Drilling Report
August 14 2008 - 2:15AM
UK Regulatory
Central China Goldfields plc
(`GGG' or `the Company')
65.1 METRES OF 0.75% COPPER EQUIVALENT
80% NEAR SURFACE OXIDE
AT GANGJIANG, NIMU PROJECT
LONDON - 14 August 2008 - Central China Goldfields plc (AIM: GGG) is pleased to
report diamond drill hole GJ14 results from the 2008 round of drilling at the
Gangjiang exploration licence area, Nimu Copper-Molybdenum Project ("Nimu").
Highlight:
* Hole GJ14 intersected 65.1metres of 0.75% copper equivalent (0.52% Cu and
0.025% Mo) starting 1.7 metres from surface.
* At 4 metres down hole, 1.06% copper equivalent was intersected for 12
metres.
* Analysis indicates approximately 80% of the copper is in oxide form which
may be amenable to low cost solvent extraction - electro-winning
processing.
* Copper oxide at the Guqing prospect of Gangjiang has to date been detected
at the surface measuring about 460 metres long, 60 to 80 metres wide, and
45 to 58 metres thick.
* To date, six out of eight holes in the Guqing prospect have returned
significant mineralisation to depth and all eight holes have hit
mineralisation at the surface.
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:
"Nimu is clearly becoming an important copper district following our drill
success over the past two months. Central China Goldfields has in total
interests in seven exploration licences, each of which shows evidence of copper
porphyry mineralisation. The work we are currently doing is focused on a small
area within one of the seven licences, Gangjiang.
Within Gangjiang we have now identified four potential centres of
mineralisation which appear to sit within a broader body of lower grade copper
mineralisation. The results of holes GJ07 to GJ14 have confirmed the
southeastern copper-rich centre at Guqing. Mineralisation there is near surface
and has been detected across an area of approximately 460 metres long, up to
150 metres wide and up to 250 metres deep. The near surface portion of this has
significant amounts of oxide copper present.
We are now testing the second area, East Nading, 900 metres to the north of
Guqing. Last year in this area we identified copper mineralisation in hole GJ02
(announced 30 August 2007). In light of what we learnt, we have re-analysed
this hole and confirmed that the top 44.7 metres from 11 metres down hole
returned circa 0.5% copper equivalent. This particular section is hosted within
the favourable quartz monzonite where strong mineralisation was identified
elsewhere in Nimu. Hole GJ15 was drilled with the aim of confirming
mineralisation in the East Nading area, the assays are pending."
2008 DRILLING PROGRAMME:
A second round of diamond drilling at the Gangjiang exploration licence area
commenced on 25 May 2008. The aim of this year's drilling programme is to find
the higher grade zones of last year's drilled prospects and define an inferred
resource. These prospects are the Guqing prospect represented by holes
GJ07-GJ14, East Nading represented by hole GJ02 and GJ15, and Gelong
represented by holes GJ05, GJ06 and GJ16.
To date, six holes have been completed at the Guqing prospect as listed in
Table 1. Hole GJ15 targeted the East Nading Prospect and has just been
completed. The next hole, GJ16, will be sited at Gelong prospect, located about
900 metres to the northeast of GJ15 and about 100 metres west of hole GJ05 and
will be drilled to the west towards hole GJ06.
Copper ("Cu"), molybdenum ("Mo") and silver ("Ag") assays for holes GJ09 to
GJ14 have been received. Results from hole GJ15 are still pending.
Table 1. Gangjiang drillhole summary
Hole No. Azimuth (o) Dip (o) Collar Depth (m)
Elevation
(m)
GJ09 270 -60 4,899 373.5
GJ10 90 -60 4,899 543.7
GJ11 268 -60 4,829 220.0
GJ12 90 -60 4,829 304.7
GJ13 269 -60 4,928 325.3
GJ14 90 -60 4,928 303.0
GJ15 90 -60 4,990 580.8
Total Depth (m) 2,651.0
GEOLOGICAL& ASSAY DETAILS:
The Guqing-East Nading area is underlain primarily by main stage quartz
monzonite ("QZMZ") intruded by various intra- to late-mineral porphyry
intrusives such as quartz monzonite ("PPQM"), rhyodacite ("PPRD"), dacite
("PPDC") and andesite porphyry dykes. Significant copper-molybdenum
mineralisation is in zones of moderate to intense phyllic (sericite-clay) and
potassic (K-feldspar-biotite) alteration zones in the QZMZ and PPQM. Primary
mineralisation consists of chalcopyrite and molybdenite mainly as blebs and
fracture fills and less in quartz veinlets. Pyrite is in very minor amounts and
hypogene chalcocite, sphalerite, and galena are locally abundant in
structurally controlled hydrothermal breccias. In the supergene (weathered)
zone, the copper ore consist of limonite-goethite, malachite, azurite,
neotocite (Cu manganese hydroxide), chalcocite and minor to rare pyrite.
