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MMM 2005-02-18 (provided courtesy of CCNMatthews .)
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Minco Mining & Metals Corporation: Two Significant Gold Zones Traced at Guanniuwan Gold Property
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 18, 2005) - Minco
Mining & Metals Corporation ("MINCO") (TSX:MMM) is pleased to report
results from the exploration program conducted in 2004 at its Guanniuwan
Gold project in Gansu Province, China. Guanniuwan property lies 15 km
west of MINCO's 3 million oz gold Anba joint venture and along the same
geological structure. MINCO can earn up to 75% through expenditure of
approx US$1.2 million on the three gold properties on the Yangshan gold
belt.
2004 exploration program on Guanniuwan comprised 1:2,000 scale
geological mapping covering 3 sq. km; re-sampling of old trenches,
artisanal mining pits and adits; and driving of two adits. A total of
415 channel samples was taken. Two gold mineralization zones (North Zone
and West Zone) discovered previously were traced from a surface mapping
and trenching program. One adit (PD2301) was driven to 100m in the North
Zone and a second 100m adit (PD15903) was driven in the West Zone. The
latter adit had not reached the target mineralized zones by season's end.
North Zone
In the North Zone, gold mineralization occurs in bedding plane faults
within Devonian sandstones, limestones and slates, and is concentrated
along a 10-50m fracture zone, traceable for over 1,500 metres at
surface. Four gold zones have been delineated within the North Zone of
more than 800 metres in length and 30 to 50m in width. Gold
mineralization mainly occurs in fractured quartz sandstone. The main
gold zone (No. 2) has been traced by 7 trenches at surface and four
adits (including three adits previously dug by the No.2 Geo-exploration
Institute) at depth. The zone has a strike length of 320m with average
width of 4.55m, ranging 2-7 meters, and average grade of 4.13 g/t gold
(1-11.75g/t gold). The No. 2 zone, still open along strike, occurs as
stratiform, disseminated mineralization and dips North at 51 to 80
degrees.
In adit PD2301, four mineralized zones were intersected including a 7.0
metre intersection at 9.04 grams per tonne cut grade, or 34.19 grams per
tonne uncut.
/T/
------------------------------------------------------------------
Intersection Average Grade
(Metres) (grams/tonne gold) Remarks
------------------------------------------------------------------
From To Length
------------------------------------------------------------------
33 40 7.0 34.19 No.2 zone - Uncut grade
------------------------------------------------------------------
33 40 7.0 9.04 No.2 zone - Cut grade: One
1.0 metre sample of 210.24
grams/tonne was cut to
34.19 grams/tonne, the
average grade of the uncut
intersection
------------------------------------------------------------------
Other intersections
in the adit
------------------------------------------------------------------
42 44 2.0 1.40 No.2-1 zone, a tongue of
No.2 zone
------------------------------------------------------------------
51 52 1.0 2.55 No.3 zone
------------------------------------------------------------------
53 54 1.0 1.03
------------------------------------------------------------------
/T/
Atomic absorption assaying was undertaken by the No.2 Institute
Laboratory in Lanzhou.
West Zone
In the West Zone, gold mineralization occurs in fractured Triassic
silicified quartz sandstone, structural breccia and altered granite
porphyry dykes. By mapping and sampling the old mining tunnels, the
mineralization can be traced for more than 1,200m along the northeast
strike. Mineralization zone is from 0.5 to 5m in width and grade ranges
from 0.5 to 8g/t Au.
Dr. Ken Cai, President and CEO comments: "We are particularly encouraged
by these first results from Guanniuwan, coming on top of our recently
announced exploration successes at the Guojiagou property within the
same joint venture, where soil sampling and trenching results identified
a large gold geochemical anomaly. We will be conducting further aditing
and trenching in the 2005 field season at Guanniuwan to trace the 4 gold
zones preparatory to a drill program. We are confident the 90km Yangshan
Gold Belt, in which our 3 million oz Anba Gold Project and the three
nearby Yangshan Extension properties lie, will emerge as a significant
gold province within the Qinling Gold Triangle, China's second largest
gold mining district."
This news release has been reviewed and approved for release by William
Meyer, P.Eng. Chairman of the Board, and designated Qualified Person.
Certain terms or statements made that are not historical facts, such as
anticipated advancement of mineral properties or programs, productions,
sales of assets, exploration plans or results, costs, prices,
performance are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, and involve a number
of risks and uncertainties that could cause actual results to differ
materially from those projected, anticipated, expected or implied. These
risks and uncertainties include, but are not limited to; metals price
volatility, volatility of metals production, project development risks
and ability to raise financing. Refer to the Company's Form 20-F and
Form 6-K reports for a more detailed discussion of factors that may
impact future results. The Company undertakes no obligation and has no
intention of updating forward-looking statements.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Minco Mining and Metals Corporation
William Meyer, P.Eng.
Chairman of the Board
1-888-288-8288 or (604) 688-8002
info@mincomining.ca
www.mincomining.ca
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