For personal use only
ASX
A
/ MEDIA ANNOUNCEMENT
T
19 July
J
2011
CARBINE INCRE
EASES S
STRATEG
GIC LAND
D HOLDIING TO
1,464
4 SQUAR
RE KILOM
METRES
S IN BUR
RKINA FA
ASO, WE
EST AFRIICA
HIGHLIGHT
H
TS

Optio
on agreeme
ent signed on new exp
ploration Pe
ermit, Mado
ougou 2, fo r an additio
onal 91sq.
kms. Total land
d holding no
ow 1,464sq. kms.

Very
y limited his
storical exploration und
dertaken but scout RC results from
m the 1990’s
s returned
interrcepts of 4m
m at 1.9g/t go
old and 2m at 4.9g/t gold.

Two large artisa
anal fields currently beiing mined on the Permit.

Perm
mit is directtly northeas
st and alon g the regio
onal structural strike d
direction of Carbine’s
Mado
ougou Perm
mit where re
ecent and h istorical sco
out drilling returned reesults of 56m
m at 1.6g/t
gold
d, 4m at 9.6g
g/t gold, 8m at 20.9g/t, 1 0m at 6.7g/tt gold and 14m at 4.8g/tt gold.

Perm
mit situated over the Ou
uahigouya D
Deformation
n Corridor an
nd on Birim ian Greensttone.

Aggrressive exploration pro
ograms to sttart immedia
ately after wet
w season.
Carbine
C
Res
sources Lim
mited (ASX: CRB, CRB
BO) is pleased to anno
ounce that iit has entere
ed into an
agreement
a
to
o earn up to 100% of one
e important n
new explorattion Permit fo
or its Madouggou Project, in Burkina
Faso,
F
West A
Africa (Figure
e 1). The ne
ew Permit, M
Madougou 2, which adds 91sqkms to the total land
d package,
is
s situated to
o the northe
east of Carbine’s existing
g Madougou
u Permit. To
otal land holdding at the Madougou
Project
P
has n
now increase
ed to 1,464 square kilome
etres.
Similar
S
litholo
ogies, alterattion and defo
ormation to tthose seen on
o the Mado
ougou Permitt have been indentified
on
o the Mado
ougou 2 Pe
ermit during preliminary reconnaissa
ance mappin
ng. Regionaal data and first pass
reconnaissan
r
nce mapping
g show the Permit
P
to be underlain by
y a mixture of
o Birimian G
Greenstones (volcanics
and
a sedimen
nts) and gran
nitoids. Rece
ent sedimentts cover the western extrremities of thhe Permit. Recent
R
and
historical
h
sco
out drilling on
n the Madou
ugou Permit returned inte
ersections off 56m at 1.66g/t gold, 4m
m at 9.6g/t
gold,
g
8m at 2
20.9g/t, 10m
m at 6.7g/t go
old and 14m
m at 4.8g/t go
old.
Two
T
large arrtisanal minin
ng fields are located on Madougou 2 Permit. Mineralisation at these site
es appears
to be associiated with quartz veining
g and shearring on the contacts be
etween greennstone sedim
ments and
volcanics
v
with intrusive bodies.
carbine@caarbineresources
s.com.au
www.carb
bineresources.c
com.au
For personal use only
The
T new Perrmit has had very limited modern dayy exploration
n. In the 199
90’s Channell Resources conducted
some
s
region
nal soil geocchemistry an
nd drilled tw
wo scout RC
C holes over the southeern half of the Permit
intersecting 4
4m at 1.9g/t gold and 2m
m at 4.9g/t g
gold adjacen
nt to the one of the preseent day artisa
anal mining
sites.
s
Carbine
C
inten
nds to start exploration on
o this Perm
mit during Oc
ctober 2011 after the weet season is over. The
exploration
e
p
programs willl include ma
apping and g
grab samplin
ng, soil and auger geocchemistry tog
gether with
high
h
resolutio
on aeromagn
netics and radiometrics ssurveys.
The
T terms off the agreem
ment include limited up-fro
ont paymentts with furthe
er staged payyments over 3 years to
allow
a
Carbine Resourcess to acquire 100% of th
he Madougou 2 Permit, should explooration results support
such
s
underta
akings. Nego
otiations are currently un
nderway for additional
a
Pe
ermits and fuull terms and conditions
of
o each agree
ement will be
e released in
n due course .
Executive
E
Diirector Explo
oration, Aoife
e McGrath ccommented that
t
Manage
ement is verry happy with this new
acquisition.
a
““This new Permit
P
along strike from
m the Madou
ugou Permit is situated on highly prospective
p
Birimian
B
Greenstone and
d contains ex
xtensive con
ntact zones between
b
greenstones annd granitoids
s. Much of
the mineralissation in this region is as
ssociated witth shearing and quartz veining
v
alongg these conttacts. Two
la
arge artisana
al fields are currently
c
being mined on
n the Permit and
a further enforce
e
the pprospectivity of our new
Permit.
P
Exploration prog
grams due to commencce in Octobe
er 2011 are currently beeing designe
ed for this
Permit”.
P
For
F further information,, please con
ntact:
Aoife
A
McGra
ath – Executtive Director Exploratio
on: +44 7522
2 062 655, +2
226 7897 45595 (UK and Burkina)
Evan
E
Cranstton – Non Executive
E
Director: +61 4
408 865838 (Australia)
The
T information in this report th
hat relates to ex
xploration resultts is based on in
nformation compiled by Aoife M
McGrath who is a member of
th
he Australian IInstitute of Ge
eoscientists. Ao
oife McGrath iss employed by Carbine Reso
ources Ltd. Aooife McGrath has
h
sufficient
experience
e
relevvant to the style
e of mineralisatio
on and type of d
deposit under co
onsideration and to the activityy she is undertak
king to qualify
as
a a Competentt Person as deffined in the 2004 Edition of the
e “Australian Co
ode of Reporting
g of Explorationn Results, Minerral Resources
and
a Ore Reservves”. She conse
ents to the inclusion of the mattters based on in
nformation in the
e form and conttext in which it appears.
a
carbine@caarbineresources
s.com.au
www.carb
bineresources.c
com.au
For personal use only
Figure
F
1: Loca
ation of new Madougou 2 Permit in relatio
on to existing Madougou Prroject Permits..
carbine@caarbineresources
s.com.au
www.carb
bineresources.c
com.au