Inter-Citic Minerals Inc. (TSX:ICI) President and CEO James Moore, has reported on drill hole results in five of its new areas of exploration as part of its ongoing 2010 drill program at its Dachang Gold Project in China.
The 2010 exploration program is focused entirely in new areas at Dachang targeting near-surface resource expansion.
All exploration drill holes reported by the company in this release intersected gold mineralization, many intersecting multiple intervals.
Significant results include numerous drill holes in the Acadia Zone. Drill hole CJV-1064 on the Acadia Zone intersected 32.3 metres of mineralization averaging 1.93 GPT contained gold, including 6.0 metres of 3.83 GPT gold. It also had an additional 11.5 metres of mineralization averaging 0.77 GPT contained gold, and 3.0 metres grading 3.58 GPT gold. According to the Company's interpretation, the estimated true width of the zone of gold mineralization intersected by drill hole CJV-1064 is approximately 20 metres, including several zones from 6 to 8 metres true thickness that do not change too much in thickness from surface to depth and are separated by short barren intervals.
Drill hole CJV-1058A, also in the Acadia Zone, intersected 12.3 metres of mineralization averaging 3.01 GPT contained gold. Drill hole CJV-1056 in the Acadia Zone intersected 8.0 metres of mineralization averaging 2.64 GPT contained gold.
"The Acadia Zone is yielding particularly satisfying early results," said Garth Pierce, VP Exploration of Inter-Citic Minerals. "We have now encountered multiple longer intercepts of gold mineralization increasingly defining a structure very similar to the Dachang Main Zone resource area. All these intercepts are outside areas of existing resource inventory, and we are now looking to the Acadia Zone as a potentially significant new discovery at Dachang."
The Acadia Zone appears to have fine-grained disseminated and fracture controlled sulphides as in the Dachang Main Zone resource area, but also a new style of mineralization in highly altered package of sediments with more abundant arsenopyrite stringers/veinlets and fine to coarse grained clotted pyrite. A sectional view of drill hole CJV-1064 is available on the company's website.
The "Acadia Zone" is located approximately 9 kilometres northwest of the Dachang Main Zone along the dominant Carbonate Thrust Fault that transects the property. Drilling and trenching have now defined the Acadia Zone along a 1.6 kilometre strike length.
The DMZ Extension ("DMZ-X") is new exploration that continues off the eastern end of the current DMZ resource area. It consists of two separate south dipping fault structures – the "Upper Zone" and the "DMZ Projection" to the south. Both complex fault systems are mineralized and open to the east.
Drilling in 2010 in the North River ("NR") district of the property has discovered a series of parallel steeply dipping mineralized faults that cross the 1.5 kilometre long NR-1 anomaly. The rock in the NR-1 area differs from that of Dachang as it is intensely silicified with moderate sericite and minor carbonate alteration.
The Placer Valley East ("PVZ-E") Zone continues off the eastern extent of the previously defined Placer Valley Zone to the south of the Dachang Main Zone.
The XP Zone is in the centre of the Dachang property, and continues off the eastern extent of the 861 Zone. It has demonstrated strong zones of surface gold mineralization, and is believed by the Company to be the continuation of the mineralized fault structure that trends towards the southeast across the property from the 861 Zone.
Drilling continues at Dachang with up to six drills operating on these new targets. Additional assays will be reported as received by the Company.
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 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. Gerald Bidwell, P.Geo., the Company's internal Qualified Person under the requirements of National Instrument 43-101, has reviewed and approved the results reported in 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.
Source: Inter-Citic Minerals Inc.