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Additional Information
Market: AIM
Sector: Gold Mining
EPIC: GGG
Latest Price: 16.25  (0,00%)
52-week High: 42.13
52-week Low: 10.88
Market Cap: 27.74M
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GGG Resources
www.gggresources.com

GGG Resources plc (formerly Central China Goldfields plc) is a publicly quoted mining exploration company. We own half the mining rights to Bullabulling, a former open pit gold mine in the Coolgardie region, Western Australia.  We share the rights jointly (50:50) with Auzex Resources Limited, our Australian partners. Using new exploration techniques and modern computer modelling, we are evaluating the potential of Bullabulling, which currently has an inferred gold resource of 1.98m ounces.

Full GGG Resources profile here
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Auzex Resources to announce resource upgrade at Bullabulling Gold Project

29th Jul 2010, 9:06 am

Auzex Resources (ASX: AZX) will receive drill results and announce a significant resource upgrade at the advanced Bullabulling gold project in the next two to three weeks.

A diamond drilling program consisting of seven holes totalling 1,432m is underway based on a recently completed structural study, which have the potential to intersect significant mineralisation outside the current known resources.

Resource modelling is currently underway by independent consultants which will result in an updated JORC compliant resource, based on a reassessment of the existing drillhole database.

The project is being developed in a joint venture with Central China Goldfields (LON:GGG)

Bullabulling’s current resource stands at 9.3 Mt (million tonnes) grading 1.44 g/t gold for 431,600 oz, including 4.8 Mt grading 1.51 g/t gold for 237,000 in the measured category and 4.1 Mt grading 1.35 g/t gold for 180,800 in the indicated category.

Auzex had acquired all the rights, title and interest in Bullabulling from Jervois Mining Ltd and subsequently transferred them to the JV with Central China Goldfields. The JV parties intend to fast track the project to bankable feasibility within two years at an estimated cost of A$2.5 million.

The Bullabulling JV with Auzex, has become one of Central China Goldfields key projects as the company has transitioned away from its operation in the People’s Republic of China. A total of approximately £2.375 million has now been received from the proceeds of the sale of the company's Chinese assets. Central China Goldfields will start the process of closing down its wholly owned Chinese subsidiary Chengdu Mining Technology Development Ltd after which time the remaining funds of approximately £1.9 million will be transferred to the UK.

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