URUCUM UNDERGROUND UPDATE pdf download

FD1410
Lode 1 23 m @ 4.92 g/t including 5 m @ 20.32 g/t
Lode 2 5 m @ 2.76 g/t
FD1409
Lode 1 2 m @ 17.31 g/t gold Lode 2 20 m @ 2.00 g/t gold FD1406
Lode 1 25 m @ 2.29 g/t gold including 17 m @ 3.13 g/t gold
Lode 2 22 m @ 2.75 g/t gold including 18 m @ 3.25 g/t gold
FD1405
Lode 1 8.75 m @ 4.38 g/t gold including 5 m @ 6.7 g/t gold
Lode 11 12 m @ 4.81 g/t gold including 7 m @ 6.70 g/t gold

Beadell Resources Limited (“Beadell” or “the Company”) is pleased to announce significant new drill results from Urucum Underground at its 100% owned Tucano gold mine in Brazil (Figures 2 & 3, Table 1). Surface diamond drilling targeting Urucum Underground continues to intersect high grade results beneath the open pit reserve showing excellent continuity of the recently identified lode plunges. The drilling is targeting an initial underground reserve in the 200-400 m vertical area beneath the Urucum North open pit with a Pre-Feasibility to be completed by end of 2015. New results have been received from Lode 1 and Lode 2 which form two subparallel shear zones separated by approximately 10-20 m. Another parallel footwall lode was intersected in FD1405, Lode 11.

China is oversupplied with gold, according to one analysis — only the Chinese don’t seem to be in on this news.

Otherwise why would they be in the process of setting up what will be the world’s largest fund in terms of physical gold held, eventually to grow to $US16 billion ($20.9bn) worth of the yellow metal? Or indeed why would they have entered big deals over the past week to get a foothold in Papua New Guinea and Siberian gold production? Read more