2009-11-24 15:30:10 -
TORONTO, ONTARIO -- (Marketwire) -- 11/24/09 -- Inter-Citic Minerals Inc. (TSX: ICI) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report new results received from the Company's 2009 diamond drill program at its Dachang Gold Project in China.
"Our 2009 infill drill program at Dachang continues to show remarkable consistency," said James Moore, President and CEO of Inter-Citic. "While results of our infill program will continue to be reported, we are now concentrating on drilling new areas of discovery."
Drilling results highlights include:
-- Drill hole CJV-737 is an infill drill hole on the Dachang Main Zone
("DMZ"), and intersected multiple mineralized zones, including 17.30
metres of mineralization averaging 2.62 GPT contained gold.
-- Drill hole CJV-742 is an infill drill hole on the DMZ, and intersected
multiple mineralized zones, including 10.40 metres of mineralization
averaging 4.49 GPT contained gold.
-- Drill hole CJV-746 is an infill drill hole on the DMZ, and intersected a
mineralized zone of 8.80 metres of mineralization averaging 8.26 GPT
contained gold.
-- Drill hole CJV-755 is a drill hole on the Place Valley Zone (PVZ), and
intersected multiple mineralized zones, including 4.00 metres of
mineralization averaging 5.73 GPT contained gold.
-- Drill hole CJV-756 is a drill hole on the Place Valley Zone (PVZ), and
intersected a mineralized zone of 7.80 metres of mineralization
averaging 3.21 GPT contained gold.
Detailed drilling results are set out in the chart below:
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Section GPT
DDH Hole No. Zone Line Dip Azimuth From To Length Au
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CJV-737 DMZ 2700 -50 20 39.60 40.60 1.00 1.88
43.00 44.00 1.00 1.96
66.70 67.70 1.00 2.21
77.70 79.20 1.50 1.51
81.70 99.00 17.30 2.62
CJV-738 DMZ 2325 -50 20 17.70 18.70 1.00 1.79
CJV-739 DMZ 6300 -85 20 no significant assays
CJV-740 DMZ 2375 -50 20 20.20 27.70 7.50 3.02
30.70 31.70 1.00 0.85
33.70 36.00 2.30 0.55
88.20 89.20 1.00 1.58
92.20 93.20 1.00 1.64
CJV-741 DMZ 6500 -55 20 74.30 75.30 1.00 0.82
120.00 122.00 2.00 3.00
128.00 130.00 2.00 0.79
CJV-742 DMZ 2700 -80 20 53.70 66.90 13.20 1.63
69.00 72.00 3.00 1.08
75.70 81.20 5.50 2.10
84.00 85.00 1.00 2.43
92.90 93.90 1.00 1.80
96.00 97.00 1.00 0.71
107.50 108.50 1.00 0.84
112.50 122.90 10.40 4.49
CJV-745 DMZ 9500 -45 20 15.20 16.20 1.00 1.02
20.20 23.20 3.00 1.59
25.70 26.70 1.00 3.53
CJV-746 DMZ 10700 -45 20 8.20 9.20 1.00 1.38
27.90 36.70 8.80 8.26
CJV-747 DMZ 11300 -50 20 8.40 9.80 1.40 2.47
CJV-748 DMZ 1100 -50 20 19.30 20.30 1.00 2.59
CJV-750 DMZ 2700 -80 20 47.60 48.60 1.00 6.12
96.70 101.00 4.30 1.24
115.60 116.90 1.30 0.55
122.10 124.30 2.20 2.26
127.40 130.00 2.60 1.15
136.40 137.40 1.00 4.10
CJV-751 DMZ 750 -50 20 44.20 45.20 1.00 0.58
81.20 82.20 1.00 6.78
CJV-752 DMZ 6300 -55 20 7.00 8.00 1.00 0.72
14.90 17.00 2.10 2.00
32.70 34.10 1.40 0.82
CJV-753 DMZ 6100 -55 20 20.80 22.00 1.20 2.60
CJV-754 DMZ 750 -88 20 31.50 32.50 1.00 0.90
CJV-755 PVZ 2900 -55 20 37.40 38.40 1.00 0.99
58.70 60.70 2.00 1.12
65.00 69.00 4.00 5.73
CJV-756 PVZ 3300 -50 20 5.90 9.00 3.10 2.27
12.50 20.30 7.80 3.21
CJV-757 DMZ 750 -50 20 no significant assays
CJV-758 DMZ 6100 -70 20 82.00 84.00 2.00 3.18
112.10 113.20 1.10 0.89
116.20 117.40 1.20 0.90
122.50 125.50 3.00 0.90
CJV-759 PVZ 3300 -50 20 53.60 54.60 1.00 1.17
CJV-760 PVZ 2900 -50 20 10.00 11.00 1.00 2.80
CJV-761 PVZ 3300 6.80 20.00 13.20 1.64
-50 20 60.00 61.00 1.00 13.80
DMZ: Dachang Main Zone - A continuous approximately 4 km long zone of
mineralization that includes the original 2km long zone of mineralization
defined by the 2006 DDH program and the Dachang Main Zone Extension
(originally called the DMZ-X) that extends off the eastern end of the DMZ as
defined by the 2007 and 2008 DDH programs.
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.
The Company is operating seven 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.
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.
Sample Methodology:
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 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.
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 property 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 :
www.inter-citic.com :
