Exploration Update
May 09 2005 - 8:55AM
UK Regulatory
RNS Number:0496M
Central China Goldfields PLC
09 May 2005
Central China Goldfields plc
START OF FIELD SEASON
LONDON - 9 May 2005 - Central China Goldfields plc (AIM-GGG, GGGW) advises that
field work, comprising of cleaning and extension of existing trenches and adits,
soil sampling and geophysical survey, in the Snow Mountain area commenced on
25th April 2005.
Exploration work has been contracted to Brigades 604, 606 and the Metallurgical
and Geological Exploration Investigation Institute of Sichuan Province, all of
which are subdivisions of the Sichuan Bureau of Metallurgy and Geological
Exploration (SBMGE).
Field work is supervised by Chris Ford, Central China Goldfields' Exploration
Manager, who is based in Chengdu, Sichuan Province. John Forrest, Finance
Director, and Dr. Jeffrey Malaihollo, Managing Director of Central China
Goldfields, have recently visited Chengdu and several of the exploration areas
to oversee the start of the exploration programme.
At Song Pan Guo, the SBMGE has defined an initial inferred resource of 204,000
ounces of gold at 3.1 - 5.0 g/t Au calculated to Chinese 333 and 334 standards,
of which 59,500 ounces of gold @ 5.23 g/t Au is compliant to Canadian 43-101
standard. Work here started with cleaning up of previous trenches and adits to
verify previous results. Extensions of several adits are planned to target new
mineralisation zones. Additional soil sampling will cover areas previously
unexplored.
At Shiu Niu Jia an initial inferred resource of 143,000 ounce of gold at 4.1 -
5.6 g/t Au has been identified to Chinese 333 and 334 standards (of which 18,500
ounces of gold @ 4.89 g/t Au is compliant to Canadian 43-101 standard). Work has
also started with cleaning up of trenches and adits. Geophysical work
(dipole-dipole Induced Polarisation survey), hitherto unused will be conducted
to identify potential new mineralised zones.
At Qiao Qiao Shang, the SBMGE has defined approximately 630,000 ounces of gold
at 1.0 - 3.0 g/t Au, of which 147,400 ounces of gold @ 2.21 g/t Au is compliant
to Canadian 43-101 standard. Trenches and adits will be cleaned and re-sampled.
A dipole-dipole Induced Polarisation survey will be conducted to identify any
extensions of the 6-1 ore body which averaged 3.1 g/t Au. Drilling will commence
should any suitable geophysical targets be recorded.
At Xiang Shu Jia, new trenches, over newly discovered gold zones (see
announcement of 7 April 2005) will be dug and a soil sample survey will be
extended to cover the anomalous trend over the rest of the licence area.
At Gao Jia Mo and Shang Peng Zi work will consist of cleaning up of old
trenches, digging of new trenches over previously discovered gold anomalies in
soil and extending the soil sample surveys.
The low-cost Induced Polarisation survey over known deposits as outlined above
will provide the Company with the opportunity of assessing the applicability of
this method as an exploration tool prior to drilling at other locations.
Regionally, an orientation Bulk Leach Extractable Gold (BLEG) survey on stream
sediment samples has started in the Shu Niu Jia area to test the effectiveness
of this method. If the orientation survey is successful, BLEG surveys will be
conducted over a large part of the 4600km2 under option.
In addition, a regional stream sediment survey and mineral occurrences database
has now been digitised and initial work using remote sensing data has been
completed. These techniques will greatly aid Central China Goldfields' efforts
to identify additional targets in both the southern Snow Mountain area and the
northern Maqu Fault area.
Chris Ford, Exploration Manager, notes that "Gold mineralisation, discovered by
our partners, in sedimentary rocks shows similarities to Carlin-style deposits
in particular, Getchell and Betze as noted by the USGS. There are a number of
very prospective structural trends which we are exploring. The aim of our
initial programme is to verify previous results, extend and up-grade selected
portions of these resources from Chinese standards to internationally acceptable
standards".
Dr. Jeffrey Malaihollo, Managing Director, comments "Central China Goldfields is
gaining a reputation as a serious and well-funded exploration company conducting
high-quality work in China. As a result we are now being presented with other
opportunities which we will study carefully".
For further information, please contact:
Central China Goldfields plc
Dr. Jeff Malaihollo
Tel: 020 7621 0200
Email: jeff@ccgoldfields.com
www.ccgoldfields.com
Ruegg & Co Limited
Brett Miller
Tel: 020 7584 3663
Phillip Securities (UK) Limited
Nick Bealer
Tel: 020 7553 8281
Victoria Thomas
Parkgreen Communications
Tel: 020 7493 3713
NOTES TO EDITORS
About Central China Goldfields plc
Central China Goldfields plc brings together a high level management team with a
large ground holding in Sichuan Province prospective for the discovery of large
Carlin-like gold deposits. The Company listed on 30 March 2005 and has
approximately #2.15m in cash. There are 52,245,000 shares outstanding.
Central China Goldfields plc's Exploration Manager, Chris Ford, is an
exploration geologist with over 25 years of international experience. He
obtained his BSc (Hons) from the University of Wales, Cardiff in Geology and
Mining Geology in 1974. He then graduated with an MSc in Mineral Exploration
from the Royal School of Mines (Imperial College) in 1978. Following this he
worked for Utah International in Saudi Arabia and Indonesia as project and
senior geologist. From 1982 - 1999 he worked with BHP Minerals in Chile, USA,
Mali, Ivory Coast, Hong Kong and London, rising from senior geologist to
Technical Manager for Northern Eurasia. Since 1999, prior to his appointment
with Central China Goldfields Plc, he consulted for various major and junior
exploration companies for project generation, exploration management, resource
calculation and bid preparation for consulting contracts. During his time as
Exploration Manager (Asia) between 1992 - 1998, he was responsible for BHP's
exploration in China, particularly on Carlin-type deposits.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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