Confirm continuity and grade
September 19 2007 - 3:01AM
UK Regulatory
RNS Number:0857E
Leyshon Resources Limited
19 September 2007
19 September 2007
Drill results confirm continuity and high grade near surface material
Leyshon Resources Limited ("Leyshon") (AIM & ASX: LRL) is pleased to announce
the latest drill results from a major drill programme at the Zheng Guang gold
zinc project Heilongjiang, northeast China.
The diamond and the reverse circulation drilling programmes are progressing well
ahead of schedule and are expected to upgrade the 1.21 million ounces of gold,
3.72 million ounces of silver and 94,000 tonnes of zinc resource estimate.
The diamond programme has completed 88 holes for 16,568 metres of the planned
17,000 metres and the reverse circulation programme has completed 658 holes for
19,679 metres of the planned 22,000 metres.
Results from the latest 12 holes of the closely spaced infill diamond drilling
in the Main Ore Zone are detailed in Table 3 and have confirmed the continuity
of the mineralisation both down dip and between sections. All sections appear to
be in line with expectations, indicating that the bulk of the resource will be
upgraded as expected to Measured and Indicated status.
Results from the reverse circulation results are from an infill programme
targeting near surface mineralisation in the Main Ore Zone and exploration at
Zheng Guang North. The highlights of the results are the excellent widths and
grade of the near surface mineralisation, which is in line with previous
drilling results. The results are detailed in Table 1.
A regional programme designed to identify immediate drill targets has commenced
on the recently acquired 80 km2 exploration licence adjacent to the eastern
boundary of the Zheng Guang licence.
Three further licences with an area totaling 85 km2 are at the final stage of a
lengthy approval process. These licence applications have been subject to a
number of exclusions for existing operating gold and coal mines and have been
applied for directly by the joint venture company.
Managing Director Paul Atherley commented: "We are delighted that the closely
spaced infill drilling has confirmed the continuity of the mineralisation
between sections in the Main Ore Zone.
We expect that the bulk of the resource will be upgraded to Measured and
Indicated status by the end of the programme ahead of the project's development
next year.
The excellent widths and grade of the near surface material will be a focus for
us in our mine design"
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 the first ever Sino
Foreign owned mine in the mineral rich province of Heilongjiang 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.
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.
Table 1 - RC drilling results
Hole From To Metres Au Ag Zn
-------- ------- ------- ------- ------- ------- -------
ZGR1232 7 9 2 0.5 1.3 0.5
-------- ------- ------- ------- ------- ------- -------
12 19 7 10.3 8.2 0.1
-------- ------- ------- ------- ------- ------- -------
incl 12 15 3 22.4 16.1 0.1
-------- ------- ------- ------- ------- ------- -------
23 28 5 1.2 4.6 0.2
-------- ------- ------- ------- ------- ------- -------
ZGR1233 1 9 8 2.5 7.3 0.0
