Further promising results for Gold Aura

Gold Aura Ltd has received further encouraging assay results, this time for diamond....

  Gold Aura Ltd has received further encouraging assay results, this time for diamond core hole GDH019 from its resource infill drilling program at Gameta located within Exploration Licence 1070 on Fergusson Island in Papua New Guinea.The Fergusson Island Project is a GOA operated joint venture between GOA and Yamana Gold Inc., a Canadian listed company. Yamana is a non-contributing partner, which is currently diluting its interest down from an original 40%. Hole GDH019 is located on section 1095SE, some 70m down slope from GHD017 which intersected thick intersections of 30.0m at 3.12 grams per tonne (g/t) gold and 11.3m at 1.09g/t gold. Gold Aura is highly encouraged by the continued intersection of deeper and thicker gold mineralisation than previously known in three sections now over an along strike distance of 100 metres. It is expected that the resource will be significantly increased in this area.According to the company, this result is encouraging as GHD019 was drilled from the previous site of reverse circulation hole GRC146 which was terminated in mineralisation after intersecting 5.0m at 2.02g/t gold. This has significantly increased the resource size in this area and supports the thicker intersections obtained in hole GDH017.The planned infill drilling program at Gameta will involve 60 holes totalling at least 4,000m designed to upgrade the gold resource to JORC indicated and measured status and increase the resource gold grade. To date 15 holes for approximately 1,700m have been completed. It is hoped that the Gameta program will continue to define higher grade gold zones and increase the resource size. In view of the results obtained to date, it is expected that the program will lead to the start of a full feasibility study in 2008 into possible commercial gold production at Gameta.