Encouraging First Results
August 07 2007 - 3:00AM
UK Regulatory
RNS Number:6339B
Leyshon Resources Limited
07 August 2007
7 August 2007
Encouraging first results from latest drill programme
Leyshon Resources Limited ("Leyshon") (AIM & ASX: LRL) is pleased to announce
the first results from its major drill programme at the Zheng Guang gold project
in Heilongjiang, northeast China which is designed to upgrade and extend
resources.
The assay results from the first 4 diamond drill holes of the 70 holes drilled
to date have been received. The holes were drilled on the western boundary of
the Main Ore Zone between sections 40350 and 49400 north. Three of these holes,
ZGD 169,175 and 181 were drilled on section 49325 and one hole, ZGD 180 on
section 49375.
Significant intersections include:
ZGD180 29.5 metres at 2.6 g/t gold, 8.4 g/t silver and 1.0 % zinc
Incl. 4.0 metres at 12.0 g/t gold, 16.3 g/t silver and 1.20 % zinc
ZGD169 14.7 metres at 1.2 g/t gold, 9.5 g/t silver and 1.1% zinc
ZGD 175 9.5 metres at 1.0 g/t gold, 6.7 g/t silver and 2.6% zinc
ZGD 181 2 metres at 4.9 g/t gold, 29.2 g/t silver and 4.3% zinc (results for
only part of hole)
As previously announced some of these holes were drilled beyond designed depth
due to intersecting greater widths of mineralization and this has been confirmed
with thick above cut-off grade mineralization intersected with the northernmost
hole, ZGD180. Details are presented in the table below.
Hole From To Interval g/t Au g/t Ag % Zn
ZGD169 147.0 149.0 2.0 0.6 4.7 0.6
ZGD169 220.4 235.0 14.7 1.2 9.5 1.1
ZGD175 265.3 274.8 9.5 1.0 6.7 2.6
ZGD180 164.5 165.5 1.0 7.3 47.3 5.2
ZGD180 168.5 170.5 2.0 0.2 4.0 1.0
ZGD180 212.5 215.5 3.0 0.2 1.6 0.4
ZGD180 249.5 279.0 29.5 2.6 8.4 1.0
incl 264.0 268.0 4.0 12.0 16.3 1.2
ZGD180 283.5 285.5 2.0 0.2 4.1 1.1
ZGD180 306.0 309.0 3.0 0.9 10.1 1.1
ZGD181 206.5 208.5 2.0 4.9 29.2 4.3
The diamond drilling programme continues to progress well ahead of scheduled
with four drill rigs completing a total of 14,200 metres of the extended 17,000
metre programme to date. Assay results are expected to be received on a
continuous basis from now until the end of the programme in late October.
The reverse circulation programme has completed 12,300 metres of the scheduled
22,000 metre programme which is designed to delineate oxide resources at the
Main Ore Zone, test seven previously identified geochemical anomalies and
sterilize areas for mine development and construction.
The infill and sterilisation programmes are proceeding as expected. The initial
results from the testing of the seven geochemical anomalies are tabled below.
The encouraging results from ZG West and ZG East will be followed up with
diamond holes later in the programme.
Hole From To m g/t Au g/t Ag % Zn* notes
ZGR1198 13 16 3 3.7 4.7 0.1 ZG East
ZGR1197 2 6 4 2.8 1.7 0.1 ZG East
ZGR1196 1 4 3 3.1 5.2 0.2 ZG East
ZGR1217 19 27 8 0.4 3.1 0.2 ZG South
ZGR1221 11 13 2 7.6 12.3 0.2 ZG South
ZGR1221 20 28 8 1.2 4.8 0.2 ZG South
ZGR1206 12 16 4 2.8 10.2 0.2 ZG East
ZGR1148 1 11 10 1.0 24.5 0.0 ZG West
ZGR1148 15 29 14 0.8 4.6 0.3 ZG West
ZGR1162 17 19 2 22.4 18.1 0.1 ZG Far East
ZGR1352 23 26 3 8.0 10.9 0.0 ZG West
ZGR1359 1 7 6 0.8 9.6 0.1 ZG West
ZGR1362 22 28 6 4.3 10.8 0.1 ZG West
ZGR1318 5 24 19 1.5 3.6 0.2 ZG South
*Due to oxidation, zinc values are generally low near surface
The reverse circulation rig is currently at the Zheng Guang North discovery
where it is following up last year's successful programme with 4,000 metres of
drilling aimed at delineating potential extensions in all directions.
2006 Exploration Programme
Several hundred metres of uncut core from the 2006 programme has now been
logged, cut and the first assays received assay are tabled below. Significant
parts of this core, previously considered poorly or un-mineralised, has come
back with above cut-off grade mineralisation.