-------- ------- ------- ------- ------- ------- -------
ZGR1234 2 17 15 1.8 5.6 0.2
-------- ------- ------- ------- ------- ------- -------
incl 14 17 3 5.3 14.1 0.0
-------- ------- ------- ------- ------- ------- -------
ZGR1235 20 30 10 4.8 17.7 0.1
-------- ------- ------- ------- ------- ------- -------
ZGR1236 1 16 15 0.5 1.8 0.3
-------- ------- ------- ------- ------- ------- -------
ZGR1238 7 19 12 2.5 3.6 0.2
-------- ------- ------- ------- ------- ------- -------
ZGR1244 19 26 7 2.4 11.2 0.4
-------- ------- ------- ------- ------- ------- -------
ZGR1247 5 15 10 0.6 4.3 0.0
-------- ------- ------- ------- ------- ------- -------
ZGR1249 4 18 13 2.9 12.4 0.2
-------- ------- ------- ------- ------- ------- -------
ZGR1252 2 12 10 1.6 18.2 0.0
-------- ------- ------- ------- ------- ------- -------
Table 2 - Collar positions for RC holes
Hole ID Northing Easting Depth Declination
ZGR1232 49340 9910 30 -90
ZGR1233 49320 9950 30 -90
ZGR1234 49320 9940 30 -90
ZGR1235 49320 9930 30 -90
ZGR1236 49320 9920 30 -90
ZGR1238 49320 9900 30 -90
ZGR1244 49360 10070 30 -90
ZGR1247 49360 10100 30 -90
ZGR1249 49360 10120 30 -90
ZGR1252 49360 10150 30 -90
Table 3 - Diamond Drill Results
Hole From To Metres Au (ppm) Ag (ppm) Zn (%)
ZGD171 76 81 5 1.7 3.2 0.0
281 289 8 0.7 4.6 0.4
ZGD179 44.5 47.5 3 1.4 2.7 0.0
104 106.5 2.5 2.0 13.3 1.4
125 131 6 3.7 15.1 1.2
133.5 141.5 8 3.4 17.6 1.5
incl. 133.5 138.5 5 4.8 25.8 2.4
169 171 2 6.4 26.5 1.2
ZGD181 306.5 311.5 5 1.0 7.3 0.9
340.5 347.5 7 1.4 8.8 0.2
incl. 346 347.5 1.5 4.9 26.2 0.0
ZGD184 130 148 18 2.3 12.6 1.20
incl. 131 134 3 7.8 34.7 4.3
170 174 4 2.6 10.0 0.4
ZGD185 103.5 115 11.5 0.8 3.0 0.2
118 126 8 3.3 13.8 1.0
135 142 7 1.9 6.2 0.7
ZGD186 80 84 4 0.5 3.2 0.0
212 216 4 1.4 9.7 1.0
218.5 220.5 2 4.6 34.0 3.4
ZGD187 146 149 3 4.5 23.2 2.7
158 181.5 23.5 1.9 13.6 1.8
incl 159 162 3 5.8 36.2 6.1
ZGD188 12.5 18 5.5 0.7 3.5 0.0
152 159 7 3.0 11.0 0.8
incl. 157 159 2 7.5 24.6 1.8
ZGD188 166.5 171 4.5 6.4 12.4 0.7
incl. 169 171 2 14.0 25.3 1.4
183 186 3 0.5 1.4 0.0
202 205 3 2.8 19.0 1.0
233 237 4 2.7 3.9 0.1
ZGD189 130 140 10 1.2 3.0 0.2
159 163 4 0.7 1.9 0.2
198 201.5 3.5 1.1 4.3 0.7
216 220 4 2.4 6.6 0.3
ZGD190 228 234 6 1.3 8.4 0.4
237 241 4 1.0 5.3 0.5
247 250 3 7.0 40.7 2.5
261.5 285 23.5 2.3 11.7 1.9
incl 276.5 285 8.5 4.6 19.4 3.8
ZGD193 252.5 264.5 12 1.3 8.4 0.8
282 283.5 1.5 1.5 13.3 1.8
288.5 292 3.5 0.6 4.8 0.1
317 320 3 0.6 4.8 0.3
ZGD211 70 72 2 6.2 16.5 1.1
76 84 8 0.8 3.7 0.1
ZGD211 91 99 8 3.6 18.3 2.3
ZGD211 114 119.5 5.5 1.1 4.3 0.4
ZGD211 167 171 4 2.3 4.5 0.3
ZGD211 173.5 182 8.5 1.7 8.3 1.0
Table 4 - Collar positions for Diamond Drill holes
Hole North East Azimuth Declination Depth
ZGD171 49375 9620 90 -60 364.5
ZGD179 49375 9820 90 -60 241.5
ZGD181 49325 9620 90 -60 382.9
ZGD184 49375 9780 90 -60 226.8
ZGD185 49325 9820 90 -60 236.15
ZGD186 49375 9700 90 -60 295.7
ZGD187 49325 9740 90 -60 294.5
ZGD188 49375 9740 90 -60 259.8
ZGD189 49325 9780 90 -60 251.05
ZGD190 49425 9620 90 -60 347.1
ZGD193 49275 9660 90 -60 340.6
ZGD211 49425 9780 90 -60 202.81
North and east are in local grid.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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