Nimu Drilling Report
November 26 2008 - 2:15AM
UK Regulatory
Central China Goldfields plc
(`GGG' or `the Company')
HOLE GJ21 EXTENDS COPPER OXIDE MINERALISATION
200 METRES FURTHER EAST TO 700 METRES WIDE
LONDON - 26 November 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 hole GJ21 at the Gangjiang exploration
licence area, Nimu Copper-Molybdenum Project ("Nimu").
Highlights:
* Drill hole GJ21 intersected an initial 154 metres of 0.48% copper
equivalent (0.32% Cu & 0.018% Mo) from 18 metres downhole including 16
metres of copper oxide mineralisation of 0.58% total copper and 0.012%
molybdenum.
* This was then followed by further multiple sections of mineralisation
including:
+ 46.7 metres of 0.48% copper equivalent (0.19% Cu & 0.032% Mo) from
228.4 metres downhole
+ 19.4 metres of 0.27% copper equivalent (0.14% Cu & 0.014% Mo) from 284
metres downhole
+ 32.1 metres of 0.30% copper equivalent (0.12% Cu & 0.02% Mo) from 338
metres downhole
* The entire hole is almost continuously mineralised, from 18 metres
downhole. In total the hole returned 352.1 metres of 0.33% copper
equivalent (0.19% Cu and 0.015% Mo) and 1.6 g/t silver.
* The hole further extends the overall mineralisation 200 metres eastward
making the probable total east-west dimension of the mineralisation at East
Nading - Gelong about 700 metres and the north-south dimension at least
1,000 metres. Mineralised zones vary in depth from approximately 80 metres
to 580 metres.
* Mineralisation is additionally open to the north, east and southwest.
* The hole indicates that there is a sizeable copper oxide zone covering an
area of 200 metres by 250 metres. This oxide zone, about 14 metres below
the surface, is approximately 33 metres thick at a grade of around 0.4%
total copper plus significant but variable molybdenum mineralisation.
* To date 18 out of 21 holes in the Gangjiang licence area have returned
significant copper and molybdenum mineralisation.
* The Company has now completed its exploration programme at Nimu and will
now be focusing on non field work analysis and modeling during the coming
months.
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:
"This hole has extended the known area of mineralisation at Gelong-East Nading
to approximately 1,000 metres long and 700 metres wide.
This hole also confirms the presence of a second centre of enriched copper
oxide which in this case measures a minimum of 250 metres by 200 metres and up
to about 33 metres thick.
We now await further assay results from rock samples at other adjacent
localities in Gangjiang with the aim of demonstrating the further continuity of
mineralisation and additional drill targets going forward."
2008 DRILLING PROGRAMME:
The 2008 second year round of diamond drilling at the Gangjiang exploration
licence area was formally completed on 10 October 2008. The aim of this year's
drilling programme was to find the higher grade zones of last year's drilled
prospects and to define an inferred resource at Guqing and Gelong-East Nading
prospects.
A total of thirteen holes have been completed as listed in Table 1. Copper
("Cu"), molybdenum ("Mo") and silver ("Ag") assays for all thirteen holes
including GJ21 have been received.
Table 1. Gangjiang drillhole summary
Collar
Hole No. Prospect Azimuth (o) Dip (o) 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 and enriched) 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 GJ20 were released from 29 July to
11 November 2008.
Hole GJ21 was drilled due east and located 200 metres east from hole GJ19 in
the central portion of the Gelong-East Nading prospect. The hole extended the
mineralisation 200 metres further to the east making the probable total
east-west dimension of the mineralisation to about 700 metres and the
north-south dimension is at least 1 kilometre. Mineralisation is still open to
the north, east and southwest.
The hole also intersected 38.5 metres of copper oxide ("Cu oxide")
mineralisation at 0.42% total copper from 21.5 metres down hole. This is an
extension of the oxide mineralisation found in hole GJ19 (37.7 metres of 0.29%
total Cu as announced last 28 October 2008) and therefore shows a Cu oxide zone
that is about 33 metres thick and at least 250 metres by 200 metres in lateral
dimension at about 14 metres below the surface. At about 0.10% Cu cut-off, the
significant assay results of hole GJ21 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 Ag g/t Ore Type
GJ21 18.0 172.0 154.0 0.32 0.018 0.48 1.4 Cu-Mo
incl. 21.5 60.0 38.5 0.42 0.012 0.52 2.4 Cu Oxide
incl. 38.0 54.0 16.0 0.58 0.012 0.69 1.7 Cu Oxide
incl. 72.0 75.2 3.2 0.71 0.009 0.79 1.1 Cu-Mo
incl. 126.0 138.0 12.0 0.28 0.027 0.53
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