About GGG Resources Plc

The Company was incorporated on 3 November 2004 and listed its shares on the London Stock Exchange’s AIM on 30 March 2005 in order to raise funds to acquire, explore and develop projects.  We also dual listed our shares on the Australian Securities Exchange on 19 May 2011.

GGG started as a gold and copper exploration company with a Chinese focus within an Asia-wide brief. We successfully explored two projects in China (Nimu and Snow Mountain), and in the case of Nimu, demonstrated GGG’s capability to make a significant geological discovery. The world financial crisis in 2008 prevented us from gaining the true value from Nimu.

Using the profits from China, and benefiting from relationships forged by our directors in Australia, we were found the opportunity to invest in Bullabulling. Our experience meant we could see the great potential in Bullabulling. And after using new geostatistical, spatial data modeling and modern exploration techniques to analyse previous geological data, we became increasingly excited about Bullabulling’s potential. Of course, our confidence in Bullabulling is boosted by knowing we are exploring in the productive Yilgarn Craton of Western Australia, a part of the world that hosts 160 gold deposits with resources greater than one tonne of gold. What’s more, 19 of these deposits are considered "world class", containing larger than 100 tonnes of gold.  In short, we know we are looking in the right place.

In August 2010, we announced an updated JORC Mineral Resource at Bullabulling of nearly 2m ounces of gold (41.5 Mt @ 1.5 g/t Au at 0.7 g/t Au cut off), an increase of approximately 450%, which was twice as much as we initially expected.

We have now (as at 15 August 2011) announced a further updated JORC at Bullabulling.  The new resource estimate, from Phase One drilling alone, is 2.6m ounces of gold at 1.03 g/t, with a cut off of 0.5 g/t, giving us over 710,000 ounces of gold in the Indicated status category.

What this new data continues to demonstrate is that Bullabulling is a very large and highly continuous system, which we believe is capable of achieving an initial reserve of over 1m ounces of gold. 

Currently, under Phase Two confirmation drilling, a further 70,000 metres of drilling is underway which we expect will allow us to upgrade a substantial portion of the 1.9m Inferred Resource to Indicated status in Q1 2012.  This will enable GGG to estimate an initial ore reserve.

Based in the well-established gold mining district of Coolgardie in Western Australia, Bullabulling is conveniently close to established power, water and road infrastructure.  This means we would be able to bring a new Bullabulling open pit mine into production far more quickly than if this were a greenfield project.  

We own half of the Bullabulling venture. The other half is owned by Auzex Resources Limited (www.auzex.com), an ASX listed company. GGG and Auzex are focused on developing this potentially world class gold asset.