SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (32217)2/4/2009 8:13:29 PM
From: LoneClone  Read Replies (1) | Respond to of 195792
 
Inter-Citic Releases New Drill Hole Results From Dachang Gold Project
Wed Feb 4, 9:00 AM

ca.news.finance.yahoo.com

TORONTO, ONTARIO--(Marketwire - Feb. 4, 2009) - Inter-Citic Minerals Inc. (TSX: ICI.TO) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report results received from the ninth set of drill holes from the Company's 2008 diamond drill program at its Dachang Gold Project in China. The drill holes reported in this release include both step-out holes in new parts of the property outside of the previously reported NI 43-101 compliant inferred resource area, as well as infill holes on the Dachang Main Zone (DMZ).

Drill Highlights:

- 41 of 47 drill holes report gold mineralization.

- Drill hole CJV-584 is a step-out hole on the Placer Valley Zone (PVZ), and intersected multiple mineralized zones, including 12.2 metres of mineralization averaging 3.15 GPT contained gold.

Other holes include:

- Drill hole CJV-579 is an infill hole on the Dachang Main Zone (DMZ), and intersected multiple mineralized zones, including 12.0 metres of mineralization averaging 1.21 GPT contained gold.

- Drill hole CJV-582 is a step-out hole on the PVZ, and intersected multiple mineralized zones, including 1.2 metres of mineralization averaging 15.8 GPT contained gold.

- Drill hole CJV-600 is an infill hole on the DMZ, and intersected multiple mineralized zones, including 9.5 metres of mineralization averaging 1.15 GPT contained gold, 3.7 metres of mineralization averaging 2.72 GPT contained gold, and 3.2 metres of mineralization averaging 2.14 GPT contained gold.

- Drill hole CJV-612 is an infill hole on the DMZ, and intersected multiple mineralized zones, including 2.2 metres of mineralization averaging 7.50 GPT contained gold.

- Drill hole CJV-613A is an infill hole on the DMZ, and intersected multiple mineralized zones, including 7.5 metres of mineralization averaging 2.84 GPT contained gold.

- Drill hole CJV-614 is an infill hole on the DMZ, and intersected multiple mineralized zones, including 10.1 metres of mineralization averaging 1.96 GPT contained gold.

- Drill hole CJV-623 is an infill hole on the DMZ, and intersected multiple mineralized zones, including 18.0 metres of mineralization averaging 1.72 GPT contained gold, and 4.25 metres of mineralization averaging 4.00 GPT contained gold.

- Drill hole CJV-624 is an infill hole on the DMZ, and intersected multiple mineralized zones, including 4.2 metres of mineralization averaging 2.43 GPT contained gold.

Detailed drilling results are set out in the chart below:

----------------------------------------------------------------------------
Diamond                                                                Gold
Drill Hole                                    From       To  Drill    Assay
Number     Zone  Section   Dip  Azimuth    (metres) (metres) Width  (g/t Au)
----------------------------------------------------------------------------

CJV-577     PVZ      500   -90        0      26.70    27.70   1.00     1.93
                                             64.70    66.70   2.00     0.89

CJV-578     PVZ     2100   -71       20      44.70    45.70   1.00     0.62
                                             50.70    51.90   1.20     0.89
                                             89.50    91.50   2.00     0.60

CJV-579     DMZ     8100   -45       20      28.30    40.30  12.00     1.21
                                             70.20    71.20   1.00     0.85

CJV-580     DMZ     5550   -82      200      19.00    20.00   1.00     1.12
                                             94.00    95.00   1.00     1.31
                                            151.90   154.30   2.40     2.85

CJV-581     DMZ     8500   -89       20     117.00   118.00   1.00     0.77

CJV-582     DMZ     4350   -60       20      40.30    41.70   1.40     1.22
                                             53.20    54.20   1.00     1.72
                                            115.60   116.80   1.20    15.80
                                            134.20   136.20   2.00     1.21

CJV-583     PVZ     2925   -45       20      65.60    71.00   5.40     0.69

CJV-584     PVZ     4150   -45       20      20.30    21.50   1.20     1.16
                                             42.50    54.70  12.20     3.15
                                             56.80    61.80   5.00     0.64
                                             73.00    74.10   1.10     0.97
                                             77.40    78.50   1.10     0.63

CJV-585     DMZ     4125   -86       20       0.00     2.65   2.65     0.82
                                             88.80    90.20   1.40     1.28
                                             92.70    93.70   1.00     1.23
                                             99.90   100.90   1.00     0.66
                                            107.30   108.70   1.40     2.41
                                            119.90   122.90   3.00     1.58
                                            125.90   127.30   1.40     0.95
                                            136.10   137.10   1.00     0.88
                                            141.10   142.10   1.00     0.85

CJV-586     DMZ     5550   -61       20      87.20    88.00   0.80     0.64

CJV-587     PVZ    1400E   -61       20      45.00    46.00   1.00     2.12
                                             96.50    98.00   1.50     0.82
                                            106.00   108.00   2.00     0.69

