Nimu Drilling Report
November 11 2008 - 2:15AM
UK Regulatory
Central China Goldfields plc
(`GGG' or `the Company')
HOLE GJ20 AT GELONG-EAST NADING PROSPECT
EXTENDS MINERALISATION FURTHER TO THE WEST
LONDON - 11November2008- 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 GJ20, from the 2008 round
of drilling at the Gelong-East Nading prospect, Gangjiang exploration licence
area, Nimu Copper-Molybdenum Project ("Nimu").
Highlights:
* Drill hole GJ20 located at Gelong-East Nading prospect returned three
separate mineralised zones:
* 19.3 metres of 0.70% copper equivalent (0.22% Cu & 0.053% Mo) from 76.1
metres downhole
* 25.1 metres of 0.78% copper equivalent (0.30% Cu & 0.053% Mo) from 111.4
metres downhole
* 95.7 metres of 0.46% copper equivalent (0.20% Cu & 0.029% Mo) from 156.1
metres downhole including 29.6 metres of 0.69% copper equivalent and 24.1
metres of 0.63% copper equivalent
* The total mineralisation over 250.1 metres was 0.34% copper equivalent
(0.14% Cu and 0.022% Mo) and 1.3 g/t Ag after 76.1 metres of glacial
overburden.
* The entire sequence consists of mainly mineralised quartz monzonite which
is cut by weakly mineralised dykes. The higher grade zones cited above are
sections hosted mainly by the mineralised quartz monzonite.
* The hole extended mineralisation about 100 metres further to the west of
drill hole GJ16 making the total east-west dimension of the mineralisation
at the northernmost drill section to at least 500 metres. Drill hole GJ16
itself returned 358.2 metres of 0.58% copper equivalent (0.24% Cu and
0.038% Mo) and 1.8 g/t Ag from 41.8 metres down hole.
* To date, 17 out of 20 holes in the Gangjiang licence area have returned
significant mineralisation.
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:
"We have only drilled a small portion of the target area on the Gangjiang
Licence but a clear picture of the geometry of mineralisation and grade
distribution is starting to emerge.
At the northern end, along an east-west section, there is a high grade core of
greater than 0.8% copper equivalent, with a surrounding lower grade halo of
about 0.4% copper equivalent.
Along a north-south section there appears to be a continuous mineralisation
hosted mainly by the quartz monzonite. The central part of this is oxidised
down to about 10 to 50 metres deep, creating an enriched copper oxide layer. As
in the east-west section there appears to be higher grade zones, with up to
greater than 1% copper equivalent within the mineralised rocks.
What has become apparent is the very large dimension of the copper molybdenum
mineralisation. So far we are able to delineate a minimum area of over 1,000
metres long, 500 metres wide and up to 500 metres deep.
As yet we have only tested about 30% of the possible mineralised envelope at
Gangjiang and there are trenches and geological evidence suggesting that there
is a possibility that mineralisation extends over a much larger area. In
addition, historic drill logs and trenches indicate that the surface
mineralised prospectivity in at least one other licence is similar to
Gangjiang."
2008 DRILLING PROGRAMME:
The second round of diamond drilling at the Gangjiang exploration licence area
was completed on 7th 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 GJ20 have
been received. Results from holes GJ21 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
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 GJ19 were released from 29 July to
28 October 2008. Hole GJ20 was drilled at the same site as hole GJ06 at
Gelong-East Nading prospect but drilled due west while GJ06 was drilled to the
northwest. It is the northwesternmost hole that has been drilled in Gangjiang.
This extends mineralisation about 100 metres further to the west making the
total east-west dimension of the mineralisation at the northernmost drill
section to a minimum of 500 metres. At about 0.10% Cu cut-off, the significant
assay results of hole GJ20 are outlined in Table 2.
Table 2. Summary of significant GJ20drillhole assay results at about 0.1% Cu
cut-off grade.
Hole No. From (m) To (m) Width (m) % Cu % Mo % Cu Eq ppm Ag
GJ20 76.1 95.4 19.30 0.22 0.053 0.70
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