Nimu Update
January 25 2007 - 7:22AM
UK Regulatory
Central China Goldfields plc
'GGG' or the 'Company'
NIMU PROJECT, TIBET
EIGHT PORPHYRY COPPER-MOLYBDENUM-(GOLD) TARGETS
NEW ASSAY RESULTS
DRILLING CONTRACT SIGNED
LONDON - 25 January 2007 - Central China Goldfields plc (AIM: GGG) reports new
assay results from the rock chip/float/grab sampling programme at the Nimu
Project in Tibet ("Nimu"). This programme was conducted in conjunction with
regional and detailed geological mapping which follows an earlier sampling
programme reported on 9 October 2006.
Mapping has identified eight target areas where high grade copper and
molybdenum samples are associated with supergene-enriched copper oxide outcrops
and phyllic-argillic altered host rocks. In some areas there are elevated
amounts of gold, lead and zinc.
As a result of these positive findings, the Company will focus its 2007
exploration effort on Nimu. To this end the Company has signed a drilling
contract with Sichuan Huafeng Drilling Co. Ltd to provide two drill rigs.
Drilling on two of the seven licence areas in Nimu will commence as soon as the
weather permits (most likely in April 2007). The first area to be drilled is
Tinggong which will be followed by Gangjiang in June 2007.
Jeff Malaihollo, Managing Director of Central China Goldfields, comments:
"These are very encouraging results which confirmed the presence of
copper-molybdenum-(gold) mineralisation in Nimu. In the six months since we
signed the joint venture, we have moved from prospective ground to identifying
eight target areas and now to a stage where we are ready to drill two of these
targets."
Highlights:
Four hundred and twelve new assay results of rock chip/float samples were taken
during geological and alteration mapping/sampling of the district and detailed
mapping at the Tinggong exploration licence area.
Mapping at 1:10,000 scale has identified eight target areas. Six targets have
been identified inside the contiguous exploration licence areas (ELs) of
Bairong, Ronggangmeng, Xiaqing, Gangjiang and Dubuqu, covering an area of 90.1
km2 (67% of Nimu), whereas two targets (Tinggong and Zongxun) are stand-alone
ELs.
The prospective ground in Tinggong was mapped at 1:2,000 scale, covering an
area of about 5.6 km2, which also encloses the geophysical survey area
(announced 22 November 2006). A total of 247 channel rock chip and grab samples
were collected, which returned copper and molybdenum assay values up to 5.6% Cu
and up to 0.07% Mo. The higher copper contents are from supergene-enriched
copper oxide outcrops with a total prospective area of about 2 km2.
Since the start of exploration in June 2006, a total of 646 rock samples have
returned copper and molybdenum values up to 5.6% Cu and up to 0.31% Mo. In
Gangjiang, Bairong and Ronggangmeng, sporadic gold is detected (up to 9.6 g/t
Au) in altered rocks and base metal-bearing quartz veins, which may also
contain elevated values of silver (up to >25 g/t Ag), molybdenum (up to 0.31%
Mo), zinc (up to 5.8% Zn) and lead (up to 4.4% Pb).
A drill contract with Sichuan Huafeng Drilling Co. Ltd. to provide two (2) LF90
drill rigs was signed on 22 January 2007. Scout drilling will commence at the
Tinggong exploration licence in April 2007 and at the Gangjiang exploration
licence in June 2007.
GEOLOGICAL DETAILS:
ASTER-aided 1:10,000 Scale Mapping and Sampling Programme
As reported in the 9 October 2006 news release, an Advanced Spaceborne Thermal
Emission & Reflection Radiometry (ASTER)-aided 1:10,000 scale geological and
alteration mapping has identified eight outcropping porphyry copper-molybdenum
targets, some of which also contain sporadic gold, silver, zinc and lead
credits. Further sampling and new assay values from rock chip samples are
described below.
Table 1 outlines the status and overall results of the ASTER-aided 1:10,000
scale geological and alteration mapping and sampling programme, as at end of
December 2006.
Table 1 Status of the Nimu project 1:10,000 scale mapping and sampling
programme.
Style(s) of Completed Assay Best assays
Prospect mineralisation ( Area Total result
Targets) (km2) sample in
(km2 (%) (Month) Cu % Mo% Au g/t Ag g/t Pb % Zn %
)
a) Contiguous Exploration Licence Areas
Supergene-enriched
porphyry Cu-Mo; August
Bairong Au-base metal 23.9 23.9 100 2006 36 36 1.3 0.31 1.2 25 3.3 1.9
veins (1.NW &
2.South Bairong)
Mapping
Porphyry Cu; skarn deferred
Ronggangmeng (3.NW Ronggangmeng 14.9 6.0 40 due to 3 3 0.1 0.0003 0.02 0.5 0.002 0.01
) snow
cover
Mapping
Porphyry Cu-Mo; deferred
Xiaqing Base metal veins ( 6.5 3.2 50 due to 10 10 0.9 0.14 0.04 87 0.6 0.2
4.North Xiaqing) snow
cover
Supergene-enriched
porphyry Cu-Mo; October
Gangjiang Au-base metal 29.9 29.9 100 2006 128 128 5.6 0.14 9.6 25 4.4 5.8
veins (5.NW
Gangjiang)
Dubuqu Porphyry Cu (6. 14.9 14.9 100 September 19 19 5.4 0.01 0.3 25 0.3 0.1
East Dubuqu) 2006
Sub-Total 90.1 77.9 86 196 196
b) Stand-alone Exploration Licence Areas
Supergene-enriched October
Tinggong porphyry Cu-Mo (7. 14.9 14.9 100 2006 48 48 1.4 0.11 0.7 3 0.2 0.2
SE Tinggong)
Supergene-enriched October
Zongxun porphyry Cu-Mo (8. 29.0 29.0 100 2006 21 21 2.1 0.13 0.02 12 0.01 0.02
Central Zongxun)
Sub-Total 43.9 43.9 100 69 69
TOTAL 134.0 121.8 91 265 265
Distribution of Porphyry Targets
Seven out of the eight porphyry copper-molybdenum targets in Table 1 are
strongly aligned along a NW trend for over 20 kilometres, suggesting a
deep-seated regional structural control on porphyry mineralisation in Nimu. The
remaining porphyry target, which lies about 5 kilometres northeast of this
alignment, also occurs along a regional conjugate fault structure.
Mineralisation Styles and Best Assay Values
Porphyry-style mineralisation is mainly hosted in altered quartz monzonite
porphyry and dykes. Supergene copper enrichment is also present, which is
spatially associated with phyllic-argillic altered quartz monzonite host rocks.
Since the start of exploration in June 2006, a total of 646 rock chip/grab/
float samples were collected, which yielded copper and molybdenum assay values
ranging from
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