BDI vom 25.01.06
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WOODLARK EXPLORATION DRILLING &
NEW INDONESIAN DIAMOND TENEMENT APPLICATION
Highlights:
Gold mineralisation intersected in exploration drill holes under old
colonial workings 1.5 kilometers north-east of the Kulumadau resource.
A tenement application lodged covering 29,000ha of potential diamond
bearing palaeochannel gravels 3km north of the Company’s Cempaka diamond mine.
LONDON – 26 January 2006 – BDI Mining Corp. (AIM-BMG) reports that
initial drilling at the Great Northern prospect on Woodlark Island, Papua
New Guinea, has intersected gold mineralisation.
Diamond drill hole BKD27 was drilled under old colonial workings at the
Great Northern prospect, 1.5km north-east from the Kulumadau
resource, and returned an intersection grading 6 metres @ 4.34g/t Au
from 41 meters to 47 metres downhole.
The mineralisation at Great Northern is part of the Kulumadau Trend,
and lies on the northern-most periphery of a large induced polarisation
resistivity anomaly. This anomaly is interpreted to represent an
extensive, hydrothermally-altered intrusive breccia or diatreme around
which, it is theorised, gold mineralisation may lie. The drilling program
for 2006 will incorporate drilling designed to test this theory.
Reconnaissance reverse circulation (RC) drill holes within a 200 metre
radius of BKD27 also returned gold mineralisation. BKR17 returned 1
metre @ 23.73g/t Au from 128 metres to 129 metres downhole, and 3
metres @ 2.13g/t Au from 139 metres to 142 metres downhole. BKR11
returned 7 metres @ 1.23g/t Au from 141 metres to 148 metres, BKR6
returned 4 metres @ 2.36g/t Au from 39 metres to 43 metres downhole,
and BKR10 returned 4 metres @ 1.41g/t Au from 73 metres to 77 metres
downhole. Management considers these results to be sufficiently
encouraging to warrant further follow-up drilling, with the aim of testing
the potential of the Great Northern area to add additional ounces to the
Company’s Woodlark Island resource base.
BDI Mining also announces the lodging of an exploration application
covering 29,000ha in the Martapura region of SE Kalimantan, Indonesia,
3km north of BDI Mining’s operating Cempaka diamond mine. The
tenement covers an interpreted diamondiferous palaeochannel, similar
in both geological setting and dimensions, to the Cempaka
Palaeochannel immediately to the south. This prospect is believed to
consist of alluvium derived from the same hard rock source that
contributed to the Cempaka diamond deposit which BDI Mining is now
successfully mining.
In accordance with Indonesian regulations, BDI Mining Corp will hold a
90% interest in the area, with 10% held by local company PT
Indomineratama. Both companies are also joint venture partners on the
on the potential source of the alluvial diamond deposits, the Bobaris Block project.