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From: Nigel
ArtDate: 14th September 2006
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 87.74.94.108
Date: 20/09/06
Time: 09:01
14th September 2006
Leyshon Resources Ltd Intersects 600.75 g/t gold (19 ounces) Bonanza Grade Epithermal Vein
News Item - Conduit PR
Leyshon Resources Ltd intersects 600.75 g/t gold (19 ounces) bonanza grade epithermal vein at its Zheng Guang gold-silver-zinc project, China
Leyshon Resources Limited (“Leyshon”) (ASX & AIM: LRL) today reports that it has intersected a bonanza grade epithermal gold vein during its drill programme to extend the 1.2 million ounce Zheng Guang gold-zinc-silver project in Heilongjiang, northeast China.
Results from hole ZGD113 located 200 metres to the north west of the Main Ore Zone includes a one metre intersection grading 600.75 g/t gold, 445 g/t silver and 5.34% zinc which equates to approximately 19 ounces gold, 14 ounces silver and over 5% zinc per tonne. Repeat assays on the gold were 576, 598, 601 and 628 g/t gold. Full results are detailed below.
ZGD113 is the seventh diamond drill hole to be assayed of the 38 holes drilled to date and the result is one of a number of high grade gold and zinc intersections obtained during this round of drilling including ZGD102 11 metres grading 8.32 g/t gold, 29 g/t silver and 2.46% Zinc (including one metre at 45.65 g/t gold, 157 g/t silver and 17.27% zinc). Further results on the remaining drill holes are expected shortly.
Zheng Guang has been interpreted as carbonate base metal gold deposit. These types of deposit represent some of the most prolific producers in the SW Pacific Rim and elsewhere. High to bonanza gold grades, such as those intersected in hole ZGD113, can be expected to form part of this style of mineralisation.
A feature of Zheng Guang is the strong positive correlation between the high grade gold and zinc mineralisation which is reflected in the high zinc grade in ZGD113.
Angled drilling in this year’s programme is providing a better understanding of the structural controls and a more accurate estimate of the true width and grade of the steeply dipping high grade gold and zinc veins that make up a large proportion of the Zheng Guang resource.
Managing Director Paul Atherley commented: “In line with our strategy to expand the 1.2 million ounce Main Ore Zone, and finalise the mine development studies, these drilling results bode well for the continued development of our project closer to a production decision .”
This year’s programme is the largest to be undertaken in Heilongjiang in recent years and comprises 10,000 metres of diamond drilling and 20,000 metres of reverse circulation drilling. The programme is expected to increase the initial inferred resource estimate of 930,000 ounces gold, 64,000 tonnes zinc and 2.6 million ounces silver (1.2 million equivalent based on 1 g/t gold = 1% zinc) which was estimated on the results from the 2005 programme.
Leyshon has firmly established its presence in China over the past three years and is pioneering the opening up of the mineral rich province of Heilongjiang to modern exploration techniques and foreign investment.
Leyshon has recently entered into a 20 year joint venture agreement with the Qiqiha’er Brigade for the financing development and mining of the Zheng Guang Project. Leyshon remains one of the very few foreign resource companies with its main operating office in Beijing.
For further information contact:
Paul Atherley - Managing Director Leesa Peters Conduit PR Tel: +86 137 1800 1914 Tel: +44 (0) 20 7429 6600 Mob: +61 417 475 038 Mob: +44 (0) 781 215 9885
Leesa Peters Conduit PR 76 Cannon St London EC4N 6AE Dir: + 44 (0) 20 7429 6600 Office: + 44 (0) 20 7429 6666 Mob: ++ 44 (0) 781 215 9885 Fax: + 44 (0) 20 7429 6699
www.conduitpr.com
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