Gippsland Limited (GIP)

Gippsland Limited (GIP) is pleased to release the new Ore Reserve statement for the Company’s Egyptian Abu Dabbab tantalum-tin project. 

Abu Dabbab Ore Reserves have now increased from 14.60 million tonnes to 30.24 million tonnes, grading 255g/t Ta2O5 and 0.109% Sn, an overall 107% increase in total Ore Reserves.

The new Ore Reserves were determined following the highly successful reverse circulation (RC) and diamond drilling programme, details of which were announced on 14 July 2008, which resulted in the upgrade of a substantial portion of the Indicated and Inferred Resources to the higher Indicated and Measured categories.  This upgrade saw the combined Indicated and Measured Resources increase by 30% from 25.0 million tonnes to 32.5 million tonnes with the total Mineral Resources expanding to 44.5 million tonnes, an increase of 11%.

Executive Chairman of Gippsland, Jack Telford commented
“The doubling of the Abu Dabbab Ore Reserve from 14.6 million tonnes to more than 30 million tonnes graphically illustrates the quality of this world scale asset which is set to become a dominant player in the global tantalum supply chain.  This massive increase in the project’s Ore Reserve will undoubtedly provide the global tantalum market, investors and project financiers with increased confidence in the project.”