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Initial Burraga Drilling Indicates A Polymetallic Deposit

Tuesday, November 20th, 2007

The Board of Republic Gold announce that it has received the first results from the recently completed drilling programme at the 75%-owned Burraga Copper Project that is located in mineral-rich Central New South Wales. The analysis results for the first two holes of the 11-hole programme confirmed the field reports announced to ASX recently, that significant copper mineralisation as chalcopyrite, associated with lead and zinc sulphides, had been reported from the field.
Managing Director of Republic Gold, Mr John Kelly said “This is the first drilling at Burraga for nearly 25 years and the results are very encouraging. We were viewing Burraga as a copper-gold prospect, but to get such strong silver, lead and zinc results from the first drillholes is very encouraging. The Burraga target covers a large area, with old workings and co-incident high geochemistry extending over an area covering almost 4 kilometres of strike and up to 900 metres across.”
The Company has received results from diamond drillholes RCR-001C and from RCR-001B, which was abandoned after drilling difficulties. Results were also received for the RC pre-collar section of RCR-004. The target zone for this drillhole was in the diamond tail section of the drillhole below the RC portion. Analyses have not yet been received for this deeper, target zone.
The three drillholes were variously mineralised over nearly the entire lengths sampled. This included the RC pre-collar portion of RCR-004 where no mineralisation was expected. Whilst many of these grades are uneconomic, these results do point to there being a significant mineralising system at Burraga.
The presence of intrusive porphyries was noted in the drillhole logs. The RC pre-collar of RCR-004 was drilled through mineralised porphyry. This supports the interpretation that the mineralisation could be related to a larger, deeper seated, unroofed intrusive mineralising system at depth. Importantly, previously unknown zones of mineralisation have been intersected away from the historical Lloyd’s Mine. Further analysis results are still awaited.
As noted above, Burraga is a large target. The main historic producing mine, the Lloyd’s Mine, sits in the centre of the 4 kilometres of strike and was mined as a shoot over a down plunge length of approximately 550 metres. The high grade vein that was mined varied in width from 0.5 to 3 metres. This was contained within a lower grade zone up to 20 metres wide, defined by drilling in the 1980s and earlier. The results of the new drilling have significantly extended the dimensions of this lower grade zone, with low grade lead and zinc results particularly extending right from the surface to the top of the old mine workings.
A total of 1,379 metres in 11 holes, comprising 787 metres of RC and 592 metres of diamond drilling was completed in the programme.
These initial results are sufficiently encouraging that a Stage 2 drilling programme is to be planned following the receipt of the remaining analysis results. The table below shows the details of the Burraga drilling programme to-date.
The Burraga exploration licence is owned in partnership with Republic’s 25% joint venturer, Astor Consultants Pty Limited.
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