2009-11-10 15:49:05 -
TORONTO, ONTARIO -- (Marketwire) -- 11/10/09 -- Inter-Citic Minerals Inc. (TSX: ICI)("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report results received from the Company's 2009 diamond drill program at its Dachang Gold Project in China. This release contains results from diamond drill holes sampled for in-fill testing as well as sampling for metallurgical and geotechnical purposes. The Company is operating six drill rigs at Dachang and further results from in-fill drilling as well as step-out exploration drilling will be reported as they are received and compiled. The Company considers the results of in-fill drilling contained in this release to be consistent with geological expectations.
Highlights:
-- Drill hole CJV-676 is a metallurgical test drill hole on the Dachang
Main Zone ("DMZ"), and intersected multiple mineralized zones, including
11.5 metres of mineralization averaging 5.45 GPT contained gold.
-- Drill hole CJV-680 is a metallurgical test drill hole on the DMZ, and
intersected multiple mineralized zones, including 21.1 metres of
mineralization averaging 7.01 GPT contained gold.
-- Drill hole CJV-685 is a metallurgical test drill hole on the DMZ, and
intersected multiple mineralized zones, including 26.3 metres of
mineralization averaging 4.72 GPT contained gold.
-- Drill hole CJV-687 is a metallurgical test drill hole on the DMZ, and
intersected multiple mineralized zones, including 53.7 metres of
mineralization averaging 5.40 GPT contained gold.
-- Drill hole CJV-694 is a metallurgical test drill hole on the DMZ, and
intersected multiple mineralized zones, including 8.8 metres of
mineralization averaging 3.56 GPT contained gold.
-- Drill hole CJV-697 is an infill hole on the DMZ, and intersected
multiple mineralized zones, including 4.2 metres of mineralization
averaging 6.55 GPT contained gold.
-- Drill hole CJV-705 is an infill hole on the DMZ, and intersected
multiple mineralized zones, including 5.2 metres of mineralization
averaging 4.85 GPT contained gold.
-- Drill hole CJV-707 is an infill hole on the DMZ, and intersected
multiple mineralized zones, including 7.9 metres of mineralization
averaging 3.05 GPT contained gold.
-- Drill hole CJV-713 is an infill hole on the DMZ, and intersected
multiple mineralized zones, including 8.1 metres of mineralization
averaging 4.55 GPT contained gold.
Detailed drilling results are set out in the chart below:
DDH
Hole No. Section Zone Dip Azimuth From To Length Au g/t
--------------------------------------------------------------------------
CJV-649 DMZ (met
13900 test) -42 20 22.20 34.10 11.90 4.70
CJV-653 DMZ
7100 (geotech) -90 20 196.50 197.80 1.30 2.90
CJV-655 DMZ
4700 (geotech) -90 20 151.20 151.90 0.70 1.63
CJV-656 DMZ
10700 (geotech) -90 20 98.00 99.00 1.00 0.61
110.65 113.65 3.00 2.03
117.65 119.43 1.78 0.54
134.90 135.90 1.00 0.54
CJV-657 DMZ
8850 (geotech) -90 20 109.40 110.50 1.10 1.11
125.90 129.00 3.10 2.47
131.60 132.50 0.90 2.76
138.70 149.60 10.90 1.99
152.60 153.40 0.80 3.09
CJV-660 DMZ
1500 (geotech) -90 20 87.70 92.20 4.50 1.11
117.70 123.80 6.10 0.97
127.80 128.80 1.00 3.23
150.40 152.40 2.00 2.62
159.90 161.40 1.50 0.59
CJV-661 DMZ
1720E (geotech) -90 20 57.30 58.30 1.00 0.72
145.30 147.30 2.00 1.12
CJV-662 DMZ
1560E (geotech) -90 20 28.50 31.50 3.00 0.72
55.00 56.00 1.00 4.20
124.20 125.20 1.00 0.62
165.30 166.30 1.00 2.15
183.30 186.50 3.20 0.85
189.50 191.50 2.00 0.98
196.50 197.50 1.00 1.54
CJV-673 DMZ (met
13900 test) -73 18.5 33.00 35.00 2.00 2.98
39.50 47.50 8.00 3.22
70.00 70.50 0.50 2.46
CJV-676 DMZ (met
12100 test) -73 20 11.00 22.50 11.50 5.45
25.20 27.80 2.60 0.98
33.50 34.50 1.00 1.56
50.70 52.70 2.00 2.34
55.00 58.60 3.60 3.30
63.20 66.80 3.60 2.36
70.10 70.80 0.70 0.54
CJV-680 DMZ (met
11100 test) -83 20 34.00 48.10 14.10 4.22
57.50 78.60 21.10 7.01
82.70 87.40 4.70 9.53
CJV-682 DMZ (met
10025 test) -45 20 35.80 41.50 5.70 2.02
