Assay Results
February 12 2007 - 2:00AM
UK Regulatory
Central China Goldfields plc
`GGG' or the `Company'
NEW ASSAY RESULTS FROM TRENCHING
GANGJIANG EXPLORATION LICENCE
NIMU PROJECT, TIBET
LONDON - 12 February 2007 - Central China Goldfields plc (AIM: GGG)
is pleased to announce new assay results from the trenching programme at the
Gangjiang exploration licence area, one of seven Exploration Licences at the
Nimu Project, Tibet ("Nimu").
The on-going trenching programme by GGG aims to verify previous
trenching results produced by the local partner, the Sichuan Institute of
Metallurgical Geological Exploration ("SIMGE"). The purpose of the programme
is to establish the extent of surface mineralisation within the eight
identified porphyry copper-molybdenum-(gold) targets reported on 9 October
2006 and 25 January 2007. SIMGE is part of the Sichuan Bureau of Metallurgy
and Geological Exploration, the Company's partner at the Snow Mountain
Project.
Jeff Malaihollo, Managing Director of Central China Goldfields, comments:
"The results at Gangjiang are very encouraging. The new assay data
form trenching confirms the lateral extent of anomalous copper, molybdenum and
gold values indicated in the earlier work. These encouraging results highlight
the potential of finding a large copper oxide deposit in Gangjiang. Drilling
in Gangjiang is planned in June 2007 when the snow has melted. The first area
to be drilled in Nimu is Tinggong, which is at lower altitude and where work
can commence in April, weather permitting."
Highlights:
- New assay results from 15 new trenches (560 samples) confirm
shallow porphyry copper-molybdenum-(gold) mineralisation at Gangjiang, as
indicated by earlier geological and geophysical studies
- The porphyry copper-molybdenum mineralisation covers two
mineralised zones: the Main Zone (2.4 km2) and the West Zone (0.7 km2).
Both Zones potentially host near surface supergene copper oxides and
sulphides and hypogene (original) copper sulphide and molybdenum
mineralisation at depth
- Nine of the 15 trenches returned anomalous copper, molybdenum and
gold mineralisation, covering an area of about 1.4 km2
- The significant results includes:
60 metres @ 1.31% Cu and 0.012% Mo including 46 metres @ 1.67 % Cu,
38 metres @ 0.42% Cu,
50 metres @ 0.35% Cu,
57.5 metres @ 0.20% Cu,
44 metres @ 0.16% Cu and
132 metres @ 0.12% Cu
- The outcropping porphyry system in the West Zone is spatially
associated with an area of intensely altered quartz monzonite with almost
nil copper but anomalous molybdenum and gold. This area is interpreted to
be a leached cap. Altogether, the observed features highlight the
potential of finding a large copper oxide deposit
- Mesothermal quartz veins, with sporadic gold values, overprint the
Gangjiang Main Zone
GEOLOGICAL DETAILS:
Sampling and Analytical Details
A trenching programme was conducted from September to October 2006
at the Gangjiang exploration licence area to check the previous trench results
of the local partner, SIMGE, and to quantify the extent of surface grades of
the porphyry copper-molybdenum system(s), as earlier defined by GGG
geologists. Fifteen trenches were completed, with a total meterage of 1,159
metres and 560 samples. Four were re-sampling of previous trenches aligned in
a northwest direction while eleven are new trenches dug along the
northeast-directed grid lines of the geophysical survey.
The trench dimension is about 1 metre wide by 1 to 1.5 metres deep.
Channel samples, about 8 centimeres wide by 3 centimetres deep, were taken at
2 metres intervals along the trenches and about 20 to 30 centimetres from the
trench floor using a chisel, a hammer and a canvass sheet to catch all the
broken rocks. Each sample weighed between 2 to 3 kilogrammes. A duplicate
sample was taken, as close as possible to the original sample site, after
every 10th sample.
The channel samples were analysed by SGS geochemical laboratory in
Tianjin, China. Three of the six elements analysed are reported here: gold
(Au) was analysed by 50 gramme fire assay with atomic absorption spectrometry
(AAS) finish, and copper (Cu) and molybdenum (Mo) by AAS. The lower detection
limits in parts per million (ppm) for Au, Cu and Mo are 0.01, 2 and 5,
respectively.
Encouraging Assay Results from Trenching
Recently completed semi-detailed geological mapping/sampling by GGG
geologists and IP/resistivity and ground magnetic surveys by competent Chinese
contractors had delineated a promising area in the NW section of Gangjiang.
This area was the focus of the trenching programme in Gangjiang.
We subdivided the prospective area in Gangjiang into a Main Zone
(2.4 km2) and a West Zone (0.7 km2). Both Zones potentially host supergene
copper oxides and sulphides at the near surface and hypogene copper sulphide
and molybdenum mineralisation at depth.
All mineralised trench channel samples (i.e. samples with > 0.1% Cu
and/or > 0.01% Mo and/or > 0.1 gpt Au) in the Main Zone are shown in Table 1.
Table 1 Summary of geochemically anomalous intervals intersected by trenching
at the Main Zone of Gangjiang.
