Drilling Report
October 28 2008 - 3:43AM
UK Regulatory
Central China Goldfields plc
(`GGG' or `the Company')
EAST NADING & GELONG PROSPECTS CONNECTED
SUPERGENE OXIDES ALSO PRESENT
LONDON - 28 October 2008 - Central China Goldfields plc (AIM: GGG),
and its partner the Sichuan Bureau of Metallurgy and Geological Exploration,
are pleased to report significant results from diamond drill hole GJ19, from
the 2008 round of drilling at the East Nading-Gelong area, and rock sample
results from along drill access roads, Gangjiang exploration licence area,
Nimu Copper-Molybdenum Project ("Nimu").
Highlights:
- Drill hole GJ19 located at Gelong-East Nading prospect area is
mineralised throughout most of its length, after 2.4 metres of overburden,
with the hole ending in mineralisation. The hole returned 399 metres of 0.48%
copper equivalent (0.26% Cu and 0.025% Mo) and 2.9 g/t Ag.
- The top 101.7 metres, from 16.3 metres downhole, which is oxide
and mixed oxide-sulphide zones, returned 0.53% copper equivalent (0.28% Cu &
0.028% Mo). This includes 37.7 metres of pure oxide zone averaging 0.39% total
copper with a maximum of 7.2 metres of 1.01% total copper.
- The bottom 225 metres, from 176.2 metres downhole, averaged 0.54%
copper equivalent (0.30% Cu & 0.027% Mo) of which a total of 59.7 metres, with
a maximum of 29.8 metres continuous section, were mineralised at greater than
0.7% copper equivalent.
- Results from the five drill holes, spaced at 200 metres apart
(GJ15-GJ19), as well as the drill access rock sample and trenching results,
confirm that mineralisation is continuous between the Gelong and East Nading
prospects. This is an area one kilometre long from North to South and at least
400 metres wide from West to East.
- To date, 16 out of 19 holes in the Gangjiang licence area have
returned significant mineralisation.
- 218 metres of rock chip samples on partially exposed sub-outcrops
along drill access roads in the Gelong-East Nading prospect area confirmed
continuous shallow porphyry copper-molybdenum mineralisation, including
supergene oxide zones. 26 of the 28 sampling sites along these road cuts
returned significant copper and molybdenum mineralisation. These include:
- 20 metres @ 0.35% copper equivalent (0.31% Cu and 0.005% Mo) at GJRDC17
- 10 metres @ 0.33% copper equivalent (0.19% Cu and 0.015% Mo) at GJRDC13
- 32 metres @ 0.31% copper equivalent (0.10% Cu and 0.022% Mo) at GJRDC08
- 20 metres @ 0.26% copper equivalent (0.14% Cu and 0.013% Mo) at GJRDC11
- 12 metres @ 0.23% copper equivalent (0.05% Cu and 0.020% Mo) at GJRDC14
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:
"Based on the results of drill hole GJ19, which is the fifth
successful drill hole in a continuous sequence now covering a distance of over
one kilometre north to south, we can now confirm that Gangjiang is potentially
a world-class copper-molybdenum deposit.
Most of the mineralisation in Gangjiang starts from the surface,
with some areas of enriched copper oxide zones and with substantial parts of
the mineralisation grading 0.5% copper equivalent or better.
The drill results at Gangjiang in 2008 have identified and
confirmed two copper-molybdenum mineralised areas: Guqing and Gelong-East
Nading. There is geological evidence and trenching results which suggest that
these two areas may be connected.
The Guqing area is about 460 metres long, 150 metres wide and about
250 metres deep. The Gelong-East Nading area is over 1,000 metres long, at
least 400 metres wide and the depth varies from about 80 metres to 580 metres.
The next two holes, GJ20 and GJ21, will test the western and
eastern extension of the known mineralised zone on the Gelong-East Nading
area.
Our 2008 drilling campaign has hit mineralisation in every hole,
with 84% hitting significant mineralisation. We are therefore convinced that
our exploration model is soundly based with the potential to find additional
mineralisation going forward. Further sampling and trenching of other
potential areas of mineralisation are now being conducted to test whether
mineralisation extends around the entire five kilometre long circumference of
the Nading rhyodacite stock."
2008 DRILLING PROGRAMME:
The second round of diamond drilling at the Gangjiang exploration
licence area was completed on 10 October 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 at three prospects, namely Guqing, East Nading
and Gelong.
A total of thirteen holes have been completed as listed in Table 1.
Copper ("Cu"), molybdenum ("Mo") and silver ("Ag") assays for holes GJ09 to
GJ19 have been received. Results from holes GJ20 and GJ21 are still pending.
Table 1. Gangjiang drillhole summary
Hole No. Prospect Azimuth (o) Dip (o) Collar Depth (m)
Elevation (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
GEOLOGY & DRILLING RESULTS:
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 and PPDC dykes when near to well-mineralised QZMZ and PPQM.
Results of prior batches from holes GJ09 to GJ18 were released from
29 July to 20 October 2008. Hole GJ19 was drilled due east and is between hole
GJ18, about 200 metres to the south and GJ17, about 250m to the north and
effectively proves that mineralisation at East Nading prospect in the south is
continuous to Gelong in the north for a distance of about 1 kilometre. At
Gelong, holes GJ06, GJ16 and GJ05 indicate continuous mineralisation of about
400 metres from west to east. At about 0.10% Cu cut-off, the significant assay
results of hole GJ19 are outlined in Table 2.