CJV-588     PVZ     4150   -55       20      18.50    19.50   1.00     1.89
                                             26.50    30.50   4.00     0.98
                                             33.50    34.70   1.20     2.70
                                             72.40    73.90   1.50     0.66
                                             75.30    76.40   1.10     0.64

CJV-589     DMZ     5550   -88      20       50.70    54.20   3.50     0.64
                                            104.00   105.00   1.00     0.91

CJV-590     DMZ     4525   -45      20         No significant assay results

CJV-591     PVZ     2925   -65      20       70.40    72.40   2.00     2.01
                                            132.50   133.80   1.30     1.03
                                            140.50   141.50   1.00     0.60

CJV-592     DMZ     5100   -64      20      143.40   144.40   1.00     0.66
                                            171.60   172.60   1.00     2.34

CJV-593     DMZ     8100   -65      20       59.00    64.50   5.50     1.53
                                             82.00    84.00   2.00     1.31

CJV-594     DMZ     4525   -75      20         No significant assay results

CJV-595     PVZ    1400E   -88      20       16.00    17.50   1.50     0.50

CJV-596     PVZ     900E   -45      20       10.50    11.50   1.00     0.57
                                             40.10    41.00   0.90     0.51
                                             54.50    55.50   1.00     0.56

CJV-597     PVZ     2900   -55      20         No significant assay results

CJV-598     PVZ     4900   -60      20         No significant assay results

CJV-599     DMZ     4525   -53      20       83.90    87.90   4.00     0.67
                                             90.90    91.90   1.00     1.93
                                            114.50   115.50   1.00     0.86

CJV-600     DMZ    13200   -73      20       75.00    76.00   1.00     1.34
                                             95.00    96.00   1.00     0.52
                                            112.50   113.50   1.00     2.09
                                            127.30   136.80   9.50     1.15
                                            140.50   144.20   3.70     2.72
                                            146.70   149.90   3.20     2.14
                                            152.90   153.90   1.00     0.77
                                            155.90   156.90   1.00     0.60

CJV-601     DMZ     8100   -88      20         No significant assay results

CJV-602     DMZ     2900   -88      20       26.70    28.80   2.10     1.29
                                             54.20    55.20   1.00     0.80

CJV-603     DMZ     4150   -88      20       24.90    25.90   1.00     2.80
                                             31.00    32.00   1.00     0.96
                                             37.60    39.60   2.00     3.03
                                             73.70    74.70   1.00     0.61
                                            107.20   110.50   3.30     3.12
                                            137.40   138.50   1.10     0.55
                                            148.00   149.00   1.00     0.53

CJV-604     DMZ     4525   -82      20       87.50    90.50   3.00     1.57

CJV-605     DMZ     4900   -90      20       49.80    51.80   2.00     1.71

CJV-606     DMZ     3500   -55      20       15.20    18.00   2.80     8.19
                                             39.80    40.80   1.00     0.57

CJV-607     DMZ    13900   -66      20       14.10    16.10   2.00     2.27
                                             53.00    54.70   1.70     1.61
                                            140.00   143.00   3.00     1.04

CJV-608     DMZ     2900   -50      20       72.70    74.10   1.40     2.58

CJV-609     DMZ     3250   -45      20       15.30    16.80   1.50     0.86
                                             28.80    29.80   1.00     1.15

CJV-610     DMZ     4525   -53      20       16.20    17.20   1.00     1.12
                                             63.00    64.00   1.00     1.24
                                             68.00    69.00   1.00     2.67

CJV-611     DMZ     4900   -57      20         No significant assay results

CJV-612     DMZ     3250   -85      20        6.00    11.30   5.30     1.29
                                             13.90    15.10   1.20     1.92
                                             29.80    32.00   2.20     7.50
                                             46.40    47.40   1.00     0.56

CJV-613A    DMZ    14300   -55      20       79.00    80.00   1.00     5.48
                                             96.00    97.00   1.00     1.23
                                            113.70   121.20   7.50     2.84

CJV-614     DMZ    13900   -45      20       72.00    73.00   1.00     2.44
                                             79.40    82.10   2.70     2.14
                                             84.30    85.30   1.00     0.59
                                            109.00   110.00   1.00     0.74
                                            118.50   128.60  10.10     1.96

CJV-615     DMZ     3500   -85      20       18.50    24.60   6.10     1.31
                                             49.30    50.30   1.00     0.95

CJV-616     DMZ     4900   -82      20       94.50   100.50   6.00     1.04

CJV-617     DMZ     4525   -80      20       66.70    68.70   2.00     1.06
                                             78.70    82.70   4.00     1.79
                                            116.20   118.20   2.00     1.66

CJV-618     DMZ     2900   -88      20       39.00    40.00   1.00     5.45
                                             87.50    89.20   1.70     1.28

CJV-619     DMZ     3250   -50      20        1.50     5.00   3.50     0.97
                                             11.30    12.50   1.20     0.74
                                             34.00    40.50   6.50     1.74
                                             52.40    53.40   1.00     0.54

