Jilbey Gold Exploration Ltd.

Jilbey Gold Exploration Ltd.

January 07, 2005 08:00 ET

Jilbey Cuts 10 Meters of 5.10 g/t Gold and Confirms New Gold Zone on the Bissa Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: JILBEY GOLD EXPLORATION LTD.

TSX VENTURE SYMBOL: JLB

JANUARY 7, 2005 - 08:00 ET

Jilbey Cuts 10 Meters of 5.10 g/t Gold and Confirms
New Gold Zone on the Bissa Project

BEDFORD, NOVA SCOTIA--(CCNMatthews - Jan. 7, 2005) - Jilbey Gold
Exploration Ltd. (TSX Venture:JLB) ("Jilbey") is pleased to announce
significant drilling results in the Bissa Southwest area of the Bissa
property in Burkina Faso, West Africa. RC drill hole ZBR-007, drilled
approximately 20 meters under and parallel to previously announced Drill
Hole ZBR-002 (which intersected 34 meters of 6.13g/t Au) has intersected
two zones of significant gold mineralization. The first interval,
assayed 2.25 g/t gold over 17 meters including 2.64 g/t gold over 14
meters. A second zone intercepted 2.64 g/t gold over 23 meters including
5.10 g/t gold over 10 meters. The hole ended in mineralization. In
addition, RAB drilling 80 meters west of ZBR-007 has confirmed a new
parallel zone of gold mineralization approximately 100 meters to the
north as evidenced by intercepts including 5.91 g/t gold over 8 meters,
9.09 g/t over 10 meters and 5.53 g/t over 4 meters. For a map showing
the above locations, please visit www.jilbey.com and go to the press
release section.

Hole ZBR-007, sited in the Bissa SW area located approximately 800
meters southwest of the Bissa Hill deposit, is the first of five holes
completed on one of several gold geochemical anomalies in the Bissa SW
area. This portion of the program was designed to confirm the continuity
of mineralization in this new zone of mineralization in the Bissa
deposit extension. Jilbey anticipates final assay information on the
remaining four holes shortly and will release this information as soon
as possible together with a map showing hole locations and their
relationship to the Bissa Hill deposit for which a resource estimate has
been released (see News Release dated October 13, 2004).

Detailed results of hole ZBR-007 are presented in Table 1 below.



Table 1: Hole ZBR-007 Drill Results
---------------------------------------------------
HOLE ID FROM TO INTERVAL GOLD RESULTS
---------------------------------------------------
(m) (m) (m) (g/t)
---------------------------------------------------
ZBR-007 32 49 17 2.25
---------------------------------------------------
including 33 40 7 3.19
---------------------------------------------------
64 87 23 2.64
---------------------------------------------------
including 66 76 10 5.10
---------------------------------------------------
Note: Hole ended at a depth of 87 meters assaying 1.07 g/t


A 300 meter long NW-SE trending line of RAB holes was drilled on grid
line 8940E, 80 meters west of hole ZBR-007 described above to test the
west extension of this mineralization. This line of RAB holes in several
locations intersected significant grade intercepts including 5.91 g/t
gold over 8 meters, 9.09 g/t over 10 meters, 5.53 g/t over 4 meters and
1.14 over 12 meters as shown in Table 2 below. Holes ZBB-216, 217 and
218 of this RAB line shows the continuation of the mineralized zone
identified in hole ZBR-007. Holes ZBB-206, 207 and 208 have confirmed
the continuation of a new parallel zone of gold mineralization
originally identified in RAB holes ZBB-053 and 054 (see Press Release
dated November 29, 2004) and lies approximately 100 meters north of the
zone outlined in RC hole ZBR-007.



Table 2: RAB Results from Gridline 8940E
---------------------------------------------------
HOLE ID FROM TO INTERVAL GOLD RESULTS
---------------------------------------------------
(m) (m) (m) (g/t)
---------------------------------------------------
ZBB-206 4 26 22 0.41
---------------------------------------------------
ZBB-206 26 34 8 5.91
---------------------------------------------------
ZBB-207 0 18 18 0.66
---------------------------------------------------
ZBB-207 22 32 10 9.09
---------------------------------------------------
ZBB-207 32 40 8 1.13
---------------------------------------------------
ZBB-208 0 22 22 0.36
---------------------------------------------------
ZBB-208 22 28 6 3.84
---------------------------------------------------
including 22 26 4 5.53
---------------------------------------------------
ZBB-214 0 40 40 0.87
---------------------------------------------------
including 10 18 8 2.52
---------------------------------------------------
ZBB-216 0 40 40 0.84
---------------------------------------------------
including 18 28 10 2.39
---------------------------------------------------
ZBB-217 0 10 10 0.45
---------------------------------------------------
ZBB-217 10 16 6 2.66
---------------------------------------------------
ZBB-217 16 24 8 0.27
---------------------------------------------------
ZBB-217 24 36 12 1.14
---------------------------------------------------
ZBB-218 0 18 18 0.79
---------------------------------------------------
including 12 18 6 1.59
---------------------------------------------------


In December of 2004, four additional RC holes were completed in the area
of ZBR-002 on one of several gold geochemical anomalies in the area of
Bissa SW. Two RC holes were also completed in the Liliga area to test
the mineralization located in trenching previously reported in a press
release dated November 29, 2004. On the Kindo property adjacent to the
north of the Bissa project, seven RC holes were completed to test the
strike and depth extensions of large artisinal mining operations that
occur on that permit. The results of this drilling will be released as
soon as data is available. Maps of the locations of these areas are
located at www.jilbey.com in the project highlights section.

Sampling of the RC drilling is completed over one-metre intervals.
Approximately 20 kilograms of cuttings are recovered for each interval.
The RC chips are logged and bagged at the drill site. From each original
sample, a sub-sample of 2 kg is produced, using a single-stage Jones
riffle splitter and repeated passes with the final sub-sample being
systematically obtained from the right side of the splitter. Samples
obtained are placed in individual plastic bags. All sampling tools are
cleaned between samples. The RC rejects are stored at Jilbey's guarded
camp. Preparation and gold analysis of the drilling samples are
performed at Abilab West Africa S.A.R.L. in Bamako, Mali. Samples are
analyzed for gold by fire assay on 50g sub-sample with an atomic
absorptions spectroscopy (AAS) finish. A gravimetric finish is performed
systematically on samples containing more than 5 g/t Au. In addition to
the usual internal laboratory Quality Assurance and Quality Control
("QA/QC") data, pulp sample grain size data are monitored by Jilbey
staff to insure proper pulverization. During the current drilling
campaign, Jilbey has implemented a comprehensive QA/QC program which
includes inserting a minimum of 10% control samples (5% blanks and 5%
standards) in the sample stream. Blind repeat assaying at the original
laboratory and check assaying at a North American accredited laboratory
are planed at the end of the drilling campaign. Greg Isenor P.Geo.,
President and CEO of Jilbey Gold Exploration Ltd., a qualified person as
defined under the Canadian Securities Administrators' National
Instrument 43-101, is responsible for program supervision.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Jilbey Gold Exploration Ltd.
    Gregory Isenor, P Geo
    President and CEO
    (902) 832-5555
    (902) 832-2223 (FAX)
    or
    Jilbey Gold Exploration Ltd.
    Daniel Whittaker
    VP and CFO
    (902) 832-5555
    (902) 832-2223 (FAX)
    or
    Jilbey Gold Exploration Ltd.
    Dan Koyich
    Investor Relations
    (403) 693-8012
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.