Drill Results
30 March 2011 - 5:00PM
UK Regulatory
TIDMHMB
Hambledon Mining plc
("Hambledon" or "Company")
Sekisovskoye Underground Project - Drilling Update
30 March 2011
Hambledon is currently undertaking a substantial underground
drill programme to validate and expand the geological resources at
Sekisovskoye.
Key results from the programme to date are as follows:
-- Eight drill holes completed
-- Over 1,700 metres drilled
-- Significant intersections include:
Hole D121 - 33m at 4.78 g/t Au
Hole D121 - 60.4m at 5.6 g/t Au
Hole D122 - 8m at 10.75 g/t Au
Hole D122 - 44m at 5.74 g/t Au
Hole D124 - 26.3m at 5.13 g/t Au
Hole D125 - 33m at 4.5g/t Au
As announced on 10 January 2011, Hambledon has committed to, and
commenced, an 18 month drill programme of approximately 25,000
metres to be completed at an average rate of 1,500 metre per month.
An extension of this drill programme will be undertaken once the
underground decline is constructed below the existing 320 metre
level, which sits some 85 metres below the base of the current open
pit.
To date, 8 drill holes have been completed and the results have
confirmed the geometry of the resource and validity of the current
resource model. Significantly, the drill holes have also expanded
the known dimensions and increased the volume of ore in zone 8, one
of the main zones, by over 22%. Further details of the drill hole
results are included in Appendix 1 below.
The analytical works were carried out in the Altai Ken-Bayitu
laboratory with independent assay verification to be undertaken by
the Alex Stewart Group in Karabalta, Kyrgyzstan.
The Sekisovskoye deposit is in the Rudny Altai metallogenic belt
and is one of seven gold fields in East Kazakhstan. The host rocks
are very coarse grained, altered, igneous breccia zones of variable
composition within granitoid intrusives. The breccias range up to
700 metres in width by 160 metres in breadth, with steep
northeasterly dips, and extend to drilled depths greater than 950
metres. The breccias are cut by mostly concordant dykes of various
compositions and a system of cross-cutting faults. Gold
mineralisation is restricted to the igneous breccias between barren
igneous dykes dipping northeast. The zones of mineralisation show
wide variation in thickness from 0.35 meters to 30 metres with an
average of 2.2 metres and localised pinch and swell structure, with
variable gold and silver content.
The drill results confirm the high grade mineralisation with
average in-situ grades between 5-6 g/t of gold, and 6-7 g/t of
silver. The mined grade post dilution is expected to average 4.2
g/t of gold.
The current geological model and JORC resource, which is
currently in excess of 2.0M ounces of Gold and 2.9M ounces of
Silver, is being updated and will be released in conjunction with
publication of the Company's annual report and accounts for the
financial year to December 2010 in Q2 2011. Further resource
updates will be announced with the drill results.
A revised underground mine design and infrastructure engineering
study is being undertaken by Golders Associates Limited which will
enable updated mine reserves to be issued in December 2011.
Appendix 1
Sekisovskoye 2011 - Drill result summary as of 19 March
2011:
HOLE COORDINATES DEPTH GOLD MINERALIZATION_ore intervals
X Y Z AZI DIP drilled core total FROM TO LENGTH AA-AKBLAB, AU,g/t
D109 7675.184 6860.351 323.6 227.5 -51.9 222.2 222.2 222.2
73.10 74.60 1.5 1.11
95.40 96.10 0.7 1.52
170.60 171.50 0.9 1.52
182.90 184.00 1.1 2.42
D111 7619.21 6759.07 322.8 229 -39 205.8 205.8 205.8
19.00 19.25 0.25 7.82
67.50 69.00 1.5 2.68
166.00 167.30 1.3 1.4
172.70 174.30 1.6 1.4
188.20 198.30 10.1 3.31
D113 7675.256 6860.447 324.2058 228.5 -25.9 195 195 195
137.25 137.40 0.15 13.92
142.50 144.00 1.5 1.42
159.00 160.40 1.4 1.55
166.50 168.00 1.5 1.03
D114 7675.263 6860.438 324.4852 228 -14 199.4 199.4 199.4
115.40 116.90 1.5 1.58
158.90 161.90 3.0 4.91
166.40 167.90 1.5 4.54
191.90 193.40 1.5 1.86
D121 7619.21 6759.071 323 226 -86 205.3 205.3 205.3 0.00 4.90 4.9 1.72
7.50 15.00 7.5 2.76
20.00 53.00 33 4.78
58.00 68.50 10.50 1.59
73.50 74.50 1 4.92
78.60 79.60 1 1.32
92.60 93.60 1 1.3
97.60 98.60 1 1.22
104.60 165.00 60.4 5.6
170.00 171.00 1 1.08
176.00 179.00 3 1.6
180.00 181.00 1 1.04
D122 7618.779 6758.649 322.8089 227 -71 176.3 176.3 176.3 0.00 4.00 4 2.9
8.00 16.00 8 10.75
21.00 39.00 18 1.91
47.00 48.00 1 1.12
51.00 54.00 4 3.1
59.00 103.00 44 5.74
111.00 122.00 11 1.94
126.00 127.00 1 1.52
128.00 129.00 1 1.2
135.00 136.00 1 13.52
139.00 146.00 7 2.16
157.00 158.00 1 1.7
D123 7618.392 6758.271 322.9357 227 -60 179 179 179 0.00 12.00 12 2.38
15.00 17.00 2 3.65
20.00 38.00 18 2.6
46.00 55.00 9 1.59
61.00 66.00 5 1.81
72.00 99.00 27 2.76
104.00 109.00 5 5.41
D124 7617.93 6757.8 322.96 227 -46 190.4 190.4 190.4 2.80 6.10 3.3 12.5
16.00 17.00 1 4.93
27.60 34.50 6.9 4.05
37.50 38.50 1 1.4
42.80 48.70 5.9 5.97
52.70 79.00 26.3 5.13
84.00 85.00 1 1
92.50 97.50 5 1.12
99.80 108.00 8.2 1.79
116.00 118.00 2 1.87
130.00 137.00 7 1.87
141.00 144.00 3 1.02
151.00 153.00 2 3.29
156.00 158.00 2 2.53
164.00 165.00 1 1.26
167.10 169.00 1.9 1.04
D125 7617.3 6757.22 322.95 227 -30 189.8 189.8 189.8 3.00 4.00 1 7.32
11.00 15.00 4 2.38
37.00 70.00 33 4.5
91.00 92.00 1 1.32
109.00 110.00 1 1.78
123.00 124.00 1 1.38
Total 1763.2 1763.2 1763.2
Qualified Person
Information in this report relating to the exploration results
is based on data reviewed by Timothy Daffern, BEng, MBA, FIMMM,
MIMMM, MCIM, Chartered Mining Engineer, Chief Executive Officer of
Hambledon Mining plc. Timothy Daffern has in excess of 21 years
experience in mineral project development and evaluation including
exploration and is a Qualified Person under the AIM Rules.
ENQUIRIES:
HAMBLEDON MINING
Telephone +44 (0)207 233 1462
Charles Zorab
FAIRFAX I.S. PLC
Nominated Adviser and Joint Broker
Telephone +44 (0)207 598 5368
Ewan Leggat / Katy Birkin
AMBRIAN PARTNERS LIMITED
Joint Broker
Telephone +44 (0)207 634 4700
Samantha Harrison
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