Central China Goldfields PLC
Central China Goldfields PLC: TRENCHING RESULTS GANGJIANG AND BAIRONG, NIMU 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 ‘GGG’ or ‘The Company’ TRENCHING RESULTS GANGJIANG AND BAIRONG, NIMU PROJECT LONDON – 30 October 2007 – Central China Goldfields plc (AIM: GGG) is pleased to report recent results on the trenching activities at the Gangjiang and Bairong exploration licence areas, Nimu Copper-Molybdenum Project ('Nimu'). Highlights: • Mineralisation in the Guqing area of Gangjiang extends over a 400 m x 150 m area • Two new areas of mineralisation discovered in the Bairong Exploration Licence, namely Zongqiu and Gusiru areas • Surface copper oxide mineralisation in Zongqiu extends over a 600 m x 250 m area • Guqing and Gelong (both in Gangjiang Licence) and Zongqiu (in Bairong Licence) may be a single continuous area of mineralisation • Higher grade mineralisation appears to be at the porphyry contact Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments: 'These results are significant for two reasons. Firstly we now have observed that higher grade mineralisation is always in quartz monzonite wrapped around the later quartz monzonite-rhyodacite porphyries. These include holes GJ07 and GJ08 and the trenches at Guqing and holes GJ05 and GJ06 at Gelong. Secondly we found two new areas of mineralisation at the Bairong exploration licence area: Zongqiu and Gusiru. There is now compelling evidence that the Guqing – Gelong and Zongqiu are continuous areas of mineralisation, an area measuring over 2,000 metres long and 100-200 metres wide. This now represents a significance area of large tonnage, low grade Cu-Mo mineralisation with distinct areas of high grade mineralisation such as Guqing.' Trenching Highlights: Guqing area, Gangjiang • GJT03: 22.7m at 0.42% Cu and 0.038% Mo, followed by 79.3m at 0.33% Cu and 0.007% Mo. This is a longer area of mineralisation compared to that reported on 30 August 2007. • GJT07: 38.4m at 0.24% Cu and 0.009% Mo • GJT11: 32.3m at 0.16% Cu and 0.024% Mo Zongqiu area, Bairong • BRT01: 10m at 0.76% Cu • BRT02: 86m at 0.17% Cu, and 36m at 0.13% Cu Gusiru area, Bairong • BRT07: 4m at 0.16% Cu • BRT11: 6m at 0.29% Cu and 5.7m at 0.19% Cu • BRT12: 4.7m at 0.24% Cu GEOLOGICAL DETAILS: Sampling and Analytical Details The trench samples were processed and analysed by Intertek Testing Service Ltd. Shanghai. Sample preparation is done by the Intertek-Kunming branch office, China. Chemical analysis is done by Intertek-Beijing office. Copper, silver, lead and zinc were analysed by atomic absorption spectrometry (AAS), gold by 30 grammes fire assay with AAS finish and molybdenum, arsenic and antimony were analysed by x-ray fluorescence (XRF). Routine international-standard QA/QC procedures were used by Intertek. Two of the eight elements analysed are reported here: copper (Cu) and molybdenum (Mo). The detection limits for Cu and Mo are 2 parts per million (ppm) and 1 ppm, respectively. Guqing The Guqing area is underlain primarily by quartz monzonite intruded by rhyodacite stock/dykes. Significant copper and molybdenum mineralisation occurs in zones of moderate to intense phyllic (clay – sericite) alteration within a 100-200 m wide contact zone between the quartz monzonite and later quartz monzonite to rhyodacite porphyries. Mineralisation at hole GJ08 consists of quartz - calcite veinlets with blebs of chalcopyrite and molybdenite and minor pyrite and locally magnetite. Trenches GJT03 to GJT12 aim to follow up the significant copper and molybdenum mineralisation discovered in holes GJ08 and GJ07 (reported on 30 August 2007). Mineralisation in the trenches has been intersected in a 400 m x 150 m area. Zongqiu The Zongqiu area is located at the southeast portion of the Bairong exploration licence The area is underlain by quartz monzonite porphyry intruded by rhyodacite porphyry dykes. The main alteration is weak potassic with overprints of phyllic alteration. Copper mineralisation mainly occurs as malachite and minor neotocite in an area measuring 600 m x 250 m. Quartz stockwork veinlets have been observed between trenches BRT01 and BRT03. Gusiru The Gusiru prospect is located at the northwest part of the Bairong exploration license. The prospect has been drill tested in 2005 by our Chinese joint venture partner. Results of the drilling include 209m at 0.20% Cu and 0.014% Mo and 118m at 0.19% Cu and 0.034% Mo. The area is underlain by quartz monzonite intruded by rhyodacite and quartz monzonite porphyry stock/dykes. Alteration is weak potassic overprinted by strong phyllic alteration. Chalcopyrite occurs as dissemination and fracture filling. Additional Work Additional trenching in Bairong is on going. A geophysical survey over Bairong and the northern portion of Gangjiang consisting of Induced Polarisaton/Resistivity ('IP/RES') and ground magnetics (77.25 line kilometers) have recently been completed and the results are being processed. These will help us to delineate more drill targets in Gangjiang and Bairong. 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, please contact: 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 Smithfield Consultants Neil Boom / Rupert Trefgarne Tel: 020 7360 4900 King & Shaxson Capital Limited Nick Bealer Tel: 020 7426 5986 30.10.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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