Drilling Report
November 30 2006 - 5:14AM
UK Regulatory
Central China Goldfields plc
`GGG' or the`Company'
London November 30, 2006
Central China Goldfields plc had entered into an agreement to earn 50% of all
of Majestic Gold Corp.'s interests in China, including the Song Jiaguo Project,
with an option to acquire the remaining 50%. The Company is pleased to report
that Majestic Gold Corp. has released the following announcement, the full text
of which is reproduced below.
"MAJESTIC GOLD RECEIVES DRILLING RESULTS FROM SONG JIAGUO
November 29, 2006
Majestic Gold Corp. ("Majestic") is pleased to announce drill results from the
next five diamond drill holes of its nine-hole surface core drilling 2006
exploration program at the Song Jiaguo Project located in eastern Shandong
Province, China. Majestic's program is designed to test high grade gold bearing
structures adjacent to a broad zone of potentially bulk-mineable gold
mineralization was the subject of an independent resource estimate, released on
April 25, 2006. The 3,700 metre surface core drill program is now complete,
while an additional 18-hole underground drill program is currently underway.
Highlights of the recent results include:
High Grade Targets:
Hole SJ06-29:
* Aggregate of intervals of 28 metres of 2.36 grams/tonne gold, including:
+ 1 m of 6.91 grams/tonne gold; and
+ 12 m of 1.64 grams/tonne gold, including
+
1 m of 7.88 grams/tonne gold; and
+ 1.4 m of 6.02 grams/tonne gold; and
+ 5 m of 2.65 grams/tonne gold, including
+
1 m of 9.18 grams/tonne gold
Hole SJ06-31:
* Aggregate of intervals of 7 metres of 4.67 grams/tonne gold including:
* 1 m of 13.02 grams/tonne gold; and
* 1 m of 4.80 grams/tonne gold
Hole SJ06-32:
* Aggregate of intervals of 32 metres of 2.83 grams/tonne gold including:
* 31 m of 2.87 grams/tonne gold, including
*
+ 1 m of 21.00 grams/tonne gold; and
+ 1 m of 30.24 grams/tonne gold
Hole SJ06-33:
* Aggregate of intervals of 3.8 metres of 2.52 grams/tonne gold including:
* 1 m of 4.27 grams/tonne gold
Hole SJ06-35:
* Aggregate of intervals of 7.0 metres of 9.02 grams/tonne gold, including:
*
+ 2 m of 6.10 grams/tonne gold; and
+ 2 m of 21.63 grams/tonne gold, including
+
1 m of 41.51 grams/tonne gold
Bulk Mineable Targets:
Hole SJ06-29:
* 56.0 m of 0.88 grams/tonne gold, and
* 13.0 m of 1.29 grams/tonne gold, within
*
+ an aggregate of intervals of 130.4 m of 0.69 grams/tonne gold
Hole SJ06-31:
* 8.0 m of 0.87 grams/tonne gold, within
*
+ an aggregate of intervals of 71.2 m of 0.68 grams/tonne gold
Hole SJ06-32:
* 73.0 m of 1.35 grams/tonne gold
Hole SJ06-33:
* 11.3 m of 0.66 grams/tonne gold
*
+ an aggregate of intervals of 37.8 m of 0.55 grams/tonne gold
Hole SJ06-35:
* 54.0 m of 1.26 grams/tonne gold, within
* an aggregate of intervals of 61.0 m of 1.24 grams/tonne gold
Assay results for these five holes are compiled in the accompanying Table 1
(see appendix A or visit www.majesticgold.net). Hole SJ06-34 contained no
significant intercepts.
These holes tested approximately 260 metres of strike length in the central
portion of the mineralized zone that has been traced for approximately 600
metres. They were designed to assess the area between previously tested holes
SJ06-27, 28 and 30 (results of which were announced on August 31, 2006) and
another area where underground cross cut samples have been taken.
"These holes along with three previously reported and the underground channel
sampling continue to demonstrate the strength and continuity of the gold system
at Song Jiaguo," said John Zimmerman, Majestic's head of exploration. "The
results support our belief that we can develop both a high grade underground
mine and an open pit for the lower grade material."
Majestic has commenced a 1,200 metre underground drill program to further
define the resource at Song Jiaguo. The program will consist of 18 drill holes
to test additional targets and areas of insufficient data in the resource model
announced in April of 2006. Channel sampling of the walls of Levels 1 and 2 is
also being conducted at this time.
These results, combined with channel samples of Levels 3 and 4 along with the
surface and underground drill results, will provide comprehensive data from
approximately 600 metres of strike length and extending from surface to over
400 metres below. The mineralization is related to at least seven sub-parallel
"high grade" northeast trending (045� to 075�), southeast dipping structures
(45� to 85 �).
