Here is today's News Release,looks pretty good,don't you think?
Promising Drill Results From Central Asia Goldfields
CENTRAL ASIA GOLDFIELDS CORP ("CGZ-M")
- Promising Drill Results From Central Asia Goldfields
The latest drill results from Central Asia Goldfield's Raigorodok North gold prospect run about ten
percent higher than previous Soviet results which estimated at least a two million ounce resource.
This development has prompted the Company to extend its drill program throughout the winter. The
Raigorodok prospect is located in North-Central Kazakstan.
Hole five, cuts under the previous four holes and confirms the continuation of the mineralized
intersections.
Hole 5 From To Length Au g/t
40.6 52.9 12.3 1.59
138.88 193.00 54.12 2.08
including 138.88 157.20 18.32 2.62
Central Asia's exploration strategy called for five drill holes along a single line to test the
gold-bearing potential of a skarn contact zone developed between a grandiortic intrusive and
surrounding sediments. Each hole was drilled deeper to test the depth extension of the mineralized
zone. Results to date seem to confirm the property's potential as a large tonnage, open-pit prospect.
Central Asia is currently drilling two additional fences of step-out holes situated 100 metres on
either side of the initial test zone. Once this part of the program is complete, the Company will
calculate updated reserves using both past Soviet and recent CAGC drill results.
Other properties are also showing comparable promise. Two rigs are currently drilling the
Company's South Ashiktas property in Central Kazakstan to confirm previous Soviet data. Earlier
announcements from Central Asia reported a mineralized zone on the property extending 1.2
kilometers with gold values ranging from 1.4 to 17 grams per tonne. The company expects to
receive Canadian assay results from this property shortly.
Finally, the Company expects to begin drilling within the next few weeks on the Novodneprovskoe
prospect located immediately north of the Raigorodok prospect. There are five known gold-bearing
zones on the property to a depth of 140 metres containing an estimated resource of 400,000
ounces at an average grade of 11.8 grams of gold per tonne. Central Asia views this prospect as
exhibiting excellent potential for tonnage enhancement, both along strike and at depth.
Central Asia Goldfields has three licenses in Kazakstan covering 11 million acres. In 1996, the
Company completed over 16,000 meters of drilling in 74 holes on 14 targets. Currently there are
over 3,000 core samples being assayed at Canadian laboratories.
Kazakstan is the tenth largest country in the world, has a population of 17 million and is an
independent republic with widespread natural resources including gold, oil and gas, diamonds and
uranium. The country has an effective and improving infrastructure and is rebounding strongly after
its break with the former Soviet Union in 1991. More than 40 North American resource companies,
including Santa Fe, Teck, and Cameco, are among those actively exploring and developing
Kazakstan's natural resources.
A map is available from Central Asia Goldfields Corporation.
TEL: (416) 867-2936 Mike Campbell, Director, Public Relations |
