The Board of GIB is excited to have acquired Mining Lease M31/481. This lease fills in the gap between the historic Neta and Gawler mines and provides some excellent ground for the targeting and discovery of Neta-style gold deposits, the type-deposit of which lies only 60 metres north of the M31/481 boundary.
The extensive historic workings and historic mines on M31/481 further add to the prospectivity of the acquisition. The Company considers the terms of this acquisition as competitive and fair. GIB welcomes
Hawthorn Resources Limited to the GIB share register and thanks them for this opportunity to add value to GIB shares.
The Company is working on following-up on the historic exploration data from the extensive and valuable database acquired from Hawthorn Resources Limited as part of this transaction. The Company is generating new exploration targets from this data with a view to drilling the best targets. Further updates will follow.
On a separate note to the acquisition, the Company continues to progress the grant of the mining lease application over the Neta Prospect at Edjudina and GIB is optimistic the mining licence will be granted in an expeditious manner.
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