At Song Jiagou Majestic's Chinese partner, Muping Mining, is currently
producing 120 tonnes per day from four underground levels and local villagers
were previously mining a similar amount from open pits and shallower
underground workings. Majestic's future plans are to transfer the existing
operations into the joint venture company and, once better controls on the high
grade structures are established, increase the size and scope of the
production.
All core from the 2006 drill program is logged, split, stored and shipped under
the supervision of Neil Willoughby, P. Geo., Majestic's Qualified Person.
Samples were stored in Majestic's local office and packaged and freighted
directly, to SGS Tianjin Geochem Lab, China, for analysis. The samples were
assayed using a standard six element ICP package and gold analysis was
conducted by standard fire assay.
This news release was reviewed by Qualified Persons as defined by National
Instrument 43-101, including Rod Husband, P. Geo., who has prepared the
technical information contained herein."
For further information, please contact:
Central China Goldfields plc Hanson Westhouse LLP
Dr. Jeffrey Malaihollo Anita Ghanekar / Cailey Barker
Tel: 020 7621 0200 Tel: 020 7601 6100
Email: info@ccgoldfields.com
www.ccgoldfields.com
Gresham PR Ltd King & Shaxson Capital Limited
Neil Boom Nick Bealer
Tel: 020 7404 9000 Tel: 020 7426 5986
APPENDIX A
Table 1: Song Jiagou dill results:
DDH SJ06-29 High Grade Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ06-29 73.60 74.60 1.0 6.91
SJ06-29 275.60 277.60 2.0 2.27
SJ06-29 296.60 297.60 1.0 1.75
SJ06-29 363.60 365.60 2.0 2.84
SJ06-29 375.60 376.60 1.0 1.88
SJ06-29 379.60 391.60 12.0 1.64
Includes 390.60 391.60 1.0 7.88
SJ06-29 399.60 402.60 3.0 3.44
Includes 401.20 402.60 1.4 6.02
SJ06-29 444.00 445.00 1.0 1.96
SJ06-29 452.00 457.00 5.0 2.65
Includes 455.00 456.00 1.0 9.18
Aggregate 28.0 2.36
DDH SJ06-29 Bulk Mineable Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ06-29 274.60 280.60 6.0 0.88
SJ06-29 291.60 297.60 6.0 0.73
SJ06-29 346.60 457.00 110.4 0.69
Includes 346.60 402.60 56.0 0.88
Includes 444.00 457.00 13.0 1.29
SJ06-29 420.00 428.00 8.0 0.50
Aggregate 130.4 0.69
DDH SJ06-31 High Grade Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ06-31 119.40 120.40 1.0 13.02
SJ06-31 141.60 142.60 1.0 2.25
SJ06-31 157.60 158.60 1.0 2.57
SJ06-31 191.60 192.60 1.0 3.82
SJ06-31 220.60 221.60 1.0 4.80
SJ06-31 294.05 295.05 1.0 3.50
SJ06-31 328.05 329.05 1.0 2.74
Aggregate 7 4.67
DDH SJ06-31 Bulk Mineable Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ06-31 119.40 162.60 43.2 0.59
Includes 157.60 162.60 5.0 0.96
SJ06-31 191.60 200.60 9.0 0.66
SJ06-31 213.60 221.60 8.0 0.87
SJ06-31 289.05 295.05 6.0 0.90
Aggregate 71.2 0.68
DDH SJ06-32 High Grade Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ06-32 231.00 232.00 1.0 1.52
SJ06-32 271.00 302.00 31.0 2.87
Includes 271.00 272.00 1.0 21.00
Includes 273.00 276.00 3.0 7.65
Includes 295.00 296.00 1.0 30.24
Aggregate 32 2.83
DDH SJ06-32 Bulk Mineable Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ06-32 230.00 303.00 73.0 1.35
DDH SJ06-33 High Grade Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ06-33 23.00 24.00 1.0 1.83
SJ06-33 176.37 176.87 0.5 1.51
SJ06-33 275.00 276.00 1.0 4.27
SJ06-33 300.50 301.75 1.3 2.09
Aggregate 3.8 2.52
DDH SJ06-33 Bulk Mineable Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ06-33 270.00 281.30 11.3 0.66
SJ06-33 300.50 327.00 26.5 0.51
Aggregate 37.8 0.55
DDH SJ06-35 High Grade Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ05-35 58.00 59.00 1.0 3.31
SJ05-35 241.00 242.00 1.0 2.84
SJ05-35 292.00 293.00 1.0 1.51
SJ05-35 335.00 337.00 2.0 6.10
SJ05-35 351.00 353.00 2.0 21.63
Includes 352.00 353.00 1.0 41.51
Aggregate 7.0 9.02
DDH SJ06-35 Bulk Mineable Intersections
From (m) To (m) Intercept (m) Au (g/t)
SJ05-35 56.00 63.00 7.0 0.76
SJ05-35 332.00 386.00 54.0 1.26
Aggregate 61 1.24
END
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