Table 2. Summary of significant GJ19 drillhole assay results at
about 0.1% Cu cut-off grade
Hole No. From (m) To (m) Width (m) % Cu % Mo % Cu Eq Ag g/t
GJ19 16.3 118.0 101.7 0.28 0.028 0.53 3.8
incl. 30.6 37.8 7.2 1.01 0.034 1.31 4.2
GJ19 144.2 157.5 13.3 0.28 0.018 0.44 5.1
GJ19 176.2 401.4 225.2 0.30 0.027 0.54 3.0
incl. 176.2 206.0 29.8 0.41 0.036 0.73 2.3
incl. 222.0 232.0 10.0 0.46 0.042 0.84 3.9
incl. 248.0 262.0 14.0 0.44 0.043 0.82 5.8
incl. 344.0 349.9 5.9 0.43 0.076 1.11 1.7
Note: % Cu Equivalent (% Cu Eq) = % Cu + 9 x % Mo assuming
metallurgical recovery for both Cu and Mo is 100%
Similar to holes GJ16 and GJ18, hole GJ19 is almost mineralised
throughout its entire length and the mineralisation is still open at 401.4
metres. The hole returned 399 metres of 0.48% copper equivalent (0.26% Cu and
0.025% Mo) and 2.9 g/t Ag from 2.4 metres of overburden. Best intercepts are
as follows:
- The top 101.7 metres, from 16.3 metres downhole, which is oxide
and mixed oxide-sulphide zones, returned 0.53% copper equivalent (0.28% Cu &
0.028% Mo). This includes 37.7 metres of pure oxide zone averaging 0.39% total
copper with a maximum of 7.2 metres of 1.01% total copper.
- 13.3 metres of 0.44% copper equivalent (0.28% Cu & 0.018% Mo)
from 144.2 metres.
- 225.2 metres of 0.54% copper equivalent (0.30% Cu & 0.027% Mo)
from 176.2 metres of which a total of 59.7 metres, with a maximum of 29.8
metres continuous section were mineralised at greater than 0.7% copper
equivalent.
To date, 16 out of 19 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 GJ19.
DRILL ACCESS ROAD CUT SAMPLING RESULTS:
Drill access roads at the Gelong-East Nading prospect area exposed
mineralised sub-outcrops in some sections of the drilled area. These road cuts
were mapped and mineralised outcrops were sampled by continuous 2 metres long
rock chip sampling. A total of 718 metres of outcrops was mapped of which 218
metres were sampled. The significant assay results of the sampling are
outlined in Table 3.
Table 3. Summary of significant drill acess road cut assay results
Mineralised
Length Interval Composite
Road Cut ID (m) (m) Assay Data
% Cu % Mo % Cu Eq
GJRDC01 8 8 0.09 0.008 0.16
GJRDC02 14 6 0.12 0.010 0.21
4 0.08 0.007 0.15
GJRDC03 6 6 0.08 0.007 0.14
GJRDC04 4 4 0.15 0.008 0.22
GJRDC05 6 6 0.06 0.014 0.19
GJRDC06 2 2 0.07 0.006 0.12
GJRDC07 10 4 0.14 0.032 0.43
4 0.15 0.014 0.27
GJRDC08 32 32 0.10 0.022 0.31
GJRDC09 6 6 0.18 0.007 0.24
GJRDC10 2 2 0.08 0.005 0.13
GJRDC11 20 20 0.14 0.013 0.26
GJRDC12 6 6 0.35 0.021 0.54
GJRDC13 10 10 0.19 0.015 0.33
GJRDC14 12 12 0.05 0.020 0.23
GJRDC15 6 6 0.23 0.005 0.27
GJRDC16 2 2 0.26 0.003 0.29
GJRDC17 20 20 0.31 0.005 0.35
GJRDC18 2 2 0.04 0.020 0.22
GJRDC19 4 4 0.42 0.005 0.46
GJRDC20 6 6 0.32 0.005 0.36
GJRDC21 2 2 0.12 0.044 0.52
GJRDC22 4 4 0.13 0.031 0.41
GJRDC23 10 10 0.14 0.007 0.20
GJRDC26 4 4 0.05 0.007 0.11
GJRDC27 6 6 0.09 0.015 0.22
GJRDC28 2 2 0.33 0.010 0.42
Note: % Cu Equivalent (% Cu Eq) = % Cu + 9 x % Mo assuming
metallurgical recovery for both Cu and Mo is 100%
These sampling results confirm continuous shallow porphyry
copper-molybdenum mineralisation at Gelong-East Nading prospect area. Twenty
six of the 28 sampling sites along these road cuts returned significant copper
and molybdenum mineralisation. These include:
- 32 metres @ 0.31% copper equivalent (0.10% Cu and 0.022% Mo) at GJRDC08
- 20 metres @ 0.26% copper equivalent (0.14% Cu and 0.013% Mo) at GJRDC11
- 6 metres @ 0.54% copper equivalent (0.35%Cu and 0.021% Mo) at GJRDC12
- 10 metres @ 0.33% copper equivalent (0.19% Cu and 0.015% Mo) at GJRDC13
- 12 metres @ 0.23% copper equivalent (0.05% Cu and 0.020% Mo) at GJRDC14
- 20 metres @ 0.35% copper equivalent (0.31% Cu and 0.005% Mo) at GJRDC17
- 4 metres @ 0.46% copper equivalent (0.42%Cu and 0.005% Mo) at GJRDC19
- 4 metres @ 0.41% copper equivalent (0.13%Cu and 0.031% Mo) at GJRDC22
- 4 metres @ 0.43% copper equivalent (0.14%Cu and 0.032% Mo) at GJRDC28
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 to 7 kilograms, are collected at an average
interval of 2 metres.
Continuous chip samples were taken on two metre intervals on
exposed sub-outcrops using a chisel, a hammer and a canvass sheet to catch all
the broken rocks. Each sample weighed between 2 to 3 kilograms. A duplicate
sample was taken, as close as possible to the original sample site, after
every 10th sample.
The drill core and chip 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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