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Australia

New South Wales

Republic Gold holds a 75% share of the Lucky Draw tenement EL 6463, located south of Bathurst in New South Wales.

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Burraga – Copper/Gold – Bathurst NSW

The Burraga copper field lies within EL 6463 tenement ( 79 square kilometers) and includes the former Lloyds copper mine which was historically a significant underground copper mine.  A number of prominent targets remain around the old workings, associated with these and with earlier drilling and geophysics.  These have been heightened by the advances in understanding of this style of copper deposit in NSW in recent years.

The Lloyds Mine at Burraga was an underground mine that worked a rich copper shoot intermittently from 1870 to 1927, reportedly producing over 500,000 tonnes at 3.7% Cu and was the focus of the NSW copper industry at the turn of the century.  Substantial exploration was carried out at Burraga in the 1960’s to 1980’s.  This work indicated a significant area of copper anomalism around the historical mine extending over 2 kilometres to the north of the old mine.  This has been confirmed in places by drilling.

In 2007/08, the Company drilled a series of very successful drillholes that encountered not only the expected copper mineralisation, but also silver, lead and zinc mineralisation.  There were a number of highly encouraging intersections received, with the best intersections being 3.9 metres at 1.48% Zn, 0.93% Pb & 8.3 g/t Ag, 2.5 metres at 0.97% Cu & 9.4 g/t Ag, 2.35 metres at 0.95% Zn, 0.72% Pb & 6.1 g/t Ag, 10.0 metres at 0.55% Cu, 0.11% Zn & 3.8 g/t Ag, 10 metres at 0.38% Cu & 3.4 g/t Ag, 12.0 metres at 0.34% Zn, 4.3 metres at 0.68% Cu, 0.03% Pb, 0.14% Zn, 4.3 g/t Ag & 0.07 g/t Au and 0.9 metres at 1.87% Cu, 0.97% Pb, 1.51% Zn, 41.2 g/t Ag & 0.13 g/t Au.

Work during 2008/2009 advanced the project with a number of new initiatives.  A leading consulting geologist in the style of the mineralisation at Burraga visited the site and reported favourably on the Project.  The Company’s Structural Geology consultant, Dr Steve King, visited Burraga to follow up recent reinterpretations and assist in defining mineralisation in the expanded mineralised system.  An interpretation of petrological examinations of a number of rock samples concluded that the mineralisation at the Project probably has a deep-seated source for the mineralisation; a finding that expands considerably the size potential of Burraga.

The Company previously announced that it had planned a significant drilling programme.  This programme is being reviewed in light of the new information revealed this year and can be finalised when the Company receives its final report from Dr King.  Importantly, this drilling programme will target the potential deeper sources of mineralisation.

Lucky Draw – Gold – Bathurst NSW

EL 6463 covers 79 square kilometres and holds two areas of mineralisation, one gold Lucky Draw and the other copper (Burraga).  Lucky Draw has an indicated and inferred resource of approximately 76,500 ounces of gold associated with the Lucky Draw gold mine worked very profitably as an open pit in the late 1980’s.  Republic has also submitted a Mining Lease Application (MLA 282) over an area of tailings from the Lucky Draw Mine which is estimated to hold a further 30,000 ounces of gold.