Brisbane, Nov 26, 2007 AEST (ABN Newswire) - Bondi Mining Ltd ("Bondi Mining")(ASX: BOM) is pleased to provide an update on its recent exploration and corporate activities.
The acquisition of the uranium portfolio of Buffalo Gold Ltd (TSX-V:BUF.U) is now complete, and the agreed issue of shares and options to Buffalo Gold and its nominees is proceeding in accordance with regulatory requirements.
Murphy Project, Northern Territory
In the Murphy project, where Bondi is exploring 12 targets with strong prospectivity for high grade unconformity uranium mineralisation, the detailed 100 metre-spaced airborne magnetic and radiometric survey is now complete, and data products are now awaited from Fugro. Radon track etch and scintillometer surveys have now been carried out over seven target areas, and scintillometer surveying has confirmed the presence of subtle radiometric anomalies persisting through thin sand cover over the target areas. Field work is continuing in the project area. Partial track etch results are expected in early December. Access clearances have now been completed by the Aboriginal Areas Protection Authority, and a drill program is planned in early 2008 dependent on the progress of the wet season.
Mount Hogan Project, North Queensland
At the Mount Hogan project in North Queensland, where step-out drilling is planned near an existing high grade uranium drill intersection (7 metres at 0.38% U3O8), the detailed 100 metre-spaced airborne magnetic and radiometric survey is now complete, and data products are now awaited from Fugro. Drill clearances are scheduled to be carried out in early December, and a drill company has been contracted to carry out a 1000 metre drill program commencing in mid-December.
North Maureen Project, North Queensland
At the North Maureen project in North Queensland, where a scout drill program is planned to test a number of targets with very similar characteristics to the Maureen deposit (6m lb U3O8 at 0.12% U3O8), the detailed 100 metre-spaced airborne magnetic and radiometric survey is now complete, and data products are now awaited from Fugro. Drill clearances are scheduled to be carried out in early December, and a drill company has been contracted to carry out a 4000 metre drill program to commence in late December or early January upon completion of the drilling at Mount Hogan.
Juntala Project, North Queensland
The company has recently received notice that the Juntala EPM 15202 may now proceed to grant, subject to payment of the conventional financial assurance and acceptance of normal terms and conditions. Field work will commence on the Juntala tenement, where a number of targets and target zones for basement and paleochannel uranium mineralisation have already been proposed.
Drilling to begin on Bondi Uranium Projects
"Our exploration team has worked very hard to complete the permitting and clearances required to allow us to begin our uranium drill programs," said Dr Rick Valenta, Managing Director of Bondi Mining Ltd. "We are now in a good position to meet our stated objective of drill-testing two of our uranium projects in 2007, and we have the people and contracts in place to continue an ambitious work program into early 2008".
Dunmore and Tomingley Projects, New South Wales
All assays have now been received for the Dunmore and Tomingley projects in the Parkes region of New South Wales, where a number of targets were being tested for Cadia/Ridgeway/Lake Cowal/North Parkes-style gold-copper mineralisation based on new targets identified in detailed magnetics flown earlier in 2007. A number of encouraging results have been returned from both the Dunmore and Tomingley programs, including halo-style intersections on new targets which have never before been drilled.
At Tomingley, a widely-spaced grid was drilled designed to test a target zone defined by a major northwest-trending break in the regional government gravity and magnetic datasets, similar to the orogen-oblique features which host all of the major deposits in the region, including North Parkes, Cadia/Ridgeway, Lake Cowal and Marsden. The drilling returned best-in-hole results of 446 ppm Cu from a 4 metre composite in hole TOL25, and 0.36 g/T Au from a 4 metre composite in hole TOL17.
At Dunmore, aircore drilling at target D02, a newly identified magnetic target, returned best results of 4m at 1230 ppm Cu and 0.22 g/T Au from the top of the hole in D02-03. At target D08, a circular magnetic high with flanking low, a maximum value of 475 ppm Cu was interesected from a 4 metre composite in hole D08-01 at a depth of 64 metres. A number of significant intersections were returned from drilling designed to test extensions of the Tre prospect, a 2000m by 750m zone of gold mineralization and quartz-sericite alteration. The best previous results from this zone include 5 metres at 5 grams per tonne gold in drillhole RP4 and 1 metre at 12.9 grams per tonne gold in drillhole RP10. New drill results from this area include up to 611 ppm Cu from a 4 metre composite in hole TR029 at a depth of 32 metres, and up to1m at 0.81 g/T Au from hole TR034 at a depth of 43 metres.
Contact
Rick Valenta
Managing Director
TEL: +61-7-3369-4000
FAX: +61-7-3369-4900
MOB: +61-448-110-765
EMAIL: rvalenta@bondimining.com.au
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