Drilling Report
September 14 2006 - 3:00AM
UK Regulatory
RNS Number:9410I
Leyshon Resources Limited
14 September 2006
Leyshon Resources Limited
14 September, 2006
Leyshon Resources Ltd intersects 600.75 g/t gold (19 ounces) bonanza grade
epithermal vein at its Zheng Guang gold-silver-zinc project, China
Leyshon Resources Limited ("Leyshon") (ASX & AIM: LRL) today reports that it has
intersected a bonanza grade epithermal gold vein during its drill programme to
extend the 1.2 million ounce Zheng Guang gold-zinc-silver project in
Heilongjiang, northeast China.
Results from hole ZGD113 located 200 metres to the north west of the Main Ore
Zone includes a one metre intersection grading 600.75 g/t gold, 445 g/t silver
and 5.34% zinc which equates to approximately 19 ounces gold, 14 ounces silver
and over 5% zinc per tonne. Repeat assays on the gold were 576, 598, 601 and 628
g/t gold. Full results are detailed below.
ZGD113 is the seventh diamond drill hole to be assayed of the 38 holes drilled
to date and the result is one of a number of high grade gold and zinc
intersections obtained during this round of drilling including ZGD102 11 metres
grading 8.32 g/t gold, 29 g/t silver and 2.46% Zinc (including one metre at
45.65 g/t gold, 157 g/t silver and 17.27% zinc). Further results on the
remaining drill holes are expected shortly.
Zheng Guang has been interpreted as carbonate base metal gold deposit. These
types of deposit represent some of the most prolific producers in the SW Pacific
Rim and elsewhere. High to bonanza gold grades, such as those intersected in
hole ZGD113, can be expected to form part of this style of mineralisation.
A feature of Zheng Guang is the strong positive correlation between the high
grade gold and zinc mineralisation which is reflected in the high zinc grade in
ZGD113.
Angled drilling in this year's programme is providing a better understanding of
the structural controls and a more accurate estimate of the true width and grade
of the steeply dipping high grade gold and zinc veins that make up a large
proportion of the Zheng Guang resource.
Managing Director Paul Atherley commented: "In line with our strategy to expand
the 1.2 million ounce Main Ore Zone, and finalise the mine development studies,
these drilling results bode well for the continued development of our project
closer to a production decision ."
This year's programme is the largest to be undertaken in Heilongjiang in recent
years and comprises 10,000 metres of diamond drilling and 20,000 metres of
reverse circulation drilling. The programme is expected to increase the initial
inferred resource estimate of 930,000 ounces gold, 64,000 tonnes zinc and 2.6
million ounces silver (1.2 million ounce gold equivalent based on 1 g/t gold =
1% zinc) which was estimated on the results from the 2005 programme.
Leyshon has firmly established its presence in China over the past three years
and is pioneering the opening up of the mineral rich province of Heilongjiang to
modern exploration techniques and foreign investment.
Leyshon has recently entered into a 20 year joint venture agreement with the
Qiqiha'er Brigade for the financing development and mining of the Zheng Guang
Project. Leyshon remains one of the very few foreign resource companies with its
main operating office in Beijing.
For further information, please visit our website at www.leyshonresources.com,
or contact:
Paul Atherley - Managing Director
patherley@leyshonresources.com
Tel: +86 137 1800 1914
Mob: +61 417 475 038
Leesa Peters - Conduit PR
Tel: +44 (0) 20 7429 6600
Mob: +44 (0) 781 215 9885
Assays above 0.5g/t Gold Cut Off
Drill Hole From To Metres Au Ag Zn
Number
(m) (m) (g/t)* (g/t) (%)
ZGD108 10 24 14 1.48 6 0.15
29 30 1 1.09 3 0.05
37 43 6 1.36 9 1.06
49 50 1 5.26 21 1.84
62 66 4 0.50 3 0.15
72 75 3 8.89 18 0.93
Incl. 73 74 1 21.35 38 1.67
98 100 2 4.28 14 0.62
104 107 3 5.73 107 0.35
Incl. 104 105 1 11.30 147 0.85
ZGD113 163 164 1 0.61 5 0.02
199 200 1 0.68 3 0.03
218 221 3 2.98 13 0.90
Incl. 219 220 1 7.46 32 2.10
224 225 1 2.00 11 0.53
240 241 1 0.61 4 0.27
250 259 9 0.74 5 1.30
273 274 1 6.23 9 1.20
274 275 1 600.75 445 5.34
275 292 17 1.75 10 1.53
Incl. 290 291 1 8.68 50 8.33
Using 0.5g/t cut off and no more than 2 metres of internal waste.
Data from the top of ZGD108 (reported previously) is shown for completeness.
* Preliminary Au results using aqua regia digest on AAS determination on 50gm
charge. Results are subject to confirmation by repeat assay from SGS laboratory
in Tianjin, China.
To 12 September, 38 diamond drill holes totalling 9,882 metres have been
completed. The most recent hole locations are shown below.
Drill Hole No Grid Grid Azim / Bearing* Final Depth (m)
Co-Ord N Co-Ord E
ZGD133 49,400 9,590 -60/090 363.25
ZGD134 49,500 9,550 -60/090 376.30
ZGD135 49,150 9,980 -60/270 129.90
ZGD136 49,305 9,940 -60/270 161.85
ZGD137 49,000 9,825 -60/090 172.35
ZGD138 49,100 9,990 -60/090 85.90
ZGD139 49,550 9,470 -60/090 382.75
ZGD140 49,500 9,645 -85/090 319.70**
ZGD141 49,100 9,910 -60/090 118.15**
ZGD142 49,400 9,550 -60/090 247.60**
ZGD143 49,350 9,650 -60/090 2.00**
* Bearings are all grid bearings ** Currently being drilled as at 12 September.
The information in this report relating to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by Mr Malcolm Wilson,
a full time employee of Leyshon, who is a member of the Australasian Institute
of Mining and Metallurgy.
Mr Wilson has sufficient experience which 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'. Mr Wilson consents to the inclusion in the report
of the matters based on his information in the form and context in which it
appears.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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