GGG Ggg Resources

 
TIDMGGG 
 
Central China Goldfields plc 
 
                           ("GGG" or "the Company") 
 
                              BULLABULLING OPTION 
 
22 March 2009 
 
Central China Goldfields plc has notified Auzex Resources Limited of its 
intention to exercise its option over the Bullabulling gold deposit joint 
venture. This is further to the announcement of 11 February 2010 and follows 
completion of due diligence. 
 
The joint venture parties intend to fast track the Bullabulling project to 
bankable feasibility within twenty four months at an estimated budget of 
Australian A$ 2.5 million. 
 
Development and exploration work plans are currently being advanced with the 
aim of updating the resource and identifying additional resources to grow the 
project. The development plans will concentrate on accessing higher grade ore 
as well as lower cost surface ores to allow rapid payback of capital invested. 
 
Drilling to increase and further delineate the current resources will start 
within four months. A detailed structural study of the project to better 
understand the geological controls of mineralisation is currently underway. 
 
Bullabulling deposit: 
 
Gold mineralisation at Bullabulling is open in all directions, particularly at 
depth, where previous resource drilling is scarce beyond vertical depth of 50 
metres. There are over 13,000 drill holes in Bullabulling project with an 
average depth of only 34 metres. 
 
High grade targets beneath and between the existing pits have been identified 
during the due diligence work. These include the following: 
 
Dickson pit:     4 m @ 14.5 g/t Au, 
 
Hobbit pit:      9 m @ 10.5 g/t Au, 
 
Edwards pit:     9 m @ 11.9 g/t Au, 
 
Endeavour pit:   3 m @ 21.2 g/t Au, 
 
Bacchus pit:     7 m @ 77 g/t Au, 
 
                 5 m @ 14 g/t Au, 
 
                 4 m @ 5.1 g/t Au, 
 
                 3 m @ 9.2 g/t Au 
                 and 
 
                 3 m @ 4.4 g/t Au 
 
It is expected that follow up exploration targeting these high grade 
mineralisation zones will upgrade the current resource which is: 
 
Resource Category         Tonnes           Grade g/t Au     Contained Gold oz. 
 
Measured                 4,865,000             1.51               237,000 
 
Indicated                4,159,000             1.35               180,800 
 
Inferred                  284,000              1.52               13,900 
 
TOTAL                    9,308,000             1.44              431,600* 
 
JORC compliant as at 1998 
 
Approximately 14,000oz gold has been produced by dump-leach between 2002 and 
the present time. Previous carbon-in-pulp (CIP) production undertaken between 
1998 and 2002 is estimated at 7.9 million tonnes at an average grade of 1.45 g/ 
t Au (371,000 oz.). 
 
Funding: 
 
The Company has received the final payment for the sale of its Nimu Project at 
its Chinese bank. GGG is now in the process of repatriating this money back to 
the United Kingdom, which is subject to standard statutory and tax clearance 
requirements which GGG believes it has met. It is estimated that approximately 
GBP4.5 million in total will be repatriated, of which GBP0.5 million has been 
received into GGG's UK bank accounts to date. 
 
The technical information in this news release is based on the information 
provided by Auzex Resources Limited compiled by John Lawton who is a member of 
The Australasian Institute of Mining and Metallurgy. He is fulltime employee of 
Auzex and has sufficient experience that is relevant to the style of 
mineralisation and type of deposit under consideration and to the activity 
which he is undertaking to qualify as a Competent Person as defined in the 2004 
Edition of the "Australasian Code for Reporting of Exploration Results, Mineral 
Resources and Ore Reserves." John Lawton consents to the inclusion in the 
report of the matters based on this information in the form and content in 
which it appears." 
 
For further information, please contact: 
 
Central China Goldfields plc                    Westhouse Securities 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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