Rhenium Results at Gangjiang Licence
May 27 2009 - 2:00AM
UK Regulatory
TIDMGGG
Central China Goldfields plc
(`GGG' or `the Company')
SIGNIFICANT RHENIUM RESULTS
AT GANGJIANG LICENCE AREA
LONDON - 27 May 2009 - Central China Goldfields plc (AIM: GGG) and its partner
the Sichuan Bureau of Metallurgy and Geological Exploration are pleased to
report preliminary results of the rhenium content from the Guqing prospect on
the Gangjiang exploration licence area, the Nimu Copper-Molybdenum Project
("Nimu").
Highlights:
* Significant amounts of rhenium have been identified which show a good
correlation with molybdenum values.
* Of twenty six molybdenum-bearing drillcore samples tested, the average
molybdenum to rhenium ratio was circa 6000 to 1, which is significant.
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:
"Analyses of these molybdenum-rich samples have shown that there is a strong
correlation between the presence of molybdenum and rhenium. Its clear that
Gangjiang now contains elevated concentrations of copper, molybdenum, silver
and rhenium."
INTRODUCTION
Rhenium (Re) is a common by-product of molydenite which is the
molybdenum-bearing sulphide associated with porphyry copper-molybdenum (Cu-Mo)
deposits. Rhenium in the form of ammonium perrhenate (NH4ReO4) or APR, is used
mainly as an alloying ingredient for aircraft engines and "reformer" catalyst
in the oil industry. The current price of rhenium is approximately US$ 7,000/
kg.
In order to know the rough contents of rhenium in the Gangjiang porphyry
prospect, 26 drillcore samples of high molybdenum content were selected from
holes GJ08, GJ09 and GJ10, located at the Guqing prospect, and analysed for
rhenium.
DISCUSSION OF RESULTS
The normal range of molybdenum (Mo) in the Guqing area is about 100 to 400
parts per millon (ppm) or grammes per tonne (g/t) Mo and can be as high as
3,000 g/t. To ensure that there is sufficient rhenium in the orientation
samples, those with moderate to high molybdenum values were selected for
analysis as shown in Table 1.
Table 1. Summary of element concentrations
Hole Sample No. From To Cu ppm (g/t) Mo g/t Re g/t Ag g/t
GJ08 NC123011 42.80 44.80 3523 1130 0.3 8
GJ08 NC123025 70.00 72.10 4012 1126 0.4 2
GJ08 NC125953 215.70 217.70 18400 1093 0.25 26
GJ08 NC125965 239.60 241.60 378 1276 0.33 1
GJ08 NC125980 269.60 271.60 5935 1072 0.18 4
GJ08 NC125994 297.60 299.60 5810 1513 0.02 1
GJ08 NC125995 299.60 301.60 5320 1174 0.04 2
GJ08 NC125996 301.60 303.60 8508 1831 0.02 3
GJ08 NC125997 303.60 305.60 3829 999 0.03 1
GJ08 NC125998 305.60 307.60 3862 1129 <0.01 1
GJ08 NC125999 307.60 309.60 5925 1011 0.08 3
GJ08 NC125902 313.60 315.60 2251 1535 1.1 2
GJ08 NC125906 321.60 323.60 2179 1593 0.69 3
GJ08 NC125907 323.60 325.60 3476 959 0.5 4
GJ08 NC125908 325.60 327.60 3327 1242 0.46 4
GJ09 NC130016 32.00 34.00 4431 449 0.18 1
GJ09 NC130025 48.00 50.00 3185 943 0.37 1
GJ09 NC130027 52.00 54.00 981 523 0.24 <1
GJ09 NC130031 60.00 62.00 2022 779 0.17 <1
GJ10 NC130214 31.00 33.00 5295 456 0.06 16
GJ10 NC130229 61.00 63.00 1460 586 0.06 6
GJ10 NC130236 74.00 76.00 1561 367 0.09 <1
GJ10 NC130283 160.00 162.00 1170 1190 0.8 4
GJ10 NC130305 204.00 205.00 685 1095 0.5 <1
GJ10 NC130307 206.50 208.00 674 536 0.17 4
GJ10 NC130326 240.90 242.00 1823 1821 0.92 6
These samples contain 367 to 1831 g/t molybdenium and <0.01 to 1.1 g/t
rhenium. When plotted in the Mo-Re scatter plot, there is a positive
correlation between molybdenum and rhenium, i.e. the higher the molybdenum, the
higher the rhenium.
