources says results from the first-pass reverse circulation drilling program at the Handpump prospect have validated the existence of a completely new gold mineralised system in the West Musgrave province.

Among the results are 15m at 2.3 grams per tonne gold from 31m, including 5m at 4.7gpt gold from 34m, 7m at 1.4gpt from 3m and 11m at 1.1gpt from 24m.

Gold mineralisation at the Handpump prospect is associated with a magmatic hydrothermal breccia hosted in rhyolite.

The mineralisation remains completely open to the northwest of the initial discovery drillhole. A follow-up RC drilling program is planned to test both the northwest extension of the mineralisation under cover and the downdip projection of the mineralisation.

Beadell managing director Peter Bowler said the results confirmed the significance of the new discovery in the Musgrave region.

He said the Handpump prospect had only been partially tested over a strike length of 300m, with multiple zones of gold mineralisation suggesting a larger and as yet undefined mineralised system.

The Handpump discovery represents the first definitive gold mineralisation intersected in the entire sparsely explored central Australian Musgrave block and potentially represents the emergence of a new and exciting gold district in Australia, Bowler said.

"We remain extremely encouraged with this district and the eagerly anticipated follow-up RC program will commence shortly.

The RC drilling program is scheduled to start this month.

The project area is 75km east of Warburton. The Musgrave complex is part of a belt of Mesoproterozoic rocks stretching in an east-west direction across South Australia and into Western Australia.

Shares in Beadell gained A7c to hit an early morning high of 39.5c, before cooling to 35.5c.