Anyone like to comment on this sleeper? They already have a 1.5m oz inferred resource, based on testing less than 5% of a land package the size of the Carlin trend. They have now reported around half the holes from a 20 000 m 2006 drilling campaign, and the stock price just keeps on getting lower... Are these results sub-economic? Or is this just not a good time to be in China?...
Peter
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inter-citic.com
2006 Drilling Program Results Summary:
On June 21, 2006 Inter-Citic announced in a press release that it had received positive results from its first 7 drill holes of 2006 at Dachang. Results included a shallow drill hole containing 29 Metres of 2.3 grams per tonne gold. Also reported were gold values from trenching and exploration shaft samples. This is part of the first phase of a very large 20,000 metre drill and 50,000 metre trenching program in 2006. In-fill drilling commenced in July using two drills to complete a shallow drill hole program aimed at defining an open-pit resource.
On July 31, 2006, Inter-Citic released the second set of drill holes results from Dachang East. All 8 drill holes reported contained gold mineralization. Results included:
* Drill Hole CJV-50 which showed 31 Meters of 2.69 Grams Per Tonne Gold
* Drill Hole CJV-51 which showed 6 Metres of 6.5 Grams Per Tonne Gold
Additional drill hole assay results in chart form can be seen here.
On September 6, 2006, Inter-Citic released the third set of drill holes results from Dachang East. All 10 drill holes reported contained gold mineralization. Results included:
* Drill Hole CJV-65 shows 23.6 Metres of 7.9 Grams Per Tonne Gold
* Drill Hole CJV-69 shows 22 Meters of 5.71 Grams Per Tonne Gold
Additional drill hole assay results in chart form can be seen here.
On October 23, 2006, Inter-Citic released results from 21 new drill holes at Dachang East Main Zone. Results included:
* Drill Hole CJV-81 shows three near surface mineralized zones, including 9.0m grading 7.86 gpt Au and 10.0m grading 7.08 gpt Au.
* Drill Hole CJV-84 shows multiple near surface mineralized zones totalling 40.0m, including 13.0 m grading 5.87 gpt Au.
* Drill Hole CJV-90 reported an interval of 27.0m grading 5.34 gpt Au.
* Drill Hole CJV-92 reported an interval of 13.0m grading 5.49 gpt Au.
* Drill Hole CJV-96 reported an interval of 11.0m grading 5.95 gpt Au.
* Drill Hole CJV-95 shows multiple mineralized zones 500m to the East of the previously calculated resource area at Dachang East Main Zone.
On November 2, 2006, Inter-Citic released results from 10 new drill holes at Dachang East Main Zone. Results included:
* Drill hole CJV-100 includes a 5 metre near surface interval of 20.4 grams per tonne gold
* Drill hole CJV-98 includes a 17 metre near surface interval of 3.0 grams per tonne gold, plus another 5 metre interval of 5.34 grams per tonne gold;
* Drill hole CJV-106 includes a 7 metre interval of 5.0 grams per tonne gold at a depth of 120-127m, which is below the previously estimated inferred resource at Dachang East Main Zone;.
Additional drill hole assay results in chart form can be seen here.
Inter-Citic is currently averaging more than one drill hole per day on the Dachang East project area. |
