Central China Goldfields PLC
Central China Goldfields PLC: DONG MAO HUO DRILL RESULTS
Central China Goldfields PLC / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Central China Goldfields plc ('GGG' or 'the Company') DONG MAO HUO DRILL RESULTS LONDON – 28 January 2008 – Central China Goldfields plc (AIM: GGG) is pleased to announce the final assay results from the infill diamond drill programme conducted last year at the Dong Mao Huo gold project in China. Jeff Malaihollo, Managing Director of Central China Goldfields, comments: 'This round of drilling has again increased the size of the deposit. There is clearly some high grade material within an envelope of low grade gold mineralisation in both the oxide and sulphide zones. Additional work is planned to define mineable zones through infill and step out drilling, as well as follow up higher grade intersections. We also plan to better define the relationship between the oxide and sulphide zones and to comprehend the effect of very high grade gold ('nugget effect') in the sulphide zone of the deposit.' Highlights: • The diamond drill programme has confirmed the presence of significant (>1 gramme per tonne gold ('g/t Au')) mineralisation for at least 330 metres of strikelength, an increase of 50 metres from the previous reverse circulation ('RC') drill programme. • Thirteen out of nineteen diamond drillholes contained intercepts averaging >0.3 g/t Au. Six drillholes returned >1 g/t Au with a maximum of 56 metres at 2.24 g/t Au. • In the sulphide zone, concentrated on the western side of the deposit, there are lenses of extremely high-grade gold-silver and base metal sulphides within a lower grade envelope of gold associated with hydrothermal breccia. For example, hole CH04 returned 1.9 metres at 37 g/t Au, 275 g/t silver ('Ag') and 2.75% copper ('Cu') within an intersection of 56 metres at 2.2 g/t Au, 16.2 g/t Ag and 0.35% Cu. • The oxide part, concentrated on the eastern side of the deposit, appears to be a wide zone of low grade gold (For example, 20 metres at 0.3 g/t Au in hole CH03, 28 metres at 0.56 g/t Au in hole CH05 and 18 metres at 0.5 g/t Au in hole CH15) with occasional higher grade intervals (e.g. 2.5 metres at 1.5 g/t Au in hole CH05 and 3.8 metres at 1 g/t Au in hole CH16). GEOLOGICAL DETAILS: Drilling Results: A diamond drill programme, consisting of 19 holes totaling 2,180 metres, was completed in December 2007. Its purpose was to infill and extend the coverage of the August 2007 RC drill programme and to investigate the controls of mineralisation. The diamond drill programme has increased the density of drilling at the main part of the deposit (West Hill of the Main Zone) from 80 metres to 40 metres. Thirteen out of nineteen diamond drillholes contained intercepts averaging >0.3 g/t Au. Six of them returned >1 g/t Au with a maximum of 56 metres at 2.24 g/t Au. The current programme has confirmed the presence of significant (>1 g/t Au) mineralisation for at least 330 metres of strikelength, an increase of 50 metres from the previous reverse circulation ('RC') drill programme (announced 24 September 2007 and 16 October 2007). The gold mineralisation at Dong Mao Huo is associated with a 800m long x 120m wide structurally emplaced rhyodacite breccia/dyke in a diorite-granite gneiss complex. The gold mineralisation is generally low grade but contains pods of higher grade material associated with base metal-rich hydrothermal breccias. The ore minerals are pyrite with minor amounts of chalcopyrite and arsenopyrite as disseminations and breccia fills. Deep weathering has oxidised the mineralised zone down to 60 to 80 metres thus making the oxidised portion of the deposit potentially amenable to recovery by a low cost heap leach process. The oxide gold appears to be concentrated on the eastern part of the deposit whereas the sulphide zone is concentrated on the western side of the deposit. Best mineralised intercepts from the new assay results are as follows: • CH04 returned 56 metres at 2.24 g/t Au including 1.9 metres at 36.94 g/t Au, 13.3 metres at 2.87 g/t Au and 2 metres at 8.11 g/t Au. This is a wider zone, but slightly lower grade compared to the result announced on 7 December 2007 (45.7 metres at 2.71 g/t gold, 0.43% Cu and 19.82 g/t Ag). • CH05 returned 28 metres at 0.56 g/t Au including 2.5 metres at 1.51 g/t Au (as opposed to 10.7 metres at 0.63 g/t Au announced on 28 November 2007). • CH07 returned 14.1 metres at 0.57 g/t Au including 5 metres at 0.92 g/t Au and 1.7 metres at 1.16 g/t Au. • CH13 returned 22 metres at 0.41 g/t Au including 5 metres at 1.03 g/t Au. • CH15 returned 25 metres at 0.49 g/t Au. The mineralised intercepts at holes CH03, CH05, CH09, CH15 and CH16 are in the weathered oxide zone while those at holes CH02, CH04, CH13, CH19 and partly at hole CH07 are in the unweathered sulphide zone. There are no significant results from holes RC12, RC14, RC15, CH01, CH17 and CH18. Sampling and Analytical Details Drill core samples (about 75mm core diameter size) are split into half by a diamond saw cutting machine at the project site. The half split samples, each weighing about 1.5-1.9 kilograms, are collected at an average interval of 1 metre. The samples were processed and analysed by Intertek Testing Service Ltd. Shanghai at their Beijing office. Sample preparation involves crushing and pulverisation of the subsamples to minus 75 microns. Gold ('Au') was analysed by 50 grammes fire assay with AAS finish and 35 other elements by inductively coupled plasma spectrometry ('ICP'). Three elements are reported here: gold (‘Au'), silver ('Ag') and copper ('Cu'). The detection limits for Au, Ag and Cu are 0.005 g/t, 0.1 parts per million ('ppm') and 1 ppm respectively. Routine international-standard quality assurance/quality control ('QA/QC') procedures were used by Intertek. Technical information in the Company news releases has been reviewed and approved by Ciceron 'Jun' Angeles (MSc. FAusIMM, CPGeo) the Company’s Exploration Manager. He is qualified as a Competent Person under the Code for the Reporting Mineral Exploration Results, Mineral Resources and Mineral Reserves, 2004 ('The Reporting Code') prepared by the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. For Further Information: Central China Goldfields plc Dr. Jeffrey Malaihollo Tel: 020 7621 0200 Email: info@ccgoldfields.com www.ccgoldfields.com Hanson Westhouse Limited Louis Castro / Anita Ghanekar Tel: 020 7601 6100 King & Shaxson Capital Limited Nick Bealer Tel: 020 7426 5986 28.01.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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