Drilling Report
October 20 2008 - 2:15AM
UK Regulatory
Central China Goldfields plc
('GGG' or 'the Company')
MINERALISATION EXTENDED NORTH AND SOUTH
EAST NADINGTO GELONG PROSPECTS
GANGJIANG LICENCE, NIMU PROJECT
LONDON - 20 October 2008 -Central China Goldfields plc (AIM: GGG) and our
partner the Sichuan Bureau of Metallurgy and Geological Exploration are pleased
to report significant results of diamond drill holes GJ18 and GJ17from the 2008
round of drilling at the East Nading-Gelong area, Gangjiang exploration licence
area, Nimu Copper-Molybdenum Project ("Nimu").
Highlights:
Drill hole GJ18 returned 391.1 metres of 0.38% copper equivalent (0.19% Cu and
0.021% Mo) and 1.9 g/t Ag.
Drill hole GJ18 was mineralised throughout the entire 391.1 metres, after 12.7
metres of overburden, with the hole ending in mineralisation and it is open to
depth.
A total of 112.1 metres, with a maximum of 55.6 metres continuous section, of
the 391.1 metres interval were mineralised at greater than 0.50% copper
equivalent.
Drill hole GJ17 returned 84 metres of 0.43% copper equivalent (0.18% Cu and
0.028% Mo) and 1.1 g/t Ag from 104 to 188 metres.
Drill hole GJ17's best grade is 0.56% copper equivalent (0.21% Cu and 0.039%
Mo) over 54.1 metres from 130 metres down hole.
These assay results indicate the likelihood that mineralisation is continuous
between East Nading and Gelong prospects, over a distance of about 1 kilometer
from North to South. We are awaiting the results of Hole GJ19 which is located
between Hole GJ17 and GJ18 to verify whether this is two mineralised areas or
one larger body.
To date, 15 out of 18 holes in the Gangjiang licence area have returned
significant mineralisation.
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:
"These results now demonstrate that the mineralised area around GJ15 continues
northwards about 200 metres to GJ18 and secondly that mineralisation also
extends 300 metres south of hole GJ16 following drill results from GJ17.
There is now a gap of 400 metres between holes GJ18 and GJ17. Hole GJ19 will
test this gap with the aim of linking these two sizable zones into a single
body.
Furthermore, the extension of the mineralised zones around GJ15 and GJ16
indicate there may be more zones of mineralisation to be found around the
periphery of the rhyodacite stock centered at Nading, which has a circumference
of about 5 kilometers."
2008 DRILLING PROGRAMME:
The 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, GJ15 and GJ18 and Gelong,
represented by holes GJ05, GJ06, GJ16 and GJ17.
To date, thirteen holes have been completed as listed in Table 1.
Copper ("Cu"), molybdenum ("Mo") and silver ("Ag") assays for holes GJ09 to
GJ18 have been received. Results from holes GJ19 and GJ20 are still pending.
Table 1. Gangjiang drillhole summary
Hole No. Prospect Azimuth (o) Dip (o) Collar Elevation (m) Depth (m)
GJ09 Guqing 270 -60 4,899 373.5
GJ10 Guqing 90 -60 4,899 543.7
GJ11 Guqing 268 -60 4,829 220.0
GJ12 Guqing 90 -60 4,829 304.7
GJ13 Guqing 269 -60 4,928 325.3
GJ14 Guqing 90 -60 4,928 303.0
GJ15 East Nading 90 -60 4,990 580.8
GJ16 Gelong 270 -60 4,650 400.0
GJ17 Gelong 90 -60 4,727 269.6
GJ18 East Nading 90 -60 4,874 403.8
GJ19 East Nading-Gelong 90 -60 4,810 401.4
GJ20 Gelong 270 -60 4,679 345.6
GJ21 East Nading-Gelong 90 -60 4,840 398.4
Total Depth (m) 4,869.8
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"), quartz
latite ("PPQL"), and dacite ("PPDC") 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,
PPQM and PPQL. 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 copper 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 GJ16 were released from 29 July to
26 September 2008. Holes GJ17 and GJ18 are located within the East Nading and
Gelong prospects and confirms that the mineralisation is continuous between the
two prospects. Although assay results of hole GJ19, located between holes GJ17
and GJ18, is still pending, it is reasonable to believe that it will link
finally the two prospects with drill holes spaced about 200-300 metres apart
from GJ15 in East Nading to GJ16 in Gelong for a distance of about 1 kilometre.