Supergene Cu can also be contained in the adjacent PPRD dykes when near to
well-mineralised QZMZ and PPQM.
Partial copper analysis assay results from hole GJ14 have been received from
the drill programme. Partial copper determines the amount of copper in oxides
and as supergene (enriched) chalcocite. The copper oxide can be potentially
amenable to a low cost solvent extraction - electro-winning (SX/EW) processing.
Results of prior batches from holes GJ09 to GJ13 were released on 29 and 31
July 2008. Hole GJ14 is located at the same site as hole GJ13 but drilled due
east. At about 0.10% Cu cut-off, the assay results of the holes GJ14 is
outlined in Table 2.
Table 2. Summary of significant drillhole assay resultsat about 0.1% Cu or
0.03% Mo
Hole No. From (m) To (m) Width (m) % Total Cu % Partial Cu % Mo % Cu Eq ppm Ag
GJ14 1.70 66.8 65.1 0.52 0.43 0.025 0.75 3.2
Incl. 4.0 16.0 12.0 0.93 0.80 0.014 1.06 3.3
Incl. 50.0 56.0 6.0 1.03 0.90 0.060 1.08 1.2
Note: %CuEquivalent (% Cu Eq) = % Cu + 9x % Mo assuming metallurgical
recoveryfor both Cu and Mo is 100%
Hole GJ14 located at East Nading area intersected 65.1 metres of 0.52% Cu and
0.025% Mo or 0.75% Cu Equivalent. The copper occurs mainly as oxides all the
way down to 66.8 metres down hole or a true thickness of about 58 metres.
Partial copper analysis confirms that the copper is about 80% copper oxide with
an average of 0.43% Cu for the entire interval.
Sampling was not done beyond 66.8 metres down hole because the rock has changed
to the less favorably mineralised PPRD which is low grade when unoxidised but
in hindsight can possibly be enriched in copper by supergene process when
oxidised. Drill core inspection indeed suggests that the oxide zone continues
to 92 metres down hole and therefore further down hole assaying has been
initiated.
Hole GJ14 is the second hole, after GJ13, with a substantial thickness of
copper oxides in the Nimu Project to date. Currently, the copper oxide zone
measures about 460 metres long, 60 to 80 metres wide, and 45 to 58 metres
thick. To date, significant Cu-Mo mineralisation had been intersected by six
out of eight holes in the Guqing prospect, namely holes GJ07, GJ08, GJ09, GJ10,
GJ13 and GJ14.
SAMPLING & ANALYTICAL DETAILS:
Drill core samples (PQ, HQ, NQ core diameter sizes) are split into half by a
diamond saw cutting machine at the project site. The half split samples, each
weighing about 3-7 kilograms, are collected at an average interval of 2 metres.
The samples were processed and analysed by Intertek Testing Service Ltd.
Shanghai. Sample preparation is done by Intertek-Kunming branch office, China.
Chemical analysis is done by Intertek-Beijing office. Total copper, silver,
lead and zinc were analysed by atomic absorption spectrometry (AAS), and
molybdenum, arsenic and antimony were analysed by x-ray fluorescence (XRF). For
partial copper, the samples were digested in sulphuric acid and analyzed by
AAS. This method determines the copper content in oxides and chalcocite (Cu2S).
Routine international-standard QA/QC procedures were used by Intertek. Four of
the eight elements analysed are reported here: total copper (Cu), partial Cu,
molybdenum (Mo) and silver (Ag). The detection limit for total Cu is 2 parts
per million (ppm), partial Cu is 10 ppm, while for Mo and Ag, it is 1 ppm.
Technical information in the Company news releases has been reviewed and
approved by Ciceron "Jun" Angeles (MSc. FAusIMM, CPGeo) the Company's Vice
President for Exploration. 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 / Martin Davison
Tel: 020 7621 0200 Tel: 020 7601 6100
Email: info@ccgoldfields.com
www.ccgoldfields.com
Neil Boom Michael Parnes
Bishopgate Communications Ltd Old Park Lane Capital Plc
Tel: 020 7562 3367 Tel: 020 7493 8188
END
GGG Resources (LSE:GGG)
Historical Stock Chart
From Oct 2024 to Nov 2024
GGG Resources (LSE:GGG)
Historical Stock Chart
From Nov 2023 to Nov 2024
