Thu
May 27, 2004
Inter-Citic Announces Release of Remaining
Assays from 2003 Program at Dachang
Balance
of drill holes and shaft data confirm
continuity of mineralization over large gold
structure
TORONTO,
ONTARIO - Inter-Citic Minerals Inc. (ICI:TSX-V)
today announced additional positive assay
results from the 2003 drilling and shaft
sinking program at its Dachang Gold Project in
Qinghai Province, China. These results further
define the gold zones in Anomaly #1, and are
consistent with those announced earlier this
year.
Among
the results released are assays from the
remaining eight holes of the 31-hole drill
program. Significant gold intercepts include
7.0 meters grading 6.91 g/t Au in Hole
ZK-11103 (which includes individual and
consecutive one metre assays of 13.4 g/t and
15.5 g/t), 8.46 g/t over 5.04 metres in Hole
ZK 3101, and 4.82 g/t over 6.0 metres and 7.17
g/t over 5.16 metres in Hole ZK-0803.
Significant shaft results include 6 metres
grading 12.13 g/t in Shaft QJ-4501.
"These
results represent the balance of work done in
2003 by our Chinese partner, the Qinghai
Geological Survey Institute, and provide
further confirmation of the continuity and
potentially significant size of the gold
system at Dachang," said James Moore,
President and CEO of Inter-Citic. "Our
2004 exploration program will focus on infill
drilling to better define known mineralization
in Anomaly #1, as well as drill testing of
highly prospective gold targets previously
identified elsewhere on the property. We are
confident that during the 2004 drill season we
will be able to install procedures to ensure
the timely reporting of results achieved on
the property."
Inter-Citic
and its Chinese partner currently have land
holdings confirmed or under application now
encompassing approximately 500 square
kilometers at Dachang. The Dachang Gold
Project hosts seven large gold geochemical
anomalies covering an area of approximately
150 square kilometres. Historical work within
this identified area has thus far been
confined to an area of approximately 30 square
kilometres.
Results
of the remaining eight drill holes and the
final two prospecting shafts are summarized
below.
| Drill
Results: |
| Hole
ZK-11103, (UTM co-ordinates X =
3907574.70, Y= 32522483.17) |
| From
(m) |
To
(m) |
Interval
(m) |
Assay
(g/t Au) |
| 8.65 |
9.65 |
1.0 |
1.90 |
| 11.65 |
12.65 |
1.0 |
1.00 |
| 12.65 |
13.65 |
1.0 |
1.12 |
| 99.97 |
100.97 |
1.0 |
2.14 |
| 150.34 |
150.57 |
0.23 |
2.90 |
| 158.93 |
159.93 |
1.0 |
2.77 |
| 163.93 |
170.93 |
7.0 |
6.91 |
| The
above interval includes the
following assay intervals: |
| 163.93 |
164.93 |
1.0 |
13.40 |
| 164.93 |
165.93 |
1.0 |
15.50 |
| 165.93 |
166.93 |
1.0 |
8.73 |
| 166.93 |
167.93 |
1.0 |
4.17 |
| 167.93 |
168.93 |
1.0 |
1.32 |
| 168.93 |
169.93 |
1.0 |
3.81 |
| 169.93 |
170.93 |
1.0 |
1.46 |
| 173.93 |
174.93 |
1.0 |
6.62 |
| |
| Hole
ZK-3101, (UTM co-ordinates X =
3909042.56, Y = 32524731.45) |
| From
(m) |
To
(m) |
Interval
(m) |
Assay
(g/t Au) |
| 13.56 |
14.56 |
1.0 |
1.04 |
| 22.73 |
23.73 |
1.0 |
2.35 |
| 31.82 |
36.86 |
5.04 |
8.46 |
| The
above interval includes the
following assay intervals: |
| 31.82 |
32.82 |
1.0 |
7.70 |
| 32.82 |
33.82 |
1.0 |
8.71 |
| 33.82 |
34.82 |
1.0 |
8.19 |
| 34.82 |
35.82 |
1.0 |
9.36 |
| 35.82 |
36.86 |
1.04 |
8.37 |
| 54.40 |
55.45 |
1.05 |
7.92 |
| |
| Hole
ZK-0803, (UTM co-ordinates X=
