TORONTO, ONTARIO--(Marketwire - March 27, 2012) - Inter-Citic Minerals Inc. ICIICMTF ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report trench results received from the 2011 exploration season at the Company's Dachang Gold Project.
Trenching continues to be the primary method for new discoveries at Dachang. Due to the thin soil cover and near-surface mineralization observed throughout the property as trenching is also one of the most successful and cost-effective methods of gold exploration at Dachang. A consistent spatial relationship has been observed between the gold in soil anomalies, trench values and underlying strongly altered and mineralized fault zones.
The results in this release represent the final summary of significant trenching discoveries made during the course of 2011's almost 21,000 metre trench program. During 2011's trenching four new areas of surface discovery were made - two in the southeast part of the of Dachang property, one north of the original Dachang Main Zone ("DMZ") and a final area of discovery southwest of the Placer Valley Zone ("PVZ"). In addition, the 861 and Acadia Zones of discovery were expanded by this trenching program. In all cases these discoveries are fault controlled sulfide gold mineralization similar to the DMZ. All new discoveries are open to expansion by additional drilling and trenching programs now being planned for 2012.
The most advanced new discovery at Dachang expanded by 2011's trenching program is the 861/XP fault system, which has now been drill tested on its known western and eastern extents. This fault system north of the DMZ had been delineated along a 2.8 km extent. The 861 Zone located on the fault's west end is still open to the west and has now been consistently intersected in trenches and 40 meter spaced drill fences along a 1.4 kilometre strike length to depths of 125 to 150 meters. A central section of this fault requiring further drill testing lies between the 861 Zone from the nearby XP Zone. The XP Zone remains open along strike to the east.
Maps showing the location of the new 2011 areas of discovery and initial targets being considered for the 2012 exploration season is available on the Company's website.
A table of trench results reported in this release is set out below:
TABLE OF TRENCH RESULTS
861 Zone
Trench Length Assay Gram/
Number From (m) To (m) (m) Au g/t Metres
T-4405 7.00 11.00 4.00 3.30 13.20
T-50502 16.00 23.00 7.00 3.08 21.56
T-54501 7.00 17.00 10.00 1.33 13.30
T-6404 36.00 41.00 5.00 2.52 12.60
T-6804 11.50 16.50 5.00 3.46 17.25
T-7004 19.00 26.00 7.00 2.45 17.15
T-7402 21.50 40.50 19.00 1.53 29.07
T-7606 66.00 78.00 12.00 1.23 14.76
T-7803 22.00 32.00 10.00 1.34 13.40
T-8004 19.00 27.00 8.00 3.08 24.64
T-8404 20.00 32.50 12.50 1.55 19.38
T-84502 51.00 55.00 4.00 2.91 11.64
TJ-4606 10.00 13.00 3.00 7.28 21.84
TJ-8401 12.00 16.00 4.00 2.58 10.32
Acadia Zone
Trench Length Assay Gram/
Number From (m) To (m) (m) Au g/t Metres
T-14201 117.00 125.00 8.00 1.65 13.12
T-2015 2.00 19.00 17.00 1.10 18.70
T-30501 11.50 31.50 20.00 1.80 36.00
TJ-2906 9.00 15.00 6.00 2.78 16.68
T460501 22.00 27.00 5.00 2.97 14.85
DMZ-N
Trench Length Assay Gram/
Number From (m) To (m) (m) Au g/t Metres
T-11104 33.00 38.00 5.00 3.90 19.50
T-3111 24.50 29.50 5.00 4.07 20.30
T-3111 45.00 52.00 7.00 2.96 20.72
T-3511 11.00 16.00 5.00 4.55 22.75
T-3511 46.00 55.00 9.00 1.53 13.77
T-5305 59.00 65.00 6.00 3.18 19.08
T-5705 14.00 20.00 6.00 1.89 11.34
T-6505 17.50 22.50 5.00 3.99 19.95
T-7506 14.00 23.50 9.50 3.33 31.64
South East Anomaly (SEA)
Trench Length Assay Gram/
Number From (m) To (m) (m) Au g/t Metres
T-26002 66.50 83.50 17.00 6.65 113.05
T-26003 25.50 32.50 7.00 1.47 10.29
T-26204 16.00 21.00 5.00 2.84 14.20
T-26404 11.00 19.00 8.00 2.90 23.20
T-26603 55.80 63.80 8.00 2.94 23.52
T-26604 68.50 72.50 4.00 3.80 15.20
T-26607 21.40 27.60 6.20 1.79 11.10
T-26802 10.00 16.00 6.00 4.67 28.02
T-27002 8.00 27.00 19.00 2.55 48.45
T-27405 22.50 23.50 1.00 12.00 12.00
T-27406 20.20 25.70 5.50 3.04 16.72
T-28005 13.00 18.00 5.00 3.19 15.95
T-28402 25.00 34.00 9.00 3.49 31.41
T-28805 31.00 39.00 8.00 1.27 10.16
