Cigma Metals Corporation Announces the Results of the 2008 Drilling Program on the Beskauga Deposit, Dostyk Gold-Copper Project in Kazakhstan
Monday January 19, 2:35 pm ET
ca.us.biz.yahoo.com
ALMATY, KAZAKHSTAN--(MARKET WIRE)--Jan 19, 2009 -- Cigma Metals Corporation (the "Company," "Cigma") (Other OTC:CGMX.PK - News) (Frankfurt:C9KA.F - News) is pleased to announce the results of the 2008 drilling program at the Beskauga prospect in Kazakhstan.
HIGHLIGHTS
-- Dostyk Project - close resemblance to world-class gold-copper deposits
-- Beskauga Deposit is a large-scale gold-copper-porphyry mineralization
system
-- Deposit remains open along strike and at depth
-- Best results
- 193.4m at 1.6g/t gold equivalent from in-drill hole Bg3,
including 66.7m at 2.52g/t gold equiv
- 263.9m at 0.9g/t gold equiv from in-drill hole Bg1, including
71.9m at 1.08g/t gold equiv
- 282m at 0.9g/t gold equiv from 37.1m in-drill hole Bg16,
including 52.8m at 1.08g/t gold equiv
Dostyk Licence Area With Major Gold-Copper Prospects (2008-09)
During 2008 the Company completed 16 diamond drill holes (DDH) for a total of 4,715 meters of drilling with an average drill hole depth of 295 meters. The drilling program was targeting large geochemical anomalies of gold, copper and molybdenum obtained by previous exploration. The drilling led to the discovery of two large mineralization zones within aureole of hydrothermal alteration on area over 7 km2. The drilling confirmed over 2,000 meters of interrupted continuity for each mineralization zone along strike with an average width of approximately 200 meters for the eastern zone and 60 meters for the western zone. The gold-copper mineralization remains open on both ends of the zones. The mineralization is characterized by the steep dipping. It has been traced down to a depth of 400 meters and remains open. Both zones maintain a consistent width from the top to the bottom and vary from 70 to 440 meters in the eastern zone and 25m to 100m in the western zone. The most representative interceptions were obtained along drilling fences F11 and F12.
-- Drilling Fence F11 (Figure 3)
The drill holes of drilling fence F11 extended the results of the
historical drilling by intercepting a bulk mineralization zone that is
characterized by impressive dimensions (Figure 3):
- Length over 2,000m
- Width over 440m
- Length in dip direction over 350m
-- DH Bg16
- 282m grading 0.32g/t gold and 0.25% copper (0.9g/t gold equiv)
from 37.1m, including
-- 52.8m at 0.35g/t gold and 0.29% copper (1.08g/t gold equiv)
-- DDH Bg1
- 263.9m grading 0.40g/t gold and 0.20% copper (0.9g/t gold equiv)
from 42.4m, including
-- 71.9m at 0.50g/t gold and 0.23% copper (1.08g/t gold equiv)
-- DDH Bg2
- 286.8m grading 0.39g/t gold and 0.17% copper (0.82g/t gold equiv)
from 44.2m, including
-- 64m at 0.61g/t gold and 0.22% copper (1.05g/t gold equiv)
-- Drilling Fence F12 (Figure 4)
On fence F12 the drill holes have intersected down to a depth of 400 meters
an extensive mineralization zone consisting from three ore bodies. The
total width of mineralization zone is 280 meters.
-- DDH Bg15
- 160m grading 0.21g/t gold and 0.24% copper (0.8g/t gold equiv)
from 59.2m
-- DDH Bg12
- 102m grading 0.16g/t gold and 0.20% copper (0.66g/t gold equiv)
from 49.2m
-- DDH Bg3
- 193.4m grading (1.6g/t gold equiv) from 45.1m, including
-- 66.7m at 0.77g/t gold and 0.70% copper (2.52 g/t gold equiv)
from 45.0m
-- DDH Bg6
- 61.7m grading 0.19g/t gold and 0.12% copper (0.50g/t gold equiv)
from 47.1m
- 98.6m grading 0.13g/t gold and 0.11% copper (0.44g/t gold equiv)
from 123.9m
Beskauga Deposit - Primary Geology and Infrastructure
Beskauga is a large gold-copper-porphyry system with an area of over 7km2. The deposit area is composed by strongly hydrothermaly altered volcanic and intrusive rocks with numerous geochemical gold-copper anomalies. The gold-copper mineralization is associated with pyrite and chalcopyrite within wide-spread zones of chlorite-epidotic alteration. With gold and copper quite frequently is associated molybdenum in average grade of 0.016%. That is a common by-product of world copper-porphyry deposits, which seriously enhances the value of the ores. The Beskauga deposit belongs to gold-copper-porphyry type of mineralization, which controls over 70% of world copper resources.
This type of mineralization is characterized by large dimensions and relatively low grades. Since 1980, several gold-copper mines world-wide have been producing copper-gold concentrates from ores grading 0.3g/t to 1.0g/t of gold equivalent. The ore resources of such deposits usually extend hundred of million tones.
Dostyk project of 14,000 km2 (Figure 1) is located in the North Eastern region of Kazakhstan near to the Russian and Chinese border. Infrastructure is just perfect with roads and railways crossing the license area. The region has been mined for gold, base metals, nickel, coal and others. Power lines with voltage up to 1,150 kW cross the project area.
Cigma Metals Corporation is a mineral exploration company focusing on the exploration and development of its mineral exploration property located in the Pavlodar province of Kazakhstan and its two exploration properties in the Tomsk province of Russia. All the project areas were selected due to their proximity to a well-developed infrastructure, known mineral occurrences and from historical records of gold and base metals production. The Company's stock is quoted for trading in the United States of America on the OTC Pink Sheets under the symbol "CGMX.PK," and under the symbol "C9KA.F" on the Frankfurt Exchange, in Germany.
ON BEHALF OF THE BOARD
"Agustin Gomez de Segura"
Agustin Gomez de Segura
President, CEO and Director
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.
These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.
Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. These cautionary statements qualify all of the forward-looking statements made in this press release. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at sec.gov.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.
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Contact:
For further information please contact:
Agustin Gomez de Segura
Address: 18, 80 Furmanova Str
Almaty, Republic of Kazakhstan
Telephone: Almaty Office +7 327 2611 026
Website: cigmametals.com
Source: Cigma Metals Corporation |