3906095.74, Y= 32524495.62) |
| From
(m) |
To
(m) |
Interval
(m) |
Assay
(g/t Au) |
| 11.26 |
17.26 |
6.0 |
4.82 |
| The
above interval includes the
following assay intervals: |
| 11.26 |
12.26 |
1.0 |
4.03 |
| 12.26 |
13.26 |
1.0 |
4.51 |
| 13.26 |
14.26 |
1.0 |
4.01 |
| 14.26 |
15.26 |
1.0 |
5.97 |
| 15.26 |
16.26 |
1.0 |
6.09 |
| 16.26 |
17.26 |
1.0 |
4.30 |
| 22.93 |
23.93 |
1.0 |
2.15 |
| 45.45 |
50.61 |
5.16 |
7.17 |
| The
above interval includes the
following assay intervals: |
| 45.45 |
46.45 |
1.0 |
2.77 |
| 46.45 |
47.45 |
1.0 |
8.66 |
| 47.45 |
48.45 |
1.0 |
8.88 |
| 48.45 |
49.45 |
1.0 |
7.61 |
| 49.45 |
50.61 |
1.16 |
7.82 |
| 71.26 |
72.26 |
1.0 |
5.27 |
| |
| Hole
ZK-14301, (UTM co-ordinates
X=3907968.06, Y= 32521946.52) |
| From
(m) |
To
(m) |
Interval
(m) |
Assay
(g/t Au) |
| 40.53 |
46.36 |
5.83 |
2.44 |
| The
above interval includes the
following assay results: |
| 40.53 |
41.53 |
1.0 |
2.60 |
| 41.53 |
42.22 |
0.69 |
7.72 |
| 42.22 |
43.22 |
1.0 |
1.53 |
| 43.22 |
44.22 |
1.0 |
1.59 |
| 44.22 |
45.22 |
1.0 |
1.54 |
| 45.22 |
46.36 |
1.14 |
1.42 |
| 55.54 |
58.09 |
2.55 |
2.32 |
| The
above interval includes the
following assay results: |
| 55.54 |
56.54 |
1.0 |
2.50 |
| 56.54 |
57.54 |
1.0 |
2.04 |
| 57.54 |
58.09 |
0.55 |
2.51 |
| |
| Hole
ZK-0802, (UTM co-ordinates
X=3906677.90, Y= 32524710.43) |
| From
(m) |
To
(m) |
Interval
(m) |
Assay
(g/t Au) |
| 50.49 |
51.49 |
1.0 |
1.13 |
| 51.49 |
52.49 |
1.0 |
1.02 |
| 55.49 |
56.55 |
1.0 |
2.68 |
| 56.55 |
57.55 |
1.0 |
1.08 |
| 65.69 |
66.69 |
1.0 |
2.67 |
| 66.69 |
67.69 |
1.0 |
1.00 |
| 67.69 |
68.69 |
1.0 |
3.67 |
| 74.05 |
75.05 |
1.0 |
1.14 |
| 80.70 |
81.70 |
1.0 |
1.61 |
| 84.85 |
85.85 |
1.0 |
2.55 |
| 87.85 |
88.85 |
1.0 |
3.74 |
| 88.85 |
89.85 |
1.0 |
2.13 |
| |
| Hole
ZK-11102, (UTM co-ordinates
X=3907968.06, Y= 32522511.00) |
| From
(m) |
To
(m) |
Interval
(m) |
Assay
(g/t Au) |
| 42.32 |
43.87 |
1.55 |
8.45 |
| |
| Hole
ZK-0801, (UTM co-ordinates
X=3907247.49, Y= 32524921.08)
returned no significant assays. |
| |
| Hole
ZK-26401, (UTM co-ordinates
X=3902688.28, Y=32528695.00)
returned no significant assays. |
| |
| Prospecting
Shaft Sinking Program: |
| Shaft
QJ-4501 (UTM co-ordinates
X=3907072.04, Y=32523704.81) |
| From
(m) |
To
(m) |
Interval
(m) |
Assay
(g/t Au) |
| 9.00 |
15.00 |
6.0 |
12.13 |
| The
above interval includes the
following assay results: |
| 9.00 |
10.00 |
1.0 |
12.60 |
| 10.00 |
11.00 |
1.0 |
3.10 |
| 11.00 |
12.00 |
1.0 |
2.00 |
| 12.00 |
13.00 |
1.0 |
20.00 |
| 13.00 |
14.00 |
1.0 |
15.70 |
| 14.00 |
15.00* |
1.0 |
19.40 |
| *bottom
of the shaft and end of sampling |
| |
| Shaft
QJ-9501(UTM co-ordinates
X=3907612.16, Y=32522835.69) |
| From
(m) |
To
(m) |
Interval
(m) |
Assay
(g/t Au) |
| 3.00 |
12.30 |
9.3 |
5.64 |
| The
above interval includes the
following assay results: |
| 3.00 |
4.00 |
1.0 |
5.47 |
| 4.00 |
4.50 |
0.5 |
9.33 |
| 4.50 |
5.50 |
1.0 |
12.00 |
| 5.50 |
6.50 |
1.0 |
10.80 |
| 6.50 |
7.50 |
1.0 |
6.67 |
| 7.50 |
8.50 |
1.0 |
4.50 |
| 8.50 |
9.50 |
1.0 |
1.64 |
| 9.50 |
10.50 |
1.0 |
1.55 |
| 10.50 |
11.50 |
1.0 |
4.21 |
| 11.50 |
12.30* |
0.8 |
1.15 |
| *bottom
of the shaft and end of the
sampling. |
| Note:
Shaft QJ-9501 was sunk in the area
of the up-dip projection of the
mineralization intersected in Hole
ZK-9501, which returned 1.3g/t Au
over 72.2m. This intersection
included 8.9g/t over 3.3m and 5.2g/t
