47.3m Grading 4.34 g/t Gold and 1.75 g/t Silver Including 9.4m Grading 17.75 g/t
Vancouver, British Columbia -- (
Marketwire - Nov. 4, 2010) -
China Gold International Resources Corp. Ltd. (the "Company") is pleased to announce intercepts of high grade gold mineralization at the Jiama copper poly metals project in the Gandise Metallogeny Belt in Tibet, China. Results of the drill program include 47.3m grading 4.34 g/t gold and 1.75 g/t silver including 9.4m grading 17.75 g/t gold and 5.33 g/t silver at Jiama drill hole ZK4504 in the northwest corner of the Jiama Property (see Figure 1: location of ZK4504 and Jiama 2010 drilling plan map: http://media3.marketwire.com/docs/cgg-map1.pdf). The gold mineralization is hosted in a quartz-diorite porphyry dike.
In addition, oxidized gold mineralization of 14.57m grading 6.5g/t gold and 8.4g/t silver was intercepted at the Elephant Back MT exploration property some five kilometers south east of the Jiama project.
Table 1: Significant gold mineralization intercepts at Jiama and Elephant Back MT Properties
Property Drill Hole From
(m) To
(m) Interval
(m) Gold
(g/t) Silver
(g/t) Hosting
Rocks
Jiama ZK4504 133.2 180.5 47.3 4.34 1.75 Quartz-diorite porphyrite
including 145.8 155.2 9.4 17.75 5.33 Quartz-diorite porphyrite
Elephant Back MT ZK003 179.5 194.07 14.57 6.5 8.4 Limonitized hornfels
Note: Cut off grade is 0.5 g/t gold. The interval is a drill intercept width; while the true thicknesses of the intervals are unknown
These high grade gold intercepts represent new target areas. Further exploration may allow the company to define a large, stand alone ore body with high gold values. This would increase the gold production potential at the Jiama Project.
Dr. Song Xin, CEO of the Company commented: "The greater than half ounce per tonne, 9.4m high grade gold mineralization interval in the quartz-diorite porphyry dike suggest the potential for us to identify a high grade, standalone, bulk tonnage gold deposit at Jiama in addition to the existing large copper poly-metallic deposit. We will prioritize this zone for additional drilling targets next year."
Up to date, 89 holes amounting to 49,491 drilling meters of the proposed 50,000 meter drilling program have been completed at the Jiama Project. 5 other holes are still on-going. The assay results for a total of 9 holes (including ZK4504 and Elephant back MT ZK003) have been received (Table 2) since the news release on Sept. 28th of 2010.
Table 2: The assay results Summary for the 9 drilling holes at Jiama Project
Drill Hole Intervals (m) Au (g/t) Ag (g/t) Cu (%) Mo (%) CuEQ
ZK019 29 0 1.17 0.15 0.221 1.71
15.91 0.26 16.21 0.7 0.028 1.82
ZK813 23.74 0.01 2.12 0.31 0.004 0.46
4 0.01 0.63 0.15 0.073 0.68
22.94 0.02 2.33 0.43 0.049 0.9
76.64 0.6 14.13 0.61 0.02 1.61
5 0 0.85 0.08 0.11 0.87
9 0.12 11.4 0.51 0.02 1.27
22 0 0.56 0.02 0.163 1.16
ZK819 4 0 1 0.16 0.057 0.6
10 0 0.71 0.1 0.034 0.38
14 0 0.92 0.16 0.039 0.48
4 0 0.86 0.16 0.039 0.47
6 0 0.76 0.07 0.033 0.34
12 0 0.78 0.12 0.034 0.4
52 0 1.2 0.16 0.028 0.42
4 0 0.77 0.09 0.041 0.41
126.9 0.08 6.76 0.42 0.07 1.3
11 0.08 4.1 0.23 0.022 0.62
ZK3116 14 0.35 16.54 0.85 0.002 1.81
ZK4010 6 0 1.64 0.34 0.009 0.49
10 0 1.83 0.4 0.015 0.6
4 0 2.42 0.37 0.017 0.62
10 0 1.84 0.2 0.03 0.5
4 0 1.54 0.21 0.12 1.11
8 0 1.23 0.12 0.051 0.53
8 0 1.63 0.27 0.017 0.48
41.23 0.01 2.78 0.25 0.167 1.54
6 0.16 10.27 0.42 0.025 1.18
14 0.68 32.6 1.45 0.007 3.36
13.12 0.19 13.1 0.54 0.006 1.32
ZK4306 5.75 0.63 31.16 1.6 0.035 3.61
ZK4504 47.3 4.34 1.75 0 0 0.87
Elephant Back MT ZK003 14.57 6.5 8.41 0.12 0.048 2.07
Elephant Back MT ZK006 5 0.05 9.7 0.36 0.121 1.78
4 0 0.51 0 0.051 0.39
19.47 0 2.55 0.07 0.053 0.58
Note: Cutoff grades are 0.3% for copper, or 0.03% for molybdenum, or 0.5 g/t for gold. The interval is a drill intercept width; the true thicknesses of the intervals are unknown yet although the mineralized body is in the tabular shape and its true width is probably close to the drill intercept width. CuEq is calculated based on the following formula: CuEq=Au(g/t)*0.18+Ag(g/t)*0.053+Cu(%)*1+Mo(%)*6.87+Pd(%)*0.32+Zn(%)*0.34
SAMPLING, ASSAYING, QUALITY CONTROL AND QUALIFIED PERSON
