Completed Ahead of Schedule
October 30 2007 - 3:00AM
UK Regulatory
RNS Number:5778G
Leyshon Resources Limited
30 October 2007
30 October 2007
Drill Programme Completed Ahead of Schedule
Leyshon Resources Limited ("Leyshon") (AIM & ASX: LRL) is pleased to announce
that its major drill programme at the Zheng Guang gold zinc project in
Heilongjiang, northeast China has been completed ahead of schedule.
The extended programme completed 109 diamond drill holes for 21,400 metres and
744 reverse circulation holes for 22,300 metres. The programme is expected to
successfully 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.
Mineralisation has been discovered on six out of seven of the geochemical
anomalies tested across the licence area. These potential new deposits will be
followed up in next year's programme.
Diamond Drilling
The latest results are from six infill diamond drill holes on sections 49275,
49425, 49225 North and one from Zheng Guang South (ZGD194). Refer to Table 1.
Hole ZGD194, the first diamond hole from the Zheng Guang South area, has
reported good width near surface intersections. Previous results had been
interpreted as narrow high grade, sub vertical veins; this result suggests that
the veins in the area may in fact be broader or that a new structure has been
intersected. Results from four other holes drilled in this area are awaited with
some anticipation.
Results from the holes drilled on 49275 North all showed some continuity down
dip and with good intersections, which is encouraging. The continuity in this
key area is expected to be improved with further closing the spacing from 40
metres to 20 metres. Results from holes drilled in sections 49425 and 49225
North were very much in line with expectations.
Reverse Circulation Drilling
Further encouraging results were received from Reverse Circulation drilling at
the Zheng Guang North deposit with the mineralisation continuing to extend in
all directions (refer Table 2). Holes ZGR1605, ZGR1610 and ZGR1611 all reported
excellent intersections including 8 metres at 17.6 g/t gold from 19 metres depth
in ZGR1605.
The deposit located 750 metres to the north of the Main Ore Zone was discovered
in last year's drill programme and is showing good potential to be an immediate
source of near surface oxide material .
ZGR1374 and ZGR1375 were drilled on the Zheng Guang East target confirming
mineralisation in a gold anomaly that runs 500 metres from the Main Ore Zone.
A soil sampling program over the recently acquired 85 km2 exploration licence
immediately adjacent to the Zheng Guang lease, has been completed and samples
sent for assay. The results will assist in identifying drill targets for testing
in next years programme.
Managing Director Paul Atherley commented: "We are delighted that this year's
extended drill programme has been completed ahead of schedule, allowing us to
focus on completing the logging and assaying of the core collected and generate
a revised resource estimate."
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.
Table 1 - Diamond Drill Results
(Please note that silver and zinc assays are pending for holes ZGD194, 196, 199,
209, 213 and 215)
Hole From To Metres Au g/t Ag g/t Zn % Comment
ZGD194 22 32 10 1.1 - - Preliminary only. (1)
ZGD196 145 148 3 0.7 - - Preliminary only. (1)
ZGD196 182 186 4 0.7 - - Preliminary only. (1)
ZGD196 192 196 4 1.5 - - Preliminary only. (1)
ZGD196 217 230 13 2.6 - - Preliminary only. (1)
ZGD196 239 248 9 1.1 - - Preliminary only. (1)
ZGD196 252 258 6 2.2 - - Preliminary only. (1)
ZGD199 215 220 5 2.8 - - Preliminary only. (1)
ZGD199 225 227 2 3.5 - - Preliminary only. (1)
ZGD205 31 35 4 0.6 - - Preliminary only. (1)
ZGD205 39 47 8 1.8 - - Preliminary only. (1)
ZGD205 50 59 9 1.8 - - Preliminary only. (1)
ZGD205 62 66 4 0.8 - - Preliminary only. (1)
ZGD205 95 97.5 2.5 4.8 - - Preliminary only. (1)
ZGD208 37.5 40 2.5 34.6 39.0 3.2
ZGD208 50 53 3 1.2 3.7 0.3
ZGD208 67 82 15 3.5 9.4 0.6
incl. 70 72 2 17.2 26.0 1.8
ZGD209 118 124 6 1.0 - - Preliminary only. (1)
ZGD209 157 160 3 7.5 - - Preliminary only. (1)
ZGD213 104 113 9 11.8 - - Preliminary only. (1)
incl. 109 112 3 30.3 - - Preliminary only. (1)
ZGD213 128.5 131 2.5 3.2 - - Preliminary only. (1)
ZGD213 134 139 5 2.3 - - Preliminary only. (1)
ZGD214 52.5 54.5 2 3.5 9.7 0.2
ZGD214 84.5 86.5 2 1.3 4.9 0.5
ZGD214 89 105 16 1.3 5.4 0.3
ZGD214 111 112 1 2.2 3.8 0.2
ZGD214 129 130 1 1.9 6.6 0.4
ZGD214 134 146 12 2.5 6.3 0.5
ZGD214 168.5 170 1.5 4.5 10.9 0.9
ZGD214 190 191 1 0.9 3.5 0.1
ZGD215 39 43 4 3.0 - - Preliminary only. (1)
ZGD219 39 41 2 0.9 4.4 0.5
ZGD219 72 77 5 0.6 4.7 0.4
ZGD224 116 118 2 15.8 26.9 3.0
ZGD224 172 176 4 2.7 10.5 0.6
ZGD224 190 197 7 3.7 12.4 0.8
(1) - Preliminary only. Awaiting Ag and Zn values.
Table 2 - RC Results
Hole From To Metres Au g/t Ag g/t Zn % Comments
ZGR1374 17 20 3 3.5 - - Preliminary
only. Awaiting
Ag and Zn
values
ZGR1375 9 11 2 0.4 - - Preliminary
only. Awaiting
Ag and Zn
values
ZGR1605 19 27 8 17.6 3.5 0.0
incl. 19 22 3 45.8 5.1 0.0
ZGR1610 13 17 4 1.3 9.8 0.1
ZGR1611 23 24 3 0.9 11.0 0.1
Diamond Drill Hole Information
Hole Northing Easting Azimuth Dip Depth
ZGD194 48850 9832 90 -60 122.31
ZGD196 49425 9660 90 -60 319.81
ZGD199 49275 9700 90 -60 289.85
ZGD205 49275 9940 90 -60 127.10
ZGD208 49275 9900 90 -60 208.60
ZGD209 49275 9780 90 -60 229.85
ZGD213 49275 9820 90 -60 240.85
ZGD214 49275 9860 90 -60 213.60
ZGD215 49425 9820 90 -60 219.51
ZGD219 49225 9900 90 -60 171.85
ZGD224 49225 9780 90 -60 226.25
RC Drill Hole Information
Hole Northing Easting Azimuth Dip Depth
ZGR1374 49200 10580 0 -90 30
ZGR1375 49200 10600 0 -90 30
ZGR1605 50711.3 9708.8 0 -90 30
ZGR1610 50551.5 9830.3 0 -90 30
ZGR1611 50519.2 9854.9 0 -90 30
Notes on presentation of exploration results:
* Drill intersections > 2m and greater than 0.6g/t gold equivalence for
diamond or RC sulphide intercepts or greater than 0.5 g/t gold for oxide
intercepts or if silver and zinc assays have not yet been received..
* 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'. 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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