Buffalo Gold Ltd.: Bondi Mining Starts Drilling at Murphy Uranium Project, Austr
posted on
Apr 22, 2008 06:16AM
Sardinia - Papua New Guinea - Ghana - Australia
Brian McEwen, President and CEO of Buffalo Gold Ltd. (TSX VENTURE:BUF)(OTCBB:BYBUF)(FRANKFURT:... is pleased to report that Bondi Mining Ltd. (ASX:BOM) has commenced drilling at the Murphy Uranium project in the Northern Territory, Australia. In November 2007 Buffalo completed the sale of the Murphy property to Bondi along with several other uranium projects, and currently holds approximately 25% of the company.
Bondi's news release from April 17th, 2008 states that "the first phase of drilling on the project will comprise approximately 200 RAB holes for around 4000 metres, testing 10 different target areas which have been developed based on detailed magnetics and radiometrics, Hoistem airborne EM survey results, and Radon track etch anomalies. All the targets to be drilled are in the correct geological setting for unconformity uranium mineralisation of the type seen in the East Alligator region (eg Jabiluka - 360 million lbs at 0.45% U3O8) or of the type seen in the Westmoreland region (eg Westmoreland - 48 million lbs at 0.09% U3O8) in Queensland. The targets all lie under a thin veneer of recent cover and were therefore never prospected in the last uranium boom, despite the fact that they display all the correct geological ingredients for this style of mineralisation..."
According to the Bondi release the first phase of drilling will take approximately 4 weeks, and a second phase is planned to be carried out in July-August once results from this drilling program have been received and interpreted. For full details of the news release please see the Bondi website, www.bondimining.com.au.
About Bondi Mining
Bondi Mining Ltd is a Brisbane-based exploration company with a focus on high-grade cycle-proof uranium targets with world class size potential. In addition, the company has a number of gold copper and nickel targets which have been drilled in 2007. The company's Australian uranium portfolio is made up of 20 granted tenements and 3 applications totalling 15,085 km2 in three major uranium provinces in the Northern Territory and Queensland.
About Buffalo Gold
Buffalo's vision is to build shareholder value by growing a gold mining company through a combination of exploration and acquisition. The Company became a gold producer in November 2007 with the acquisition of the Furtei mine, and is exploring projects in Sardinia, PNG and Australia. The Company also has strategic investments into Kinbauri Gold with advanced projects in Northern Spain and AMI Resources with grassroots projects in Ghana.
To find out more about Buffalo Gold Ltd. (TSX VENTURE:BUF), please visit the company website at www.buffalogold.ca.
Brian McEwen is the Qualified Person for Buffalo and has read and approved the contents of this news release.
On behalf of the Board of Directors of BUFFALO GOLD LTD.
Brian McEwen, President and CEO
This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Buffalo undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ("SEC") permits mining companies, in their filing with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this website, such as "mineral resources", "measured", "indicated", and "inferred resources", that the SEC Guidelines prohibit us from including in our filing with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-30150, available from us by contacting the investor relations department.
SOURCE: Buffalo Gold Ltd.
Buffalo Gold Ltd. Julie Hajduk Investor Relations (604) 685-5492 or Toll Free: 1-888-685-5492 (604) 685-2536 (FAX) Email: julie@buffalogold.ca Website: www.buffalogold.ca
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