ASX Release ASX Release 10th November 2011 5m 5

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ASX Release ASX Release 10th November 2011 5m 5 Powered By Docstoc
					ASX Release
10th November 2011
                                            5m @ 5.1% COPPER INTERSECTED
Kidman Resources Limited (ASX:               DOWN-PLUNGE AT BLIND CALF
KDR)    is an   Australian    listed
company focused on the exploration        Kidman Resources Limited (“Kidman” or the “Company”)
and development of its Base Metal
and Rare Earths discoveries in New        has received assay results from the first 6 holes of the
South Wales and the Northern              recently completed 19 hole RC drilling program at the
                                          company’s Blind Calf and Wilmatha projects in central NSW.

ASX Codes:                                HIGHLIGHTS
KDR – Ordinary Shares
KDRO – Listed Options
                                                 High grade copper mineralization extended
Market Cap:                                       down-plunge at Dunbars and Blind Calf Lodes
$15.33m @ $0.36 per share
(10/11/2011)                                     Results include
Crowl Creek (100%) –
                                                  -   10m @ 2.80% Cu from 92m (KC33)
Copper/Silver/Gold /Lead/Zinc                         including 5m @ 5.1% Cu
– Lachlan Fold Belt, Central NSW
                                                  -   8m @ 2.75% Cu from 141m (KC36)
Hale River (100%) – Rare Earths
– Alice Springs NT                                    including 4m @ 4.0% Cu

Investment Highlights:                           Both KC33 and KC36 extend the discoveries at
- 23m @7.07% Cu from 24m at Blind
  Calf NSW prospect
                                                  the Dunbar and Blind Calf Lodes 25m below
                                                  previous intercepts, and remain open at depth
- Multiple Copper lodes identified at
  Blind Calf prospect open at depth
                                                 Additional assay results are awaited for the
- Follow up drilling program to test
  vertical continuity and near surface            11 remaining holes from the current program
- Hale River rock chip sampling yielded
                                                 IP survey completed – awaiting 3D inversion
  up to 1.66% REO                                 model
- Drilling to commence at Hale River
                                          These initial results (refer Table 1) confirm and extend
  to test REO
                                          the continuation of copper mineralization at Blind Calf.
Issued Capital:                           The KC33 intercept also included 1m at 1.6g/t gold.
42,572,508 ordinary shares
10,601,252 listed options (20c Nov
                                          Earlier results from Blind Calf included 27m @ 6.08% Cu
                                          from 24m at the Dunbars lode (KD11-17).
Garrick Higgins – Non Exec Chairman       Two deeper drillholes, KC43 and KC44, didn’t follow the
Shane Mele – Executive Director
Andrew McIlwain- Non Exec Director        expected trajectory and ended short of the projected
Nicholas Revell – Non Exec Director       extension of the Copper lode. These holes will be
                                          extended with short diamond drill tails in the next drill
Company Secretary:
Melanie Leydin                            program to confirm downward continuation of the lodes.

Principal Place of Business               Blind Calf is located approximately 60km north west of
Suite 3, Level 4                          Condobolin in central NSW. The Company has recently
12-20 Flinders Lane
Melbourne VIC 3000                        completed an RC drilling program to test extensions to
Phone: +61 3 9671 3801                    the copper mineralization discovered at the Dunbars and
Fax: +61 3 9671 2347
email:        Blind Calf lodes (Refer to Figure 1). These lodes are two
                                          of several copper lodes identified at Kidman’s Blind Calf
Web:           prospect.
The current drill results provide further confirmation that the mineralization at Blind Calf displays
features that are consistent with major Cobar style deposits. These deposits are typically high grade
(>4% Cu) lenses with narrow width and strong vertical plunge lengths often exceeding 1km.
As well as drill testing the Dunbars and Blind Calf lodes, the Company also undertook drill testing
around E Bowketts shaft, located to the south of Blind Calf, and first-pass drilling on the nearby
Wilmatha tenement.

Wilmatha is located approximately 12km east of Blind Calf and 8 RC drill holes have been completed
in the current program. The drilling at Wilmatha targeted copper-silver-gold mineralization beneath
historic workings that had rock chip samples from nearby dumps assaying up to 7% copper, 13g/t
silver, and 0.5g/t gold.

Assay results for the remaining 11 drillholes from the Blind Calf and Wilmatha drill program are
expected to be received in the next few weeks.

The Company has recently completed an IP survey at the Blind Calf Prospect. The IP survey covers
an area of 1.5x1.2km containing all currently known copper lenses within the Blind Calf Prospect.
The data will be processed by a consultant geophysicist who will provide Kidman with a 3D inversion
model. This expected to be completed in 2 weeks.

Figure 1. Long Section – Blind Calf Prospect best drill intercepts

Note: KC43 & KC44 points are expected intersection depths on the Dunbar & Blind Calf Lodes. These drillholes will
require extending and will be completed with diamond tails in the Company’s next drill program.
Figure 2. Location Map for Kidman projects in Central NSW
Table 1. Recent Significant Drill Results

                    FROM           TO         INTERVAL
  HOLE ID                                                            Cu (%)           Ag (g/t)     Au (g/t)            Target
                     (m)           (m)           (m)
 KC33                 92           102              10                  2.8              3.8          0.2       Dunbar Lode
 including            92            97              5                  5.1               6.7          0.4
 KC35                109           110               1                  1.4                                     Blind Calf Lode
 KC36                141           148               8                 2.75              3.2         NSR        Blind Calf Lode
 including           143           147              4                  4.0               4.7         NSR
 KC37                 25            27               2                1.2                                       Dunbar Lode
 KC39                 45            46               1               1.15                                       E.Bowketts
 KC40                                                            Results await                                  Dunbar Lode
 KC41                                                            Results await                                  Wilmatha
 KC42                                                            Results await                                  Dunbar Lode
 KC43                                                            Results await                                  Blind Calf Lode
 KC44                                                            Results await                                  Dunbar Lode
 KC45                                                            Results await                                  Wilmatha
 KC46                                                            Results await                                  Wilmatha
 KC47                                                            Results await                                  Wilmatha
 KC48                                                            Results await                                  Mahgalore
 KC49                                                            Results await                                  Mahgalore
 KC50                                                            Results await                                  Mahgalore
 KC51                                                            Results await                                  Mahgalore
 Drillhole location and survey still subject to verification. Blind Calf assay intervals are riffle split on 1m intervals and
 assayed by ALS Minerals using 4-acid digestion followed by ICP-MS or ICP-AES

For more information about Kidman Resources please contact;

Shane Mele (Executive Director)                                        Media enquiries to;
or Martin Donohue                                                      Lahra Carey
                                                                       Media & Communications
Phone: 03-9671 3801                                                    Phone: 03-9685 3193 or 0414 632982
Email:                                     Email:

The information in this release that relates to exploration results and geological interpretation has been compiled by Mr Shane
Mele BSc, (Hons) M.Econ.Geol., MAusIMM. Mr Mele is a Member of the Australian Institute of Mining and Metallurgy and he
has sufficient experience with the style of mineralisation and types of deposits under consideration, and to the activities
undertaken, to qualify as a competent person as defined in the 2004 Edition of the "Australian Code for the Reporting of
Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) for reporting the exploration results. Mr Mele
consents to the inclusion in this report of the contained technical information in the form and context in which it appears.

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