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Significant Results From Alacer's Australian Exploration Programs

To view " Figure 1: South Kalgoorlie tenement Location showing the three key target areas to be drilled during 2013" please click http://files.newswire.ca/986/Figure1.pdf

Location 48

The Location 48 area lies immediately southeast of the 5 million ounce HBJ deposit and Jubilee processing plant, and extends 10km south along the Boulder-Lefroy Fault.  Historical exploration in this area has not been effective as the area is dominated by thin cover that is not amenable to soil geochemistry.

Twelve high-priority targets have been defined in Location 48.  Drilling of the first target, called 'Wedge', commenced late in 2012 and has been a focus of exploration in 2013.  A total of 27km of aircore drilling has been completed across the target area, initially on 160m x 40m spacing and then infilled to 80m x 40m spacing.

Drilling results have identified widespread shallow gold anomalism in oxidized rock over a distance of two square kilometers, with several multi-gram intersections over appreciable widths intersected at depths less than 30m. Figure 2 shows the wide distribution of strong anomalism and mineralization generated by the aircore drilling program at Wedge and results include:

  • 4m at 5.9g/t gold from 16m in WGA133;
  • 4m at 5.6g/t gold from 4m in WGA142;
  • 4m at 14.6g/t gold from 20m in WGA228;
  • 7m at 4.9g/t gold from 27m in WAC261; and
  • 2m at 8.4g/t gold from 8m in WAC296.

To view "Figure 2: Wedge Prospect at Location 48. Widespread gold anomalism is seen in broad early stage aircore drilling.  Alacer drilling is represented as circles and effective historical drilling as triangles.  Drill collars color coded to maximum gold assay value in (red > 1.0g/t gold)" please click http://files.newswire.ca/986/Figure2.pdf   An RC drilling campaign is planned to commence soon to follow-up these strong results from first-pass aircore drilling.

SBS28 Complex

Located near Coolgardie and 35km west of the Jubilee processing plant, the SBS28 complex is a 3km-long mineralized zone that has been sporadically mined under fragmented ownership over the past 70 years.  Historical gold production from the SBS28 Complex is estimated to total 1.4 million tonnes at 7.0g/t gold for 320,000 ounces.

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