Sample preparation and analysis for the Jiama drill core samples were undertaken by China Southwestern Metallurgic Geology Analytical Center ("Southwest Center") in Pengzhou, Sichuan Province, which is an accredited laboratory by the Chinese National Accreditation Board for Laboratories ("CNAL"), and Ministry of Land and Mineral Resources of China ("MOLR"). The Southwest Center set up a sample preparation facility in the Jiama core storage warehouse. Sample preparation was undertaken by the Southwest Center personnel. Drill core samples were cut in halves using a diamond saw first. One-half of the drill core was sampled and assayed using the standard analytic methods specified in "The Quality Administration Standards for Analysis in Geological and Mineral Resource Laboratories" (DZ0130-94) promulgated by the former Ministry of Geology and Mineral Resources of China. Gold grades were determined by an aqua regia + fluoride digestion, reactivated carbon concentration, and atomic absorption spectroscopy ("AAS") procedure. Copper, lead, zinc, molybdenum, and silver grades were determined using an aqua regia + hydrofluoric acid + perchloric acid digestion and Inductively Coupled Plasma Atomic Emission Spectrometry ("ICP-AES") or AAS procedure. All samples were analyzed for the above six metals. All the assays were completed at the Southwest Center. To maintain independent quality control on the laboratory, 2% of duplicate, blank and standard samples respectively are included in the all assay samples. The Southwest Center also uses an extensive range of internal standards. External check assays are routinely performed on check samples submitted independently by the Company to National Geological Sample Test Center in Beijing. Further information on the Jiama project and technical information surrounding the Jiama project can be found in a technical report on the Jiama Project dated September 9th 2010 entitled "Independent Technical Report on the Jiama Copper Polymetallic Project" and located on the Company's profile on Sedar at www.sedar.com. Quality control and assurance programs are implemented in line with the standards of National Instrument 43-101. The exploration program on the Jiama project is managed by Dr. Tang Juxin, a senior researcher from Geology Academy of China. It is supervised by Dr. Yingting (Tony) Guo, P.Geo., an exploration Manager of the Company and a Qualified Person as defined under National Instrument 43-101. Dr. Guo has visited the Jiama Project during Oct. 22nd -23rd, 2010, and supervised the scientific and technical information contained in this news release.
About China Gold International Resources Corp. Ltd.:
China Gold International Resources Corp. Ltd. is a mining company whose principal property is the CSH Gold Mine. The Company began producing gold at the CSH Gold Mine in July 2007. The Company's shares are listed on the TSX under the symbol "CGG". China National Gold Group Corporation, a Chinese state-owned enterprise owns approximately 39% of China Gold International Resources Corp. Ltd. shares.
The Company has filed a Web Proof Information Pack ("WPIP") disclosure document on the Stock Exchange of Hong Kong ("HKSE") website in respect of a proposed dual-listing of its common shares on the HKSE. Listing on the HKSE is a condition to completion of the Skyland Acquisition. A copy of the WPIP has been filed on and is available for review on the Company's profile on SEDAR at
www.sedar.com.
Forward-looking statements
Certain statements made herein, including the proposed future drilling programs at the Jiama Project and other statements relating to matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information and statements are typically identified by words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "plan", "estimate", "will", "believe" and similar expressions suggesting future outcomes or statements regarding an outlook. All such forward-looking information and statements are based on certain assumptions and analysis made by China Gold International Resources Corp Ltd management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks and Uncertainties" elsewhere in the Company's MD&A filed at www.sedar.com. The reader is cautioned not to place undue reliance on forward-looking information or statements. Except as required by law the Company does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future, unanticipated events.
For more information, please contact
China Gold International Resources Corp Ltd
Frank Lagiglia
Investor Relations Manager
+1.778.668.9883
info@chinagoldintl.com
www.chinagoldintl.com
