Inter-Citic Minerals Inc. Reports Drill Results from 2011 Exploration Program at Dachang
14.02.2012 | Marketwired
Results Include Drill Holes With Intervals of 13.0 Metres at 3.61 GPT Gold and 12.0 Metres at 3.50 GPT Gold.TORONTO, ONTARIO -- (Marketwire) -- 02/14/12 -- Inter-Citic Minerals Inc. (TSX: ICI) (OCTQX: ICMTF) ('Inter-Citic' or 'the Company') President and CEO James Moore, is pleased to report the fifth and final set of drill results from 26 diamond drill holes received from the 2011 exploration season at the Company's Dachang Gold Project.
These results are all from the 861 Zone at Dachang, which now appears to be related to the same structure hosting the previously reported XP Zone. This mineralized fault structure has now been delineated by the Company through drilling and trenching over a 2.8 km strike length. The eastern and western extensions of the fault structure remain open and additional drilling will be required in the central portion of this fault to fully test its potential. It is the Company's belief that the 861/XP Zone could be the basis for a potential second shallow open pit at Dachang in addition to the already defined Dachang Main Zone resource area.
Highlights of the current results include:
- Drill hole CJV-1268 on the 861 Zone which reported an interval of 6.0 m with an average grade of 3.20 GPT gold.
- Drill hole CJV-1270 on the 861 Zone which reported an interval of 3.0 m with an average grade of 3.21 GPT gold.
- Drill hole CJV-1278 on the 861 Zone which reported an interval of 13.0 m with an average grade of 3.61 GPT gold.
- Drill hole CJV-1280 on the 861 Zone which reported an interval of 4.5 m with an average grade of 4.16 GPT gold.
- Drill hole CJV-1314 on the 861 Zone which reported an interval of 12.0 m with an average grade of 2.09 GPT gold.
- Drill hole CJV-1315 on the 861 Zone which reported an interval of 12.0 m with an average grade of 3.50 GPT gold.
Exploration of the 861/XP Zones:
The 861/XP fault system has been an important focus of Inter-Citic's 2011 exploration program. The 861 and XP Zones have shown consistent gold bearing sulfides within steeply south dipping faults originally thought to be 1,800 metres apart. Drilling in 2011 has led the Company to believe this is now likely a single continuous mineralized fault structure with a total strike length of approximately 2.8 km. This long fault structure hosts mineralization characteristically similar to that found in the Dachang Main Zone ('DMZ'). Like the Dachang Main Zone resource area, gold mineralization occurs within a few meters of surface and continues to depth along a strong steeply south dipping shear zone to at least approximately 125 metres, which is the current limit of the Company's drill testing.
A table of drill results reported in this release is set out below:
TABLE OF DRILL RESULTS
861 Zone
DDH Dip Bearing From To Length Assay
Hole No. (Degrees) (Degrees) (m) (m) (m) GPT Au
CJV-1261 -54 22.0 134.00 135.50 1.50 0.57
164.80 169.20 4.40 2.03
CJV-1268 -50 16.0 42.00 48.00 6.00 3.20
CJV-1270 -56 16.0 53.00 56.00 3.00 3.21
CJV-1275 -75 21.0 62.00 68.00 6.00 0.55
75.50 77.00 1.50 0.58
83.00 84.00 1.00 1.03
CJV-1278 -45 19.0 60.65 73.65 13.00 3.61
CJV-1279 -50 19.5 19.15 20.65 1.50 0.55
40.85 45.40 4.55 2.74
CJV-1280 -64 18.0 98.00 102.50 4.50 4.16
116.00 117.10 1.10 1.27
CJV-1281 -52 22.0 45.00 46.00 1.00 2.13
CJV-1287 -52 19.0 40.00 41.00 1.00 0.54
46.00 47.00 1.00 1.48
64.00 67.00 3.00 1.78
CJV-1288 -45 21.0 24.65 26.15 1.50 1.15
61.65 62.65 1.00 1.23
65.65 67.65 2.00 1.06
CJV-1289 -76 22.0 37.90 38.90 1.00 1.23
51.90 52.90 1.00 0.51
CJV-1292 -77 20.0 42.00 43.00 1.00 0.72
53.00 59.00 6.00 1.74
64.00 67.00 3.00 1.59
74.00 75.50 1.50 4.75
78.50 80.00 1.50 1.29
CJV-1294A -76 22.0 65.65 67.15 1.50 0.67
101.65 103.65 2.00 1.27
117.80 120.40 2.60 1.84
CJV-1295 -72 21.5 32.20 33.20 1.00 1.54
78.65 79.65 1.00 0.66
103.65 104.65 1.00 1.22
CJV-1296 -55 22.0 31.80 32.80 1.00 2.54
CJV-1298 -45 22.0 10.15 11.65 1.50 1.77
CJV-1303 -45 22.0 13.50 14.90 1.40 0.90
CJV-1304 -52 22.0 68.00 69.00 1.00 1.10
CJV-1306 -52 22.0 35.50 36.50 1.00 0.64
CJV-1310 -75 22.0 20.00 21.10 1.10 1.32
31.70 32.70 1.00 0.99
45.80 46.90 1.10 4.04
CJV-1312 -52 22.0 36.50 38.00 1.50 0.66
99.50 100.50 1.00 0.90
105.80 107.00 1.20 1.06
138.00 139.00 1.00 0.68
CJV-1314 -46 22.0 35.00 47.00 12.00 2.09
CJV-1315 -74 22.0 57.50 69.50 12.00 3.50
73.30 76.60 3.30 1.00
CJV-1316 -65 22.0 34.40 43.10 8.70 1.34
60.40 66.10 5.70 1.32
CJV-1318 -74 22.0 88.00 92.30 4.30 1.79
103.00 104.00 1.00 0.65
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 in the above results and no results were topcut.
True widths for the intervals above have yet to be determined.
A location map showing drill hole locations and an overview of the areas reported above can be found on the Company's website at: www.inter-citic.com. A visual representation of the location of the drill holes in this release can be seen at: www.corebox.net.
In 2011 Inter-Citic drilled 183 diamond drill holes at Dachang for a total of 25,003 metres, with 140 holes making the cut-off of 0.5g/t and up to 2 metres of internal waste. A total of 43 holes did not make the cut-off, including holes drilled for the purposes of condemnation drilling.
Sample Methodology:
Drill core samples were taken at geologically significant intervals, typically over one metre. Core recovery was approximately 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 and precision of the results is tested through the systematic inclusion of reference samples, blank 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 (No. 5 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 advancing its Dachang Gold Project in the People's Republic of China. 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 2010 Financial Statements, MD&A and Annual Information Form, along with updates, 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:
Inter-Citic Minerals Inc.
Stephen Lautens
Vice President, Corporate Communications
(905) 479-5072
ir@inter-citic.com
www.inter-citic.com
