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From: Nigel
ArtDate: 29th November 2006
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 87.74.94.219
Date: 10/12/06
Time: 09:33
29th November 2006
Tianshan Goldfields Limited 2006 Drilling Report
News Item - Conduit PR
2006 DRILLING COMPLETED
The 2006 drill field season is now complete with all assays received and reported Total drilling of 36,717 metres for 225 holes have been completed in 2006 Drilling results show Jinxi and Balake joining as one deposit supporting an increase in tonnage in this area A resource estimate is underway with results planned for release in December 2006 Gold Mountain tenement exploration license renewed for another two years to September 2008 Significant drill intersections include: Balake Prospect Jinxi and Jinxi West Prospect
14 metres at 1.02g/t Au (including 11 metres at 1.12g/t Au) 53 metres at 0./79g/t Au (including 26 metres at 0.86g/t au)
63 metres at 0.78g/t Au (including 33 metres at 0.96g/t Au) 40 metres at 0.86g/t Au (including 15 metres at 1.31g/t au)
17 metres at 0.87g/t Au (including 4 metres at 1.25g/t Au and 5 metres at 1.42g/tAu) 17 metres at 1.68g/t Au
27 metres at 1.48 g/t Au (including 17 metres at 2.15g/t au)
14.3 metres at 2.35g/t Au (including 12.3 metres at 2.35g/t au)
Mayituobi Prospect Pond Prospect
20 metres at 0.64g/t Au (including 8 metres at