ASX Announcement Dated 25/07/07
ACTIVITY REPORT FOR THE QUARTER ENDED 30 JUNE 2007
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“This press release is not for dissemination in the United States and shall not be disseminated to United States news services.”
HIGHLIGHTS
- First gold production from the company’s 100% owned Simberi Oxide Project remains on track for October 2007. Allied Gold has spent AUD$56.53 million and committed AUD$66.44 million to the project thus far, representing 68% and 80% respectively of the total capital expenditure budget.
- Accommodation village and wharf both completed and fully operational. The ball mill and scrubber were completely installed by early July 2007.
- Significant results were received from road channel sampling on the Monun Creek prospect, in the valley approximately midway between the Sorowar and Pigiput deposits. The most striking results were:
- 30m of 1.19 g/t gold
- 90m of 1.79 g/t gold
- 95m of 1.66 g/t gold
- 295m of 1.17 g/t gold, including:
- 30m of 2.87 g/t gold and also
- 20m of 3.06 g/t gold
- These channel sampling results indicate that Monun Creek most likely represents the south-easterly extension of the Sorowar deposit, Simberi’s largest single deposit with a total resource of 1.258 million ounces and ore reserves containing 546,000 ounces of gold. This apparent strike extension is in the order of 300 metres, which is significant in the context that Sorowar has a strike length of approximately 700 metres.
- Exploration drilling is poised for recommencement in the September quarter with delivery and commissioning and deployment of four drilling rigs anticipated during the period.
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