T-29003 8.00 14.00 6.00 1.91 11.46
T-29004 30.00 33.00 3.00 3.99 11.97
T-29207 55.00 57.00 2.00 5.85 11.70
T-29602 7.00 15.00 8.00 1.94 15.52
T-29801 16.00 24.00 8.00 1.51 12.16
T-30001 88.30 99.30 11.00 3.42 37.62
T-30203 39.00 42.50 3.50 5.01 17.54
T-30402 11.30 16.30 5.00 2.33 11.65
T-30403 13.60 20.60 7.00 2.50 17.50
T-30601 49.70 57.70 8.00 3.40 27.20
T-30601 81.50 85.30 3.80 3.24 12.31
T-30801 43.50 50.50 7.00 2.35 16.45
T-31002 63.00 68.40 5.40 6.44 34.78
T-31002 71.00 76.00 5.00 3.71 18.55
T-31002 81.10 86.10 5.00 3.13 15.65
T-31203 17.30 25.00 7.70 9.00 69.30
T-31401 35.10 40.10 5.00 2.60 13.00
T-31402 35.50 40.50 5.00 6.44 32.20
T-31603 7.50 17.50 10.00 5.55 55.50
T-32401 3.60 9.80 6.20 1.99 12.34
T-32601 40.50 46.30 5.80 4.00 23.20
T-33002 26.00 33.00 7.00 2.59 18.13
T-34001 59.70 63.00 3.30 3.25 10.73
T-34003 36.50 38.50 2.00 6.19 12.38
T-34601 36.00 40.00 4.00 5.23 20.92
T-34601 90.00 103.20 13.20 3.52 46.46
T-34602 34.30 38.30 4.00 2.89 11.56
T-35401 29.60 32.80 3.20 4.50 14.40
T-35601 56.00 66.60 10.60 2.80 29.68
T-35801 18.00 23.00 5.00 2.58 12.85
T-36001 27.00 30.00 3.00 4.92 14.76
T-37801 67.00 71.00 4.00 5.84 23.36
South West Dachang
Trench Length Assay Gram/
Number From (m) To (m) (m) Au g/t Metres
T-2110 7.20 10.20 3.00 10.26 30.78
TJ-2507 100.00 102.00 2.00 5.75 11.50
TJ-2903 87.70 99.70 12.00 0.86 10.32
TJ-2903 11.00 13.00 2.00 9.58 19.16
Assay cut-off for the above trench results was at 0.5 gpt Au, however, intervals were determined by geological interpretation of consistent mineralized zones. Trench results in this release were further restricted to those that returned values in excess of 10.0 gram metres (metres multiplied by grams per tonne). None of the above results required topcutting as no individual assay value exceeded 40 gpt Au. Broader intervals may include waste intervals of up to 2m. True widths for the intervals above have yet to be determined.
A map showing zone locations is available on the Company's website at: http://www.inter-citic.com/maps.php.
Sample Methodology:
Trench chip-channel samples were taken at geologically established intervals consistent with the width of each mineralized area exposed in the trench. The sample interval was typically one meter. The individual samples collected over the designated intervals are representative of the material for the respective intervals. The sample interval and collection methodology are consistent with industry standards.
Each of the trenches listed above was excavated on lines spaced variably at a minimum of 40m to a maximum of 120m intervals. All trenches sampled in 2011 were excavated by backhoe and most uncovered broken bedrock at depths of 1.5 to 2.5 metres, which was typically altered and highly deformed sediments. All trenches are mapped in detail and channel samples are taken at one metre intervals across all mineralized zones.
Samples were collected using 1.0 to 1.5 metre chip samples, each weighing approximately 3 to 5 kg. Qualified Chinese geologists and technicians under the direct field supervision of Mr. Garth Pierce, Inter-Citic's Vice President of Exploration, carry out the trench sampling.
Each sample is secured and transported to the Qinghai Institute of Rock and Mineral Testing and Application, located in Xining, Qinghai, PRC, or to the Research Center of Xi'an Institute of Geology and Mineral Resources located in Xi'an, Shaanxi Province, PRC, both independent arm's length Chinese government laboratories. At each respective laboratory, each sample is dried, crushed and a portion ground to minus 200 mesh. The gold content of each sample was determined by analyzing a 20 gram sample of the minus 200 mesh material through an aqua regia acid digestion and then analyzed for gold using atomic absorption. Accuracy of the results is tested through the systematic inclusion of standards and replicate samples.
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.
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 and on the OTCQX under ICMTF. 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 2011 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