CJV-620     DMZ     4700   -48     200        8.70    12.70   4.00     0.94
                                             50.70    51.70   1.00     0.95
                                             54.70    55.70   1.00     0.82

CJV-621     DMZ     3250   -85      20       23.70    25.20   1.50     0.86
                                             48.20    49.20   1.00     2.08
                                             72.30    73.40   1.10     0.69

CJV-622     DMZ     4700   -88     200       22.70    29.70   7.00     1.97
                                             33.70    38.70   5.00     3.08

CJV-623     DMZ     4900   -63     200       91.40   109.40  18.00     1.72
                                            133.40   139.40   6.00     1.61
                                            148.40   152.65   4.25     4.00

CJV-624     DMZ     3500   -50      20        1.50     3.00   1.50     0.58
                                             42.80    44.20   1.40     1.33
                                             48.00    49.00   1.00     0.81
                                             57.00    58.00   1.00     0.81
                                             69.80    74.00   4.20     2.43

DMZ:   Dachang Main Zone - The original 2km long zone of mineralization 
       defined by the 2006 DDH program
DMZ-X: Dachang Main Zone Extension - A 1.5 km long zone of mineralization
       extending off the eastern end of the DMZ as defined by the 2007 DDH
       program 
PVZ:   Placer Valley Zone - A south dipping mineralized fault 1 km south of
       the DMZ

Assay cut-off for the above table was at 0.5 gpt Au, however, intervals were
determined by geological interpretation of consistent mineralized zones. 
Broader intervals may include waste intervals of up to 2m. There was no 
evidence of nugget effect and none were topcut. True widths for the 
intervals above have yet to be determined.


Step-out drill holes are in new areas of the Dachang Gold Property adjacent to the Company's existing NI 43-101-compliant inferred resource area on the DMZ, or on the Company's Placer Valley anomaly (PVZ), a mineralized fault zone approximately 1 km to the south of the DMZ.

Infill holes are testing continuity of the Company's existing NI 43-101-compliant inferred resource area on the total 3+ km extent of the Dachang Main Zone as described in the Company's press release of April 10, 2008. The sulphide mineralization of the DMZ is open to depth along most of this defined fault structure and is still open to the east and west. A visual representation of the location of the drill holes in this release can be seen at: corebox.net or as a map on the Company's website. A location map showing all drill hole locations from 2008 is available on the Company's website at: inter-citic.com.

The Company still has more than 30 additional completed drill holes from the 2008 exploration program at Dachang to be reported. Assay results will be reported as they become available.

Sample Methodology:

Drill core samples were taken at geologically significant intervals, typically over one metre. Core recovery was in excess of 90%. The designated sample intervals were cut with a diamond saw by qualified technicians. One half of the cut core was selected for assay with the remaining half being placed back into the core box. Care was taken to ensure that neither half of the core represents a bias with respect to the nature and mineral content of the sample. The sample interval and methodology are consistent with industry standards. Drill core samples were shipped to SGS Geochemical Laboratories ("SGS") located in Kunming and Tianjin, China for sample preparation and 50g fire assay with AA finish. SGS is the world's leading inspection, verification, testing and certification company. Analytical work is performed in accordance with recognized standards such as ASTM, ISO, JIS, and other accepted industry standards. Accuracy of the results is tested through the systematic inclusion of reference samples and duplicate samples.

Security of Samples: All of the samples collected at Dachang are stored in a restricted secure storage area. Samples are shipped by truck to Golmud and delivered to Inter-Citic's courier agent in Golmud for shipment to the various laboratories for analysis. Inter-Citic's courier agents are present at all transshipment points between Golmud and the laboratories. Exploration at Dachang was conducted with the assistance of the numerous professionals from the Qinghai Geological Survey Institute, working in co-operation with Inter-Citic's technical team on site and supervised by Mr. Garth Pierce, Vice-President of Exploration.

Mr. Michael W. Leahey, P.Geo., the Company's internal Qualified Person under the requirements of National Instrument 43-101, has reviewed a copy of this press release.

Mr. B. Terrence Hennessey, P.Geo., of Micon International Limited is a Qualified Person under the requirements of National Instrument 43-101 and has reviewed a copy of this press release.

On Behalf of the Board:

James J. Moore, President & CEO

ABOUT INTER-CITIC:

Toronto-based Inter-Citic Minerals Inc. is an exploration and development company with properties in the People's Republic of China, including its Dachang Gold Project in Qinghai Province. Inter-Citic is listed on the TSX under the symbol ICI. Inter-Citic's website is www.inter-citic.com.

Investors are encouraged to review "Risk Factors" associated with the Dachang project as outlined in the Company's 2007 Financial Statements and Annual Information Form available on the SEDAR website at www.sedar.com. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contacts

Stephen Lautens
Inter-Citic Minerals Inc.
Vice President, Corporate Communications
(905) 479-5072 x 227
Email: stephen@inter-citic.com
Website: www.inter-citic.com


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News