China-focused Inter-Citic Minerals Inc. (TSE:ICI) Tuesday unveiled an updated NI 43-101 compliant mineral resource estimate for the company's flagship Dachang Gold Project, one of the largest undeveloped gold projects in China.
the latest mineral resource estimate increased the Measured and
Indicated mineral resource by an additional 320,000 ounces of gold, plus
another an additional 250,000 ounces in the Inferred category.
current NI 43-101 compliant mineral resource estimate at Dachang now
stands at a total estimated Measured and Indicated mineral resources of
2.20 million ounces contained gold (22.52 million tonnes grading 3.04
grams per tonne gold) plus an Inferred mineral resources of an
additional 2.18 million ounces contained gold (25.91 million tonnes
grading 2.62 grams per tonne gold).
Of the estimated Measured
and Indicated mineral resources, 320,000 ounces (5.32 million tonnes
grading 1.80 grams per tonne gold) are outside the Dachang Main Zone on
the 861/XP fault structure.
The latest mineral resource has been
updated with the results from the 2011 exploration program with a total
of 25,003 meters of drilling in 317 diamond drill holes and
approximately 21,000 metres of surface trenching.
Inter-Citic has drilled 1,362 diamond drill holes at Dachang totaling
174,000 metres and has excavated and sampled 1,108 trenches totaling
more than 109,000 linear metres.
Dachang is a 279 square
kilometre property in the Qinghai Province of Western China. The project
is an extensive sediment-hosted system of at-surface gold
mineralization that is currently in the permitting stage.
March, Inter-Citic reported trenching results from its 2011 exploration
season at the Dachang gold project that defined and extended new areas
of gold mineralization. Highlights of the latest trench results include
17.0 metres of 6.65 grams per tonne (g/t) gold, or 113.05 gram-metres
gold in the southeast area.
Toronto-based Inter-Citic Minerals is an exploration and development company advancing its Dachang Gold Project in the People's Republic of China.
Maps and full details of the resource estimate are available on the company’s website: www.inter-citic.com.