Au over 6.6m (ref Press Release
January 8, 2004). The assay results
from this shaft support the
encouraging results encountered in
hole ZK-9501. |
Sampling
& Analysis
Sampling and analysis was carried out by
QGSI at a state owned laboratory facility in
Xining. Geologists selected the intervals to
be sampled. After being weighed and registered
on a sample transfer list, the samples were
sent to the QGSI laboratory in Xining, the
capital of Qinghai Province. At the QGSI
laboratory, the samples were dried and
pulverized. A 20 gram sample of the pulverized
material was used for analysis using wet
chemical methods.
This
press release was prepared by management,
including Mr. D. G. Wahl, P.Eng., P. Geo.,
Inter-Citic's internal Qualified Person for
the purposes of National Instrument 43-101,
and has been reviewed by Dr. George Cargill,
P.Eng., Inter-Citic's external Qualified
Person.
|
|
About
Inter-Citic Toronto-based Inter-Citic Minerals Inc. is a
gold exploration and development company with properties in
the People's Republic of China. The Company has strategic
partnerships with several large financially strong and
established groups in China to facilitate investment in
China for both Western and Chinese partners. Inter-Citic is
listed on the TSX Venture Exchange under the symbol ICI.
FOR
FURTHER INFORMATION PLEASE CONTACT:
Inter-Citic
Minerals Inc., James J. Moore, President & CEO, (416)
363-5055 or Flora Wood OR Sean Stokes Business Development
Linear Capital Corp. (416) 364-2266
The
TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content
of, this news release.
FORWARD
LOOKING STATEMENTS Certain statements in this press
release may constitute "forward-looking"
statements which involve known and unknown risks,
uncertainties and other factors which may cause actual
results, performance or achievements of Inter-Citic Minerals
Inc. (the "Company") to be materially different
from any future results, performance or achievements
expressed or implied by such forward-looking statements.
When used in this press release, such statements use such
words as "may," "will,"
"expect," "anticipate,"
"project," "believe," "plan"
and other similar terminology. The risks and uncertainties
are detailed from time to time in reports filed by the
Company with securities regulatory authorities to which
recipients of this press release are referred for additional
information concerning the Company, its prospects and the
risks and uncertainties relating to the Company and its
prospects. New risk factors may arise from time to time and
it is not possible for management to predict all of those
risk factors or the extent to which any factor or
combination of factors may cause actual results, performance
and achievements of the Company to be materially different
from those contained in forward-looking statements. Given
these risks and uncertainties, investors should not place
undue reliance on forward-looking statements as a prediction
of actual results. The forward-looking information contained
in this press release is current only as of the date of this
press release. There should not be an expectation that such
information will in all circumstances be updated,
supplemented or revised whether as a result of new
information, changing circumstances, future events or
otherwise.
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