45.20 48.80 3.60 6.46
CJV-685 DMZ (met
10025 test) -75 20 14.40 15.40 1.00 0.52
17.60 18.70 1.10 0.61
42.80 45.50 2.70 10.90
49.00 50.00 1.00 1.23
57.90 61.50 3.60 2.94
64.80 91.10 26.30 4.72
97.00 98.20 1.20 0.65
CJV-686 DMZ (met
7500 test) -45 20 7.90 18.00 10.10 4.76
36.00 39.00 3.00 1.20
CJV-687 DMZ (met
4700 test) -65 20 26.00 33.00 7.00 2.58
41.30 95.00 53.70 5.40
97.70 98.60 0.90 1.22
108.90 114.00 5.10 1.60
CJV-690 DMZ (met
3500 test) -45 20 4.30 7.80 3.50 0.76
19.00 21.20 2.20 0.81
32.40 40.80 8.40 1.68
CJV-693 DMZ (met
3500 test) -83 21 33.80 34.80 1.00 1.01
39.70 45.00 5.30 2.02
CJV-694 DMZ (met
8700 test) -73 20 38.30 47.10 8.80 3.56
49.50 52.00 2.50 2.28
61.60 66.80 5.20 1.06
CJV-696 790E PV (expl) -45 20 13.60 14.60 1.00 1.16
28.10 30.20 2.10 1.37
CJV-697 DMZ
7300 (infill) -53 20 35.00 39.20 4.20 6.55
42.30 44.80 2.50 4.83
CJV-700 DMZ
7700 (infill) -50 20 66.50 67.80 1.30 0.52
CJV-701 DMZ
7300 (infill) -65 20 79.00 80.00 1.00 1.08
95.30 97.30 2.00 4.44
103.70 108.70 5.00 1.18
117.70 119.00 1.30 1.41
CJV-703 DMZ
7300 (infill) -48 20 66.80 68.00 1.20 1.46
CJV-704 DMZ
7300 (infill) -60 20 69.70 72.70 3.00 4.85
76.70 77.70 1.00 1.60
85.00 86.00 1.00 1.02
120.80 121.80 1.00 1.05
CJV-705 DMZ
6900 (infill) -65 20 57.70 58.70 1.00 0.65
60.70 61.70 1.00 0.60
65.10 66.30 1.20 0.92
70.30 75.50 5.20 4.85
CJV-707 DMZ
6900 (infill) -50 20 8.00 9.50 1.50 3.53
27.40 35.30 7.90 3.05
CJV-712 DMZ
6500 (infill) -55 20 31.40 32.40 1.00 0.54
60.70 67.70 7.00 0.77
81.50 85.50 4.00 5.08
CJV-713 DMZ
6300 (infill) -70 20 52.80 60.90 8.10 4.55
67.90 68.90 1.00 0.57
CJV-732 DMZ
5400 (infill) -50 20 22.70 23.70 1.00 1.39
26.70 29.70 3.00 2.32
CJV-733 DMZ
5400 (infill) -45 20 61.00 62.00 1.00 0.72
66.00 70.00 4.00 0.86
76.00 82.00 6.00 1.52
CJV-734 DMZ
2700 (infill) -50 20 17.80 22.60 4.80 3.08
46.00 48.00 2.00 1.16
55.00 57.00 2.00 0.60
74.10 78.30 4.20 3.35
96.40 97.40 1.00 0.96
CJV-736 DMZ
6100 (infill) -69 20 82.50 83.50 1.00 2.40
118.20 122.70 4.50 4.66
DMZ: Dachang Main Zone - The original 2km long zone of mineralization
defined by the 2006 DDH program
DMZ-X: Dachang Main Zone Extension - A 1.5 km long zone of mineralization
extending off the eastern end of the
DMZ as defined by the 2007 DDH program
PVZ: Placer Valley Zone - A south dipping mineralized fault 1 km south of
the DMZ
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 and none were topcut. True widths for the intervals above have yet to be determined.
Step-out drill holes are in new areas of the Dachang Gold Property adjacent to the Company's existing NI 43-101-compliant inferred resource area on the DMZ, or on the Company's Placer Valley anomaly (PVZ), a mineralized fault zone approximately 1 km to the south of the DMZ.
Infill holes are testing continuity of the Company's existing NI 43-101-compliant inferred resource area on the total 4 km extent of the Dachang Main Zone. Infill drilling is also a required step towards applying for a Chinese mining permit.
A visual representation of the location of the drill holes in this release can be seen at:
www.corebox.net/properties/dachang/ :
or as a map on the Company's website. A location map showing drill hole locations is available on the Company's website at:
www.inter-citic.com/maps.htm.
The Company still has six drills currently operating at Dachang in several areas of the property. Assay results will be reported as they become available.
Sample Methodology:
Drill core samples were taken at geologically significant intervals, typically over one metre. Core recovery was in excess of 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 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 with properties in the People's Republic of China, including its Dachang Gold Project in Qinghai Province. 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 2008 Financial Statements 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 x 227
stephen@inter-citic.com :
