MENAFN – ProactiveInvestors – Australia – 16/07/2012
(MENAFN – ProactiveInvestors – Australia) Gippsland (ASX: GIP, FRA: GIX) now has a rig in place at the wholly owned Adobha Project in Eritrea, with a 5000 metre reverse circulation drilling program underway – with the project prospective for gold and volcanogenic massive sulphide targets.
The program will take around six weeks to complete with drilling down to around 80 metres testing each of the anomalies.
A gravity survey has already been completed including extension of survey areas, which was conducted over twelve electromagnetic anomalies including six high and medium to high ranked electromagnetic anomalies, identified from a Geotech Airborne survey.
Gippsland's Eritrean assets are held by the wholly owned Adobha Resources, with the subsidiary's tenement holding in the country an extensive 2200 square kilometres.
This is split between the Adobha Exploration Licence covering 2,100 square kilometres and the Gerasi South Exploration Licence covering an additional 100 square kilometres, with the Adobha region prospective for volcanogenic massive sulphide mineralisation and structurally controlled gold mineralisation.
Local examples of these types of deposits are the Bisha base metal deposit hosting 1.618 million ounces of gold and 0.45 million tonnes of copper in the Ore Reserves, which is located some 174 kilometres to the south and the Probable Ore Reserve of 0.760 million ounces of gold at the Zara gold project (Koka deposit).
This project is just 16 kilometres to the south of Gippsland's most southern Licence. The Precambrian Nubian-Arabian Shield hosts at least five gold deposits containing in excess of 1 million ounces of gold including the 14.5 million ounce Sukari gold deposit in Egypt.
State of Eritrea ሃገረ ኤርትራ Hagere Ertra دولة إرتريا
Dawlat Iritrīya
Anthem: Ertra, Ertra, Ertra Eritrea, Eritrea, Eritrea
Capital (and largest city) Asmara
15°20′N 38°55′E / 15.333°N 38.917°E / 15.333; 38.917
Official language(s) Tigrinya, Arabic, English Other languages Tigre, Saho, Bilen, Afar, Kunama, Nara, Hedareb,.
Ethnic groups 60% Tigrinya, 30% Tigre, 4% Afar, 3% Saho, 3% Kunama
Demonym Eritrean Government Provisional government
- President Isaias Afewerki
Independence
- From Italy November 1941
- From United Kingdom under UN Mandate 1951
- from Ethiopia de facto 24 May 1991
- From Ethiopia de jure 24 May 1993
Area
- Total 117,600 km2 (100th)
45,405 sq mi - Water (%) 0.14%
Population
- 2009 estimate 5,224,000[4] (109th)
- 2008 census 5,291,370
- Density 43.1/km2 (165th)
111.7/sq mi
GDP (PPP) 2010 estimate
- Total $3.625 billion[5]
- Per capita $681[5]
GDP (nominal) 2010 estimate
- Total $2.117 billion[5]
- Per capita $397[5]
HDI (2007) steady 0.472 (low) (165th)
Currency Nakfa (ERN)
Time zone EAT (UTC+3)
- Summer (DST) not observed (UTC+3)
Drives on the right
ISO 3166 code ER
Internet TLD .er
Calling code 291
1 ,. National TV: Eritrea Television (ERI-TV)
Eritrea (play /ˌɛrɨˈtreɪ.ə/ or /ˌɛrɨˈtriːə/;[6] Ge'ez: ኤርትራ ʾErtrā, Arabic: إرتريا Iritrīyā), officially the State of Eritrea, is a country in the Horn of Africa. The capital is Asmara. It is bordered by Sudan in the west, Ethiopia in the south, and Djibouti in the southeast. The northeast and east of the country has an extensive coastline on the Red Sea, directly across from Saudi Arabia and Yemen. The Dahlak Archipelago and several of the Hanish Islands are part of Eritrea. Eritrea's size is approximately 117,600 km2 (45,406 sq mi) with an estimated population of 6 million...
Source: Wikipedia