Hole GJ17 is located about 300 metres south from GJ16 in Gelong and hole GJ18
is about 200 metres north of hole GJ15 in East Nading. Both holes are drilled
due east. At about 0.10% Cu cut-off, the significant assay results of holes
GJ17 and GJ18 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)
GJ17 86.0 94.0 10.0 0.13 0.005 0.18 3.5
GJ17 104.0 188.0 84.0 0.18 0.028 0.43 1.1
incl. 130.0 184.1 54.1 0.21 0.039 0.56 1.1
GJ18 12.7 70.0 57.3 0.23 0.021 0.42 2.7
incl. 14.0 22.3 8.3 0.42 0.050 0.87 11.6
GJ18 94.0 178.0 84.0 0.24 0.015 0.37 2.5
incl. 108.0 120.7 12.7 0.32 0.030 0.59 4.7
GJ18 202.0 288.0 86.0 0.18 0.033 0.48 1.6
incl. 206.0 216.0 10.0 0.27 0.034 0.57 1.8
incl. 236.5 254.0 17.5 0.23 0.084 0.98 2.4
GJ18 300.6 403.8 103.2 0.19 0.027 0.44 1.9
incl. 313.7 369.3 55.6 0.26 0.032 0.55 2.6
incl. 380.0 388.0 8.0 0.10 0.061 0.64 2.9
Note: % Cu Equivalent (% Cu Eq) = % Cu + 9 x % Mo assuming metallurgical
recovery for both Cu and Mo is 100%
Hole GJ17 is significantly mineralised from 86 to 188 metres with best grade of
0.56% copper equivalent (0.21% Cu and 0.039% Mo) over 54.1 metres starting from
130 metres down hole.
Hole GJ18 is almost mineralised throughout its entire length and the
mineralisation is still open at 403.8 metres. Below the colluvial overburden at
12.7 metres, the hole returned 391.1 metres of 0.38% copper equivalent (0.19%
Cu and 0.021% Mo) and 1.9 g/t Ag from 12.7 metres down hole. Best intercepts
are as follows:
8.3 metres of 0.87% Cu Equivalent (0.42% Cu & 0.05% Mo) from 14 metres
12.7 metres of 0.59% Cu Equivalent (0.32% Cu & 0.03% Mo) from 108 metres
10 metres of 0.57% Cu Equivalent (0.27% Cu & 0.034% Mo) from 206 metres
17.5 metres of 0.98% Cu Equivalent (0.23% Cu & 0.084% Mo) from 236.5 metres
55.6 metres of 0.55% Cu Equivalent (0.26% Cu & 0.032% Mo) from 313.7 metres
8 metres of 0.64% Cu Equivalent (0.1% Cu & 0.061% Mo) from 380 metres
To date, 15 out of 18 holes in the Gangjiang licence area have returned
significant mineralisation (over 30 metres at 0.3% Cu Equivalent): namely holes
GJ02 to GJ10, and GJ13 to GJ18.
SAMPLING & ANALYTICAL DETAILS:
Drill core samples (PQ, HQ, NQ core diametre 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 SGS-CSTC Standards Technical
Services Co., Ltd in China. Sample preparation is done by the SGS-Xian branch
office whilst chemical analysis is done by the SGS-CSTC office in Tianjin. Pulp
samples were digested in aqua regia and analysed for thirty five elements by
inductively coupled plasma-optical emission spectroscopy (ICP-OES). Routine
international-standard QA/QC procedures were used by SGS-CSTC. Three elements
are reported here: copper (Cu), molybdenum (Mo) and silver (Ag). The detection
limit for Cu is 3 parts per million (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
END
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