Buffalo Gold Ltd.: Bondi Mining Starts Drilling at Murphy Uranium Project, Australia
April 22 2008 - 8:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (OTCBB: BYBUF)(FRANKFURT: B4K), 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy of this press release.
Contacts: 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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