This orientation sampling shows that rhenium may be roughly estimated as long
as we know the molybdenum contents of the ore by using the Mo:Re ratio. For
rhenium results that are above twice the detection limit (0.1 ppm), the average
Mo:Re ratio of 23 samples is about 6,386 (Table 2).
Table 2. Molybdenum :Rhenium ratio of samples >0.2 ppm Rhenium
Hole Sample No. From To Mo ppm Re ppm Mo:Re Ratio
GJ08 NC123011 42.80 44.80 1130 0.3 3767
GJ08 NC123025 70.00 72.10 1126 0.4 2815
GJ08 NC125953 215.70 217.70 1093 0.25 4372
GJ08 NC125965 239.60 241.60 1276 0.33 3867
GJ08 NC125995 299.60 301.60 1174 0.04 29350
GJ08 NC125997 303.60 305.60 999 0.03 33300
GJ08 NC125999 307.60 309.60 1011 0.08 12638
GJ08 NC125902 313.60 315.60 1535 1.1 1395
GJ08 NC125906 321.60 323.60 1593 0.69 2309
GJ08 NC125907 323.60 325.60 959 0.5 1918
GJ08 NC125908 325.60 327.60 1242 0.46 2700
GJ09 NC130016 32.00 34.00 449 0.18 2494
GJ09 NC130025 48.00 50.00 943 0.37 2549
GJ09 NC130027 52.00 54.00 523 0.24 2179
GJ09 NC130031 60.00 62.00 779 0.17 4582
GJ10 NC130214 31.00 33.00 456 0.06 7600
GJ10 NC130229 61.00 63.00 586 0.06 9767
GJ10 NC130236 74.00 76.00 367 0.09 4078
GJ10 NC130283 160.00 162.00 1190 0.8 1488
GJ10 NC130305 204.00 205.00 1095 0.5 2190
GJ10 NC130307 206.50 208.00 536 0.17 3153
GJ10 NC130326 240.90 242.00 1821 0.92 1979
Average Mo:Re Ratio 6386
SAMPLING & ANALYTICAL DETAILS:
Drill core samples (PQ, HQ, NQ core diametre sizes) were split into half by a
diamond saw cutting machine at the project site. The half split samples, each
weighing about 3-7 kilograms, were collected at an average interval of 2
metres. The samples were processed and analysed by Intertek Testing Service
Ltd. Shanghai. Sample preparation was done by Intertek-Kunming branch office,
China. Chemical analysis was done by Intertek-Beijing office. Copper, silver,
lead and zinc were analysed by atomic absorption spectrometry (AAS);
molybdenum, arsenic and antimony were analysed by x-ray fluorescence (XRF); and
rhenium by 4 acid digest and analysed by mass spectrometry. Routine
international-standard QA/QC procedures were used by Intertek. Three of the
eight elements analysed are reported here: copper (Cu), molybdenum (Mo) and
rhenium (Re). The detection limits for Cu, Mo and Re are 2 ppm, 1 and 0.01 ppm,
respectively.
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 Tim Metcalfe / Martin Davison
Tel: 020 7621 0200 Tel: 020 7601 6100
Email: info@ccgoldfields.com
www.ccgoldfields.com Alexander David Securities
Limited
Nick Bealer / David Scott
Tel: 020 7448 9820
END
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