🕐03.05.10 - 03:36 Uhr
Dourado acquires unlisted public company Zelta Holdings Ltd
Dourado Resources Limited
ASX ANNOUNCEMENT
3 May 2010
Dourado acquires unlisted public company Zelta Holdings
Dourado Resources Ltd (ASX: DUO) ("Dourado" or "the Company") is pleased to
advise the market of the successful acquisition of Zelta Holdings Ltd; an
unlisted public company that owns a series of tenements and other mining
assets.
Dourado has acquired 100% of the issued capital from a number of
Shareholders unrelated to the Company for a cash consideration of 1.2
million dollars making the holder of these assets a wholly owned subsidiary
of Dourado.
The Managing Director, Mr Peter Del Fante, commented on this acquisition
being strategic to the existing holdings of Dourado.
He also commented on
the timely nature of the follow-up drill program at Garden Gully/Sabbath
project due to commence this month.
This acquisition will have the effect
of expanding the Dourado groups portfolio of exploration assets,
consistent with its objectives at the time of listing.
The tenement schedule is as follows for the region:
Garden Gully ELA 51/1343 46.5 km2
Battery Site PLA 51/2622 1.54 km2
This area has come to the forefront recently with significant results being
released by Dourado and Doray Minerals Ltd.
On the 15 March 2010, Dourado released significant gold results resulting
from the first drilling program at Sabbath and Garden Gully.
On the 20 April 2010, Dourado announced a "New drill program to follow
significant results at Dourados Sabbath gold project in WA".
A follow-up
drill program is scheduled to start in May 2010.
The program will include 6
(or more) deep holes to be drilled at approximately 120m in depth.
In late March 2010, Doray announced encouraging news in the form of highly
significant results at its Andy Well project located in close proximity to
Dourados Sabbath project.
The potential of the area was again highlighted when Doray announced
results to the follow up program for Andy Well on 7 April 2010.
This highly prospective package also includes the Barrambie and Polelle
tenements that have potential for vanadium and gold mineralisation.
The
tenement schedule for these is as follows:
Polelle ELA 51/1272 24.8 km2
Barrambie PL 57/1226 1.95 km2
Barrambie PL 57/1227 1.93 km2
The area is particularly notable for its massive vanadium resources.
This
includes the Windimurra deposit that is set to become the worlds largest
vanadium deposit.
The deposit was mothballed as previous owners -
Windimurra Vanadium Ltd - went into administration on the 18th February
2009.
However, Windimurra is set to be revived through a joint venture
between Mineral Resources Ltd and Atlantic Ltd.
As of late December 2009, an identification of a substantial, high-grade
vanadium zone of mineralisation was announced for Gabanintha.
Click here to download the full Announcement.
http://esp.gewru.com/download/files/12414/1152491/Dourado%20acquired%20Zelta%20Holdings.pdf
For further information please contact:
Peter Del Fante
Managing Director
Dourado Resources Limited
T: (08) 9460 4456
David Tasker
Professional Public Relations
T: (08) 9388 0944
E:
Dourado Resources Limited
Level 4
14-16 Victoria Avenue
Perth WA 6000
T: +61 8 9221 0666 F; +61 8 9221 0555
ABN: 84 131 080 847
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