Hole From To Interval g/t Au g/t Ag % Zn
ZGD011 27.0 30.0 3.0 0.5 4.7 0.5
ZGD075 2.0 5.0 3.0 0.3 2.3 0.3
ZGD087 0.0 4.0 4.0 1.2 16.7 0.0
ZGD090 179.0 182.0 3.0 1.1 4.1 0.3
ZGD152 51.0 53.0 2.0 1.3 9.9 0.5
ZGD152 56.0 62.0 6.0 3.0 23.3 2.7
ZGD152 69.0 73.0 4.0 7.1 19.8 1.3
ZGD152 82.0 87.0 5.0 0.6 5.0 0.9
ZGD152 137.0 140.0 3.0 0.5 9.0 1.2
ZGD152 144.0 146.0 2.0 0.7 2.3 0.1
ZGD153 117.0 124.0 7.0 1.7 9.9 1.5
ZGD153 183.0 186.0 3.0 2.2 10.2 0.7
ZGD153 237.0 241.0 4.0 0.5 5.2 0.8
ZGD153 258.0 264.0 6.0 1.5 6.9 0.5
ZGD012 23.0 25.0 2.0 0.7 5.0 0.5
ZGD012 42.0 44.0 2.0 0.6 2.9 0.8
ZGD153 196.0 198.0 2.0 0.4 3.0 1.1
ZGD153 205.0 207.0 2.0 0.5 2.5 0.2
ZGD153 211.0 213.0 2.0 0.7 5.1 1.0
ZGD125 158.0 160.0 2.0 0.6 1.6 0.2
ZGD001 77.0 86.0 9.0 0.3 5.7 0.2
ZGD015 0.0 5.0 5.0 0.4 2.1 0.3
ZGD079 100.0 103.0 3.0 0.6 4.4 0.0
ZGD093 130.0 135.0 5.0 0.5 3.8 0.6
Managing Director Paul Atherley commented: "We are delighted with the rapid
progress of this year's exploration programme and the very encouraging early
results."
For further information contact:
Leyshon Resources Limited
Paul Atherley - Managing Director
Tel: +86 137 1800 1914
Mob: +61 417 475 038
Pelham Public Relations
Charles Vivian
Tel: +44 (0)207 743 6672
Mob: +44 (0)7977 297 903
Candice Sgroi
Tel: +44 (0)207 743 6376
Mob: +44 (0)7894 462 114
Seymour Pierce
Jonathan Wright
Tel: +44 (0)207 107 8050
http://www.leyshonresources.com
Background Information
Leyshon is fully engaged in China with its main operating office in Beijing its
Chairman, Managing Director and Chief Operating Officer all based in China and
with over 80% of employees who are either native Chinese or Mandarin speaking.
The company is rapidly progressing the Zheng Guang gold zinc project to
production status and is aiming to jointly develop it as first ever Sino Foreign
owned mine in the mineral rich province of Heilongjiang's in 2008.
The project benefits from exceptional infrastructure as it is located within a
well established coal and copper mining community with rail, power, water and
mining contractor services immediately available.
In March 2007 Hellman and Schofield Pty Ltd of Australia reported a JORC
compliant recoverable resource estimate of 1.21 million ounces of gold, 3.72
million ounces of silver and 94,000 tonnes of zinc of which 50% was reported in
the Measured and Indicated category.
The gold equivalent of this resource estimate is over 1.7 million ounces and the
discovery cost to date has been less than US$5 per ounce reflecting the lack of
modern exploration in a major gold belt which has produced over 20 million
ounces from mainly surface and alluvial methods.
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.
Drill Hole details
Drill Hole No. Grid Co-ord N Grid Co-ord E Azim / Bearing* Final Depth (m)
ZGR1148 8911.07 48929.12 0/90 30
ZGR1162 10832.99 50407.54 0/90 30
ZGR1196 10640 49050 0/90 30
ZGR1197 10625 49050 0/90 30
ZGR1198 10600 49050 0/90 30
ZGR1206 10300 49200 0/90 30
ZGR1217 9840 48700 0/90 30
ZGR1221 9840 48750 0/90 30
ZGR1318 9820 48875 0/90 25
ZGR1352 8927.1 48941.7 0/90 30
ZGR1359 8919.6 48885.1 0/90 30
ZGR1362 8871.5 48848.6 0/90 30
Drill Hole No. Grid Co-ord N Grid Co-ord E Azim / Bearing* Final Depth (m)
ZGD011 49203.13 9999.33 90/86 144.42
ZGD031 49252.34 9881.32 90/85 209.71
ZGD087 49362.57 10056.19 0/90 40.05
ZGD152 49353.62 9943.88 270/60 184.80
ZGD153 49397.20 9862.99 270/71.5 307.30
ZGD169 49325 9700 90/60 307.85
ZGD175 49325 9660 90/60 345.00
ZGD180 49375 9660 90/60 358.30
ZGD181 49325 9620 90/60 382.85
Notes on presentation of exploration results:
* Diamond drill Intersections > 2m and greater than 0.6g/t gold
equivalence.
* Gold equivalence is based on 1 g/t gold = 1% Zn or 57 g/t Ag based on
potential net recoverable values based on gold price of US$650/oz, silver of
US$13/oz and Zinc US$3000/t and estimates of treatment charges and
recoveries
* RC holes based on > 2m intersections and > 0.3 g/t as used previously for
oxide ore
* No cutting of high values
* Gold analyses are aqua regia digest which has been shown to understate
gold grade compared to fire assay by approximately 10%
* Drill hole coordinates in attached table
Competent Persons Statement
The information in this report relating to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by Richard Seville, a
director of the Company, who is a member of the Australasian Institute of Mining
and Metallurgy.
Mr Seville 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 Seville 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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