Trench ID Length (m) Composite Assay Data
Mineralised Cu % Mo % Au g/t
Interval (m)
GTC-190 60.0 60.0 1.31 0.012 0.01
(including) 46.0 1.67 0.012 0.01
GTC-240 50.0 38.0 0.42 0.004 0.02
(including) 8.0 0.96 0.005 0.01
(new interval) 8.0 0.06 0.005 0.01
GTC-010 50.0 50.0 0.35 0.004 0.01
(including) 4.0 0.96 0.003 0.01
GTC-009A 57.5 57.5 0.20 0.007 0.04
6.0 0.32 0.002 0.03
(including) 3.5 0.16 0.050 0.04
4.0 0.23 0.002 0.27
GTC-180 44.0 44.0 0.16 0.005 0.01
GTC-004 141.0 132.0 0.12 0.009 0.11
(including) 10.0 0.30 0.015 0.11
GTC-012 50.0 26.0 0.10 0.006 0.01
GTC-011 50.0 34.0 0.09 0.006 0.01
GTC-270 47.0 10.0 0.08 0.002 0.01
(new interval) 12.0 0.05 0.006 0.04
Main Zone
The northern portion of the Main Zone displays the best
porphyry-style quartz+sulphide stockwork in an outcrop of
argillic+potassic-altered quartz monzonite. However, a large portion of the
northern portion is also covered with >10 metres of colluvium.
Trench GTC-009A revealed 56 metres of anomalous copper
mineralisation with spikes of molybdenum and gold. Mesothermal quartz veins
and veinlets overprinted the porphyry at this location and this later
mineralising event carries the sporadic gold values, at least in Gangjiang.
The anomalous Cu+Mo trench assay results at GTC-009A continue to
the SSW, which is bounded by trenches GTC-012, 270, 190 and 180. The enclosed
area of these trenches, which hosts mostly potassically altered and
mineralised quartz monzonite, is about 1.4 km2.
Trench GTC-190, which is located at the southern fringes of the
Main Zone, returned the most significant assay results from among the 15
trenches. This trench is an old one which was re-sampled to check the
reliability of SIMGE trenching results. Here, the trench is parallel to a
northwest-trending structurally controlled zone of copper mineralisation.
Trench GTC-190 showed 60 metres grading 1.31% Cu and 0.012% Mo, including a 46
metre section of 1.67% Cu.
West Zone
In contrast, the outcropping porphyry system in the West Zone is
spatially associated with an area of intense phyllic+argillic-altered quartz
monzonite, covering about 0.7 km2. The assay results of trenches GTC-013, 014,
015, 002 and 001 returned almost nil copper, anomalous molybdenum and a gold
spike. These features most probably indicate a leached cap environment; a zone
of intense supergene acid leaching of pre-existing iron and copper sulphides
above the palaeo-water table (old water table). The leached cap potentially
covers a deeper supergene enriched copper oxide and sulphide zone just below
the palaeo-water table.
Consequently, the type of rocks, hydrothermal alteration and
geochemistry in the West Zone makes this a probable supergene oxide and
sulphide target that requires drilling. Drilling in this area is scheduled for
June 2007, following drilling in the Tinggong area where the targets are
located next to a supergene copper oxide mine.
Comparison with Previous Trench Results
The assay results of the four re-sampled trenches did not match the
previous SIMGE results.
Trench No./ Length Data Source Cu % Mo % Au g/t*
GTC-190 / 39.4 metres GGG 1.42 0.011 0.01
SIMGE 0.96 0.026 0.11
GTC-180 / 38 metres GGG 0.15 0.004 0.01
SIMGE 0.22 0.011 0.07
GTC-240 / 38 metres GGG 0.31 0.004 0.01
SIMGE 0.78 0.007 0.01
GTC-270 / 26 metres GGG 0.06 0.004 0.03
SIMGE 0.90 0.003 0.01
*g/t means gramme per tonne
Jun Angeles, Exploration Manager of Central China Goldfields, comments:
"The trench results complement the conclusions of the geological
mapping and geophysical survey that there are potential targets for both
supergene and hypogene copper mineralised bodies at Gangjiang."
Technical information in the Company news releases has been
reviewed and approved by Ciceron "Jun" Angeles (MSc., FAusIMM, CP Geo) 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 Hanson Westhouse Limited
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
About copper oxide:
When ground water and meteoric water (rain), oxygen and carbon
interacted with iron and copper sulphide in the original unweathered rocks,
they oxidised the sulphides present and created acid as part of this process.
The acid in turn may leach any copper present in the system and deposit it in
a so called "supergene" (enriched) layer, composed of an upper supergene
copper oxide zone and a lower supergene copper sulphide zone. The rough
boundary of the supergene oxide and sulphide zone is the palaeo-water table
(old water table) interface. This process occurred in Nimu and the Company is
targeting such enriched copper layers in its exploration.
We target these layers because:
- The layers are richer in copper (higher grade)
- Oxide copper can be processed by Solvent Extraction /
Electrowinning (SX/EW) which is generally lower in capital costs and
operational costs.
- The SX/EW plants are modular and allow scaling up of production.
- The end product is London Metal Exchange (LME) Grade A copper
cathodes.
END
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