Nimu Drilling Report
September 10 2008 - 3:00AM
UK Regulatory
Central China Goldfields plc
(`GGG' or `the Company')
CONFIRMED SECOND COPPER CENTRE AT EAST NADING PROSPECT
GANGJIANG LICENCE, NIMU PROJECT
576m @ 0.31% Cu Eq with multiple higher grade sections
LONDON - 10 September 2008 - Central China Goldfields plc (AIM:
GGG) is pleased to report encouraging diamond drill hole GJ15 results from the
2008 round of drilling at the East Nading prospect, Gangjiang exploration
licence area, Nimu Copper-Molybdenum Project ("Nimu").
Highlights:
- Drill hole GJ15 returned 22.1 metres of 1.02% copper equivalent
(0.24% Cu and 0.087% Mo) within a 160.4 metres section assaying 0.48% copper
equivalent (0.18% Cu and 0.033% Mo) commencing 174 metres from surface.
- Hole GJ15 ended in mineralised rock at 580.8 metres depth and
mineralisation remains open at depth. The entire hole returned 576 metres of
0.31% copper equivalent (0.13% Cu and 0.020%Mo) commencing 4.8 metres from the
surface.
- The East Nading centre may be part of a larger area of
mineralisation which may include the Gelong prospect 800 metres to the north,
currently being drilled and assayed.
- Hole GJ02, immediately south west of GJ15 and announced on 30
August 2007, assayed 68.7 metres of 0.43% copper equivalent (0.15% Cu and
0.031% Mo) from near surface within a 268 metres section of 0.28% copper
equivalent (0.15% Cu and 0.014% Mo) commencing 7 metres from the surface.
These two holes indicate the depth of the mineralisation at East Nading.
- To date, eleven out of fifteen holes in the Gangjiang licence
area have returned significant mineralisation.
Jeff Malaihollo, Managing Director of Central China Goldfields plc,
comments:
"Holes GJ15 and GJ02 confirm that East Nading is a second centre of
mineralisation in the Gangjiang licence.
Mineralisation at East Nading is approximately 900 metres north of
the first well defined area at Guqing, appears to be near surface and runs
over lengthy intervals with distinctive areas of higher grade mineralisation.
We are now awaiting the assay results from the next few holes
located at the third centre of mineralisation called Gelong, 800 metres north
of East Nading, and also in the area between Gelong and East Nading. There is
evidence to suggest that the Gelong and East Nading areas may be connected. If
this is supported by drill assays over the coming months this would represent
a very substantial continuous area of mineralisation and a major asset for the
company."
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 to GJ14, East Nading, represented by holes GJ02 and
GJ15, and Gelong, represented by holes GJ05, GJ06, GJ16 and GJ17.
For this year, nine holes have been completed as listed in Table 1.
The 10th hole, GJ18, is currently being drilled at the East Nading prospect.
Copper ("Cu"), molybdenum ("Mo") and silver ("Ag") assays for holes
GJ09 to GJ15 have been received. Results from holes GJ16 and GJ17 are still
pending.
Table 1. Gangjiang drillhole summary
Hole No. Prospect Azimuth Dip (o) Collar Depth (m)
(o) Elevation
(m)
GJ09 Guqing 270 -60 4,899 373.50
GJ10 Guqing 90 -60 4,899 543.70
GJ11 Guqing 268 -60 4829 220.00
GJ12 Guqing 90 -60 4,829 304.70
GJ13 Guqing 269 -60 4,928 325.30
GJ14 Guqing 90 -60 4,928 303.00
GJ15 East Nading 90 -60 4,990 580.80
GJ16 Gelong 270 -60 4,650 400.00
GJ17 Gelong 90 -60 4,727 269.60
Total Depth (m) 3,320.60
GEOLOGICAL & ASSAY DETAILS:
The Gangjiang licence 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 consists 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.
Results of prior batches from holes GJ09 to GJ13 were released on
29 and 31 July 2008, whilst hole GJ14 results were released on 14 August 2008.
Hole GJ15 at the East Nading prospect is located at the same site as hole GJ02
but directed due east. At about 0.10% Cu cut-off, the assay results of hole
GJ15 are outlined in Table 2.
Table 2. Summary of significant GJ15 drillhole assay results at
about 0.1% Cu
Hole No. From (m) To (m) Width (m) % Cu % Mo % Cu Eq Ag g/t
GJ15 6.0 66.0 60.0 0.23 0.023 0.44 5.9
incl. 10.0 18.0 8.0 0.39 0.040 0.75 15.8
GJ15 78.0 103.9 25.9 0.09 0.015 0.23 7.0
GJ15 174.0 334.4 160.4 0.18 0.033 0.48 1.7
incl. 220.0 248.0 28.0 0.15 0.049 0.59 1.0
incl. 283.9 306.0 22.1 0.24 0.087 1.02 1.9
GJ15 341.6 347.3 5.7 0.16 0.008 0.23 1.5
GJ15 363.0 435.4 72.4 0.13 0.016 0.27 1.1
GJ15 442.0 460.0 18.0 0.12 0.029 0.38 1.2
GJ15 470.0 484.0 14.0 0.10 0.013 0.22
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