Drilling Report
November 30 2006 - 2:00AM
UK Regulatory
RNS Number:9681M
Leyshon Resources Limited
30 November 2006
30 November 2006
Leyshon intersects over 100 metres of gold and zinc mineralisation at its Zheng
Guang project, China
Leyshon Resources Limited ("Leyshon") (AIM & ASX: LRL) today announces that it
has intersected over 100 metres of gold and zinc mineralisation including some
very high grade zinc assays during its drill programme to extend and upgrade
resources at the Zheng Guang project in Heilongjiang, northeast China.
The latest results from 5 diamond drill holes include ZGD128 which intersected a
50 metre wide zone of stacked veins at low to moderate angles and confirmed the
down-dip continuity of the mineralisation reporting a cumulative length of 103
metres of gold and zinc mineralisation from 34 metres below surface.
Significant intersections include:
23 metres at 5.13 g/t gold, 1.41% zinc and 12g/t silver;
34 metres at 3.75 g/t gold, 4.64% zinc and 30g/t silver; and
12 metres at 4.23 g/t gold, 7.07% zinc and 34g/t silver.
The zinc assays were higher than expected and increased with depth. The highest
individual assay was 23.83% zinc from 252 - 253 metres (as well as 10.44g/t gold
and 77g/t silver).
Holes ZGD138 and ZGD141 were designed to test the mineralisation previously
found on line 49,100N. It has been previously reported, throughout the 2006
programme, that the change from sub-vertical to angle drilling has resulted in a
better intersection of the mineralised zones.
ZGD141 intersected similar gold grades to the vertical hole ZGD015, but with
much higher zinc values and over increased widths.
ZGD140 is a sub-vertical hole which has intersected over 30 metres of
mineralisation to a depth of 360 metres. Because of the different perspective
between angle and sub-vertical holes, mineralisation intersected by ZGD126 was
to the east of ZGD140 on line 49,450N.
The diamond drill programme has now concluded and to date assay results from 35
of the 50 holes drilled have been released. Further results from the remaining
holes will be reported as soon as they are received. The programme comprised a
total of 13,006 metres of mainly angled holes drilled 60 degrees to the east and
included two holes (ZGD152 and 153) which were drilled for metallurgical
purposes. Drill hole locations are shown below.
A reverse circulation drilling programme designed to test the economically
significant near surface oxide material is now complete and the results from the
16,200 metres of drilling will be reported as soon as they are received.
Managing Director Paul Atherley commenting today said "These latest results have
confirmed that the Main Ore Zone comprises broad zones of high grade gold and
zinc mineralisation which are open at depth and which we expect to have a
positive impact on the new resource estimate."
For further information contact:
Paul Atherley - Managing Director
Tel: +86 137 1800 1914
Mob: +61 417 475 038
http://www.leyshonresources.com
Leesa Peters/Jos Simson Conduit PR
Tel: +44 (0) 20 7429 6600
Mob: +44 (0) 781 215 9885
Background Information
Leyshon is rapidly advancing the Zheng Guang gold zinc project to production
status and is aiming to jointly develop it as the first ever Sino Foreign owned
mine in the mineral rich province of Heilongjiang.
Leyshon's partner, the Qiqiha'er Brigade of the Heilongjiang Bureau of Geology
and Mineral Resources, one of the largest organizations of its kind in China, is
providing a range of services to the joint venture from its complement of 4,000
technical staff, drill rigs, laboratory and other technical facilities. This
valuable support is enabling the project to rapidly move ahead on an extremely
cost effective basis.
This year's drill programme is the largest to be undertaken in Heilongjiang in
recent years and comprises 13,000 metres of diamond drilling and over 16,000
metres of reverse circulation drilling and is following up the highly successful
21,000 metres of drilling undertaken in 2004 and 2005.
This year's programme is expected to increase the initial JORC compliant
inferred resource estimate reported in May of this year of 930,000 ounces gold,
64,000 tonnes zinc and 2.6 million ounces silver (equivalent to 1.2 million
ounces of gold based on 1 g/t gold = 1% zinc). The estimate has been made by
resource specialists Hellman and Schofield of Australia and is based on the
results from the 2004 and 2005 programmes.
Leyshon has completed its expenditure requirements to earn its 70% interest and
has recently entered into a 20 year agreement with Qiqiha'er Brigade for the
financing, development and mining of the project.
Leyshon has its main operating office in Beijing and is one of the very few
foreign mining companies with its Chairman, Managing Director and Chief
Operating Officer all based in China.
Diamond Drilling Programme
Significant Assays at a 0.50 g/t Gold Cutoff
Drill Hole Number From To Metres Au Ag Zn
(m) (m) (g/t)* (g/t) (%)
ZGD128 34 36 2 0.92 7 1.16
42 46 4 0.40 1 0.06
68 70 2 3.57 19 3.14
94 95 1 11.35 30 1.93
100 102 2 3.83 25 4.49
Incl. 100 101 1 5.94 41 7.36
107 130 23 5.13 12 1.41
Incl. 113 114 1 19.63 15 0.85
Incl. 118 119 1 9.36 27 2.10
Incl. 121 123 2 13.77 46 4.89
Incl. 129 130 1 42.44 23 2.28
134 139 5 1.47 8 1.02
167 168 1 0.71 5 0.49
172 173 1 0.74 5 0.37
176 177 1 0.55 3 0.11
185 196 11 2.94 19 1.93
Incl. 193 196 3 9.33 60 6.64
202 236 34 3.75 30 4.64
Incl. 207 218 11 6.93 48 4.95
Incl. 228 231 3 3.33 37 12.01
239 241 2 1.14 11 2.52
246 258 12 4.23 34 7.07
Incl. 251 256 5 7.08 61 13.06
Incl. 252 253 1 10.44 77 23.83
279 280 1 0.80 10 1.10
295 296 1 0.59 5 0.89
ZGD138 No significant assays
ZGD139 340 341 1 0.52 1 0.04
ZGD140 80 81 1 0.81 14 0.31
233 234 1 9.16 8 0.33
259 260 1 3.64 24 3.50
269 271 3 1.71 11 0.71
275 276 1 1.37 14 1.50
291 296 5 2.35 13 1.52
Incl. 293 294 1 5.33 20 2.68
305 311 6 1.34 8 0.81
Incl. 310 311 1 6.40 28 3.50
316 321 5 0.73 3 0.66
327 328 1 0.81 9 3.17
335 336 1 0.82 17 2.92
341 342 1 3.90 19 4.04
347 348 1 3.61 28 9.19
351 352 1 0.85 6 1.05
355 357 2 0.86 5 0.10
ZGD141 1 2 1 0.55 3 0.08
13 14 1 1.68 6 0.31
17 23 6 2.25 19 0.78
23 26 3 0.05 1 2.78
42 43 1 1.63 7 0.09
54 55 1 1.26 7 0.98
59 60 1 0.61 3 0.12
Using 0.5g/t cut off and no more than 2 metres of internal waste.
* 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.
Drill Hole No. Grid Co-ord N Grid Co-ord E Azim / Bearing* Final Depth
(m)
ZGD128 49,400 9,865 -70 / 270 309.55
ZGD138 49,100 9,990 -60 / 090 85.90
ZGD139 49,550 9,470 -60 / 090 382.75
ZGD140 49,500 9,645 -85 / 090 401.10
ZGD141 49,100 9,910 -60 / 090 151.25
* All bearings are local grid bearings
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 the Company, 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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