China Gold International announces 2011 exploration plan in Tibet


ON THE WEB, 6 April 2011

China Gold International Resources Corp Ltd (“China Gold International” or the “Company”), (TSX: CGG, HKEX: 2099), is pleased to announce the 2011 exploration plan for its Jiama Copper-Gold poly-metallic project in Tibet, China. The plan has been approved by the Board and Management of China Gold International. Due to the encouraging results from the 2010 exploration program (refer to news release dated 5 January 2011), the Company has adopted an aggressive program that expands on results achieved to date (estimation of the mineral resource to 43-101 standards based on 2010 drilling results has commenced and estimation to Chinese standards has been completed).

The new exploration program consists of 31,200 metres of drilling with a total of 56 diamond drilling holes conducted in three phases and with a budget of USD $5.6 million (37.35 million RMB Yuan). It will focus on four targets in the 3km long three-in-one stacked system comprising Hornfels (top), Skarn, and Porphyry (base) mineralised bodies.

The first target is in-fill drilling to complete 100x100m and 200x100m spacing in the central part of the Skarn mineralised body. The aim of this drilling is to upgrade the current inferred and indicated resources to the indicated and measured category.

The second target is further drilling work surrounding the existing stand-alone quartz-diorite porphyry gold mineralised body and gold-rich Skarn type mineralised body which was discovered during the 2010 drilling program (refer to news release dated 5 January 2011). The aim of this drilling is to define a reasonable size gold or gold rich deposit.

The third target is to define the NE Boundary of the Skarn mineralised body. The fourth target is to explore the porphyry mineralised body in the center of the mineralised zone by drilling to 2000m depth. A magneto-telluric geophysical survey may be conducted to define the extent of the deep porphyry system and guide selection of the deep drill holes.

“The key objectives of this aggressive drilling plan are to further define the mineralised zone on the property that we believe may host a meaningful gold deposit, further expand and upgrade the existing resource base and investigate the deep porphyry copper-molybdenum mineralised body at the Jiama Project both down depth and along strike. We believe there is significant potential for substantial growth of the Jiama project resource base,” said China Gold’s International’s CEO, Dr Xin Song.

This drill programme will start in April and is scheduled for completion by November, 2011. Initial results from the drilling programme are expected by the end of year 2011.

Qualified Person

Ying Ting (Tony) Guo, PhD, PGeo, a consulting geologist from Behre Dolbear Asia, and Qualified Person as defined by National Instrument 43-101 has 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 properties are the CSH gold mine and the Jiama copper poly-metallic Mine in China. 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's shares.
Copyright © 2011 Moneyweb Holdings Limited Published in Mineweb Posted in News » Tags: , , , ,