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From: Nigel
ArtDate: 11th October 2006
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 84.9.59.210
Date: 25/10/06
Time: 21:37
11th October 2006
Leyshon Resources Drilling Update
News Item - Conduit PR
Leyshon extends the gold zinc mineralisation at its Zheng Guang project, China
Leyshon Resources Limited (“Leyshon”) (ASX & AIM: LRL) today announces that it has intersected broad zones of gold zinc mineralisation during its drill programme to extend the 1.2 million ounce Zheng Guang project in Heilongjiang, northeast China.
The latest results from seven holes drilled on sections 49350 and 49450 located approximately 50-100 metres to the northwest of the Main Ore Zone include the following significant intersections:
ZGD 118 19 metres at 1.84 g/t gold, 9 g/t silver and 1.28% zinc ZGD 119 17 metres at 3.06 g/t gold 9 g/t silver and 1.21% zinc ZGD 120 3 metres at 4.26 g/t gold 30 g/t silver and 1.76% zinc ZGD 122 12 metres at 4.28 g/t gold 12 g/t silver and 2.77% zinc ZGD 123 5 metres at 2.41 g/t gold 12 g/t silver and 1.17% zinc; and 3 metres at 6.17 g/t gold 7 g/t silver and 1.15% zinc ZGD 125 10 metres at 2.13 g/t gold 8 g/t silver and 0.49% zinc; and 6 metres at 2.26 g/t gold 4 g/t silver and 0.28% zinc; and 5 metres at 7.58 g/t gold 40 g/t silver and 2.18% zinc (including 1.85% lead)
Holes ZGD120, 123 and 125 were drilled on section 49350 located approximately 50 metres to the northwest of the centre of the Main Ore Zone and have intersected a zone of mineralisation, 20 to 24 metres wide extending from surface and still open at approximately 250 metres depth.
Of interest is the lead value in the 5 metre interval reported in ZGD125. Zinc has been the dominant base metal recorded to date, however lead values have been recorded elsewhere in the sulphide zone and have shown up in the metallurgical studies.
Holes ZGD116, 118, 119 and 122 were drilled on section 49450 located approximately 100 metres to the north west of the Main Ore Zone and have intersected a broad zone of mineralisation, 26 to 59 metres wide extending from surface and still open at approximately 240 metres depth.
Of note is the 53 metres of mineralisation in a 75 metre zone reported in hole ZGD122 which indicates a thickening of the mineralisation as it extends down dip.
The drill programme is expected to be concluded late October 2006 and to date assay results from 19 of the 50 holes drilled have been released. Further results from the remaining holes will be released shortly.
Managing Director Paul Atherley commenting today said “This fifth set of results from the 2006 drilling programme shows that the broad zones of mineralisation which make up the Main Ore Zone are extending both to the northwest and down dip and we expect this to have a very positive impact on the new resource estimate.”
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
http://www.leyshonresources.com
Background Information
Leyshon is rapidly advancing the Zheng Guang gold zinc project to production status and is aiming to jointly develop it as the first ever Sino Foreign owned mine in the mineral rich province of Heilongjiang.
Leyshon’s partner, the Qiqiha’er Brigade of the Heilongjiang Bureau of Geology and Mineral Resources, one of the largest organizations of its kind in China, is providing a range of services to the joint venture from its compliment of 4,000 technical staff, drill rigs, laboratory and other technical facilities. This valuable support is enabling the project to rapidly move ahead on an extremely cost effective basis.
This year’s drill programme is the largest to be undertaken in Heilongjiang in recent years and comprises over 10,000 metres of diamond drilling and 20,000 metres of reverse circulation drilling and is following up the highly successful 21,000 metres of drilling undertaken in 2004 and 2005.
This year’s programme is expected to increase the initial JORC compliant inferred resource estimate reported in May of this year of 930,000 ounces gold, 64,000 tonnes zinc and 2.6 million ounces silver (equivalent to 1.2 million ounces of gold based on 1 g/t gold = 1% zinc). The estimate has been calculated by resource specialists Hellman and Schofield of Australia and is based on the results from the 2004 and 2005 programmes.
Leyshon will earn its 70% interest in the project shortly and has recently entered into a 20 year agreement with Qiqiha’er Brigade for the financing, development and mining of the project.
Leyshon has its main operating office in Beijing and is one of the very few foreign mining companies with its Chairman, Managing Director and Chief Operating Officer all based in China.
Jos Simson Conduit PR Ltd 76 Cannon St EC4N 6AE Office: +44 (0) 20 7429 6666 Direct: +44 (0) 20 7429 6603 Fax: +44 (0) 20 7429 6699 Mob: +44 (0) 789 987 0450
www.conduitpr.com
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