Central China Goldfields PLC
Central China Goldfields PLC: ENCOURAGING INITIAL RESULTS FROM REVERSE CIRCULATION DRILLING AT DONG MAO HUO GOLD PROJECT
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 ENCOURAGING INITIAL RESULTS FROM REVERSE CIRCULATION DRILLING AT DONG MAO HUO GOLD PROJECT LONDON – 24 September 2007 – Central China Goldfields plc (AIM: GGG) is pleased to announce initial assay results from the reverse circulation ('RC') drilling program at the Dong Mao Huo project in the Inner Mongolia Autonomous Region. Highlights: - An infill reverse circulation ('RC') drilling program totaling 15 holes at 1,801m was completed in mid-August 2007. - Gold assay results of the first five holes have confirmed the presence of significant (>1 gramme per tonne gold ('g/t Au')) mineralisation for at least 160 metres of strikelength. - At 0.35 g/t Au cut-off, hole DMHRC05 intersected 2.30 g/t Au over 13 metres from 36 metres downhole, hole DMHRC02 intersected 1.21 g/t Au over 13 metres from 22 metres downhole, hole DMHRC03 intersected 1.02 g/t over 9 metres from 53 metres downhole and hole DMHRC04 intersected 1.66 g/t Au over 3 metres from 5 metres downhole. - Deep weathering has oxidised the mineralised zones down to 60 - 80 metres depth, thus making the gold potentially amenable to recovery by heap leach. Jeff Malaihollo, Managing Director of Central China Goldfields, comments: 'These initial drilling results confirm the presence of gold mineralisation in oxide form although the geological control on the mineralisation needs further clarification. We can see that there are higher grade intersections within an envelope of wider but lower grade material. The awaited assay results of the other 10 RC holes will help build a better understanding of the mineralisation in Dong Mao Huo.' GEOLOGICAL DETAILS: Sampling and Analytical Details RC drilling uses 139.7mm sized drill rods producing about 25-30 kilograms of crushed rock every one metre of drilling with largest fragment size at about 1 centimetre. Samples were taken every one metre and split down to about 3 kilograms using a Jones sample splitter at the drillsite. The rest of the sample rejects are stored for future use. Sample preparation and chemical analysis were done by Intertek Testing Service Ltd. Shanghai at Beijing. Sample preparation involves crushing and pulverisation of the subsamples to minus 75 microns. Gold was analysed by 50 grammes fire assay with AAS finish and 34 other elements by inductively coupled plasma-optical emission spectroscopy (ICP-OES). Three of the 35 elements are reported here: gold (Au), silver (Ag) and copper (Cu). The detection limits for Au, Ag and Cu are 0.005, 0.1 and 1 part per million (ppm) respectively. Routine international-standard quality assurance/quality control (QA/QC) procedures were adopted. Duplicate sampling was done every tenth sample at the drillsite and Intertek utilised internal standard procedures for standard, blank and replicate sample testing. Drilling Results Details: A reverse circulation ('RC') drill program was undertaken by Drillcorp Group from 1 to 12 August 2007 to confirm the known gold mineralisation in the 'Main Zone' of the Dong Mao Huo Project as well as to test the Induced Polarisation ('IP') chargeability anomalies. The program consisted of 15 holes totaling 1,801 metres. Thirteen infill holes were drilled to confirm the gold mineralisation delineated by our local partner Shandong Zhengyuan Geology & Resources Co. Ltd. Two scout holes were also drilled, one testing the western extension of the IP anomaly at the Main Zone underneath the alluvium while another one tested an IP anomaly 500 metres southeast from the Main Zone. 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 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 – 80 metres thus making the oxidised gold potentially amenable to recovery by a low cost heap leach process. Gold assay results and some partial results of silver ('Ag') and copper ('Cu') for the first 5 holes have been received. Significant gold mineralisation at >1 g/t Au has been confirmed for at least 160 metres of strike length. Holes DMHRC01 and DMHRC02, DMHRC03 and DMHRC04, and DMHRC05 and DMHRC06 are paired holes along north-south drill sections which are approximately 80 meters apart. At 0.35 g/t Au cut-off, hole DMHRC02 intersected 1.21 g/t Au over 13 metres from 22 metres downhole, hole DMHRC03 intersected 1.02 g/t over 9 metres from 53 metres downhole, hole DMHRC04 intersected 1.66 g/t Au over 3 metres from 5 metres downhole, and hole DMHRC05 intersected 0.9 g/t over 39 metres including 2.30 g/t Au over 13 metres from 36 metres downhole. 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 Anita Ghanekar / Phil Swinfen Tel: 020 7601 6100 Smithfield Consultants Neil Boom / Rupert Trefgarne Tel: 020 7360 4900 King & Shaxson Capital Limited Nick Bealer Tel: 020 7426 5986 24.09.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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