Results confirm continuity
October 02 2007 - 3:00AM
UK Regulatory
RNS Number:9363E
Leyshon Resources Limited
02 October 2007
2 October 2007
Drill results confirm continuity, Zheng Guang North extended
Leyshon Resources Limited ("Leyshon") (AIM & ASX: LRL) is pleased to announce
the latest results from a major drill programme at the Zheng Guang gold zinc
project Heilongjiang, northeast China.
Three consecutive holes, ZGD201, ZGD207 and ZGD235 drilled on section 49425
north have intersected strong mineralisation with cumulative down hole
intersections of 68 metres, 41.5 metres and 56.5 metres, respectively,
demonstrating good continuity both down dip and between important sections in
the centre of the Main Ore Zone.
Results included:
* 32 metres at 3.1 g/t gold, 19.0 g/t silver and 1.6 % zinc in hole ZGD235,
* 24 metres at 1.7 g/t gold, 9.6 g/t silver and 0.9% zinc in ZGD201, and
* 12 metres at 4.1 g/t gold, 18.8 g/t silver and 2.6% zinc in hole ZGD207.
ZGD204 was drilled on the adjacent section 49275 north and as expected has
confirmed the good continuity between the sections in this area with 41 metres
of cumulative intercept. Results included 8 metres at 3.1 g/t gold, 9.2 g/t
silver and 0.8% zinc, and 14 metres at 2.0 g/t gold, 5.1 g/t silver and 0.9%
zinc.
Full results are presented in Table 1.
Further encouraging results were received from Reverse Circulation drilling at
the Zheng Guang North deposit with the mineralisation being intersected in all
directions.
The deposit located 750 metres to the north of the Main Ore Zone was discovered
in last year's exploration programme and is showing good potential to be an
immediate source of near-surface oxide material. The better intersections are
tabled below with detailed results in Table 2. Further results are awaited from
drilling in the south west and south east.
Hole From To Metres Au g/t Ag g/t Zn %
ZGR1532 21 24 3 22.8 10.9 0.3
ZGR1558 14 18 4 2.5 14.4 0.1
ZGR1567 4 9 5 2.3 9.0 0.1
ZGR1570 10 17 7 3.1 17.3 0.1
ZGR1577 2 11 9 2.0 10.8 0.1
ZGR1590 19 28 9 4.9 11.9 0.2
The diamond and reverse circulation drilling programmes continue to progress
well ahead of schedule and both programmes are likely to be extended to increase
the infill density in important areas and test additional targets.
The programmes have been designed to upgrade the bulk of the 1.21 million ounces
of gold, 3.72 million ounces of silver and 94,000 tonnes of zinc resource
estimate to the Measured and Indicated category ahead of project development in
2008 and to test exploration targets across the lease.
Managing Director Paul Atherley commented: "It is pleasing that the closely
spaced infill drilling programme is continuing to confirm the continuity of the
Main Ore Zone mineralisation. Zheng Guang North is beginning to shape up as an
additional source of near-surface, good grade oxide material. "
For further information contact:
Leyshon Resources Limited
Paul Atherley - Managing Director
Tel: +86 137 1800 1914
Mob: +61 417 475 038
Pelham Public Relations
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 available locally.
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.
