Tuesday, 19 June 2012

Inter-Citic boosts Measured & Indicated resource estimate by 320,000 ounces at Dachang Gold Project

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.

Inter-Citic said 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.

The 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.

Since 2004 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.

In 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.

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