Vancouver, British Columbia -- (
Marketwire - Dec. 29, 2010) -
China Gold International Resources Corp. Ltd. (TSX: CGG) (SEHK: 2099) (the “Company“) is pleased to announce an update on its exploration progress for 2010 at its CSH 217 gold mine in Inner Mongolia, China. A total of 8 holes, (4187.57 meters) of diamond drilling were completed in 2010 including 6 holes (3428.29 meters) drilled to test for higher grade mineralization at depth, and 2 holes (759.28 meters) drilled to test the surface trenching intercepts of a new NW zone of gold mineralization discovered on the Company's contiguous exploration permit.
Highlights of the 2010 exploration program include intercepts of 144.50 meters grading 0.92 grams per tonne (g/t) gold in hole DDH101-1,134.30 meters grading 0.68 grams per tonne (g/t) gold in hole DDH9950-00, 14 meters grading 4.26 grams per tonne (g/t) gold in trench TC4 and 28 meters grading 0.34 grams per tonne (g/t) in trench TC2. Although the two holes drilled below the above two trenches failed to intercept significant gold mineralization, anomalous gold values were discovered and further drilling is planned for next field season to fully evaluate the potential for the NW zone.
“With the exploration achievement of the current stage, we are full of confidence in expanding the resources both down depth and in a new zone. The significant potential for resources growth on the CSH project is obvious and an aggressive 3 year exploration program is already in the planning stage to further increase our success at the CSH mine“ said the Company CEO, Dr. Xin Song.
The following is a briefly summary of the 2010 drilling and trenching results:
Table 1: Gold intercepts from 6 diamond drill holes in the permitted mining area:
Location Drill Hole From (m) To (m) Interval (m) Gold (g/t)
SW Pit DDH77-1 243.2 258 14.8 0.59
(including) 251.25 256 4.75 1.13
268.4 332 63.6 0.49
DDH79-1 278 297.8 19.8 0.42
303 368 65 0.52
(including) 314.4 325.3 10.9 1.07
374.5 390.1 15.6 0.67
NE Pit DDH9950-1 515.8 537.9 22.1 0.42
544.7 603.5 58.8 0.59
609.1 613 3.9 1.03
620 754.3 134.3 0.68
(including) 620 641.5 21.5 1.09
DDH101-1 195.5 232 36.5 0.54
243.8 253.7 9.9 0.64
268.6 413.1 144.5 0.92
(including) 309 378 69 1.43
DDH103-1 229 264.12 17.12 0.36
409 441.6 32.6 0.85
447.64 547 99.36 0.69
553.5 566 12.5 0.35
DDH105-1 366.4 470.6 104.2 0.35
No
tes:
1. All grades reported are “length weighted averages“ (LWA) of individual samples.
2. The intervals are a drill intercept widths, while the true widths of the intervals are unknown.
Table 2: Gold intercepts from 2 trenches in permitted exploration area:
Trench From (m) To (m) Interval (m) Gold (g/t)
TC2 67.00 95.00 28.00 0.34
(including) 75.00 90.00 15.00 0.50
TC4 57.00 71.00 14.00 4.26
258.00 268.00 10.00 0.29
Notes:
All grades reported are “length weighted averages“ (LWA) of individual samples.
Qualified Persons
Mario Rossi, M.Sc., Min. Eng., of Geosystems International Inc., an Independent Qualified Person as defined by National Instrument 43-101 has reviewed the drill program, supervised the preparation of the scientific and technical information and verified the data supporting such 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. In addition the Company now owns the Jiama Copper Poly-metallic Project which is one of the largest copper poly-metallic mines in China. It is a large scale poly-metallic deposit consisting of copper, molybdenum, gold, silver, lead and zinc and is currently in the production stage. The Company's shares are listed on the TSX under the symbol “CGG“ and on the HKSE under stock code “2099“. China National Gold Group Corporation, a Chinese state-owned enterprise owns approximately 39% of China Gold International Resources Corp. Ltd. shares.
Forward-looking statements
Certain statements made herein, 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 securities legislation . 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@chinagoldintl.com
www.chinagoldintl.com