Table 1 - Diamond Drill Results
Hole From To Metres Au g/t Ag g/t Zn %
ZGD201 91.0 92.0 1.0 7.1 7.9 0.2
ZGD201 111.0 115.0 4.0 0.7 5.6 0.2
ZGD201 115.0 118.0 3.0 0.3 2.5 0.2
ZGD201 120.0 124.0 4.0 1.2 7.7 0.6
ZGD201 127.0 135.0 8.0 0.8 5.0 0.4
ZGD201 163.0 187.0 24.0 1.7 9.6 0.9
ZGD201 190.0 191.0 1.0 0.3 3.7 0.3
ZGD201 206.0 208.0 2.0 2.2 19.4 2.9
ZGD201 219.0 228.0 9.0 1.0 6.3 0.7
ZGD201 231.0 243.0 12.0 2.9 12.6 0.7
ZGD207 51.0 52.0 1.0 2.0 18.7 2.2
ZGD207 87.0 88.0 1.0 0.3 5.0 1.6
ZGD207 95.0 96.0 1.0 7.7 41.0 1.4
ZGD207 112.0 114.0 2.0 0.7 3.4 0.0
ZGD207 121.5 122.5 1.0 0.6 3.5 0.4
ZGD207 131.0 135.0 4.0 1.1 7.4 0.5
ZGD207 137.5 138.5 1.0 2.8 10.0 0.7
ZGD207 149.0 161.0 12.0 4.1 18.8 2.6
ZGD207 186.5 187.5 1.0 2.4 12.6 1.3
ZGD207 188.5 189.5 1.0 1.0 7.3 0.9
ZGD207 195.0 200.0 5.0 3.3 15.1 2.4
ZGD207 207.0 214.0 7.0 0.8 9.4 0.7
ZGD207 226.5 231.0 4.5 0.9 7.6 0.6
ZGD235 55.0 56.0 1.0 0.3 3.8 0.3
ZGD235 78.0 81.0 3.0 2.6 7.1 0.4
ZGD235 88.0 89.0 1.0 0.6 9.3 1.0
ZGD235 95.0 104.0 9.0 1.0 7.8 1.0
ZGD235 113.0 145.0 32.0 3.1 19.0 1.6
ZGD235 149.0 151.0 2.0 0.7 4.2 0.3
ZGD235 184.5 187.0 2.5 1.6 8.8 1.3
ZGD235 191.0 192.0 1.0 1.0 7.4 0.9
ZGD235 199.5 202.5 3.0 1.3 5.5 0.5
ZGD235 210.0 211.0 1.0 1.1 11.2 4.0
ZGD235 220.0 221.0 1.0 0.6 3.4 0.4
ZGD204 127.0 135.0 8.0 3.1 9.2 0.8
ZGD204 135.0 136.0 1.0 0.7 2.0 0.1
ZGD204 144.0 145.0 1.0 0.7 5.1 0.4
ZGD204 148.0 149.0 1.0 0.6 2.1 0.2
ZGD204 151.0 165.0 14.0 2.1 5.2 0.9
ZGD204 173.0 178.0 5.0 2.2 6.4 0.5
ZGD204 187.0 188.0 1.0 2.2 5.1 0.1
ZGD204 192.0 198.0 6.0 1.1 7.4 0.5
ZGD204 200.0 201.0 1.0 0.5 6.1 0.5
ZGD204 210.0 211.0 1.0 0.5 5.4 0.1
ZGD204 212.0 214.0 2.0 2.8 18.7 1.1
Hole Easting Northing Azimuth Dip Depth
ZGD201 49425 9700 90 -60 285.81
ZGD204 49275 9740 90 -60 247.85
ZGD207 49425 9740 90 -60 260.81
ZGD235 49425 9760 90 -60 245.30
Table 2 - Zheng Guang North RC Results
Hole From To Metres Au g/t Ag g/t Zn %
ZGR1532 21 24 3 22.8 10.9 0.3
ZGR1546 16 22 6 1.0 6.7 0.3
ZGR1552 18 23 5 0.7 6.3 0.3
ZGR1555 3 9 6 0.4 0.3 0.1
ZGR1558 14 18 4 2.5 14.4 0.1
ZGR1561 15 19 4 1.4 7.6 0.1
ZGR1567 4 9 5 2.3 9.0 0.1
ZGR1570 1 7 6 0.7 2.5 0.1
ZGR1570 10 17 7 3.1 17.3 0.1
ZGR1577 2 11 9 2.0 10.8 0.1
ZGR1590 19 28 9 4.9 11.9 0.2
Hole Northing Easting Azimuth Dip Depth
ZGR1532 50181.6 9807.5 0 -90 30
ZGR1546 50165.5 9719.2 0 -90 30
ZGR1552 50237.1 9615.1 0 -90 30
ZGR1555 50141.3 9687.3 0 -90 30
ZGR1558 50116.5 9654.9 0 -90 30
ZGR1561 50212.7 9581.7 0 -90 30
ZGR1567 50093.2 9623.3 0 -90 30
ZGR1570 50265.0 9417.2 0 -90 30
ZGR1577 50377.0 9332.4 0 -90 30
ZGR1590 50276.8 9332.3 0 -90 30
Notes on presentation of exploration results:
* Diamond drill intersections > 1m 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%
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' and under the AIM mining and oil guidelines. 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
DRLFSLSDESWSEIS
Leyshon Resources (LSE:LRL)
Historical Stock Chart
From Oct 2024 to Nov 2024
Leyshon Resources (LSE:LRL)
Historical Stock Chart
From Nov 2023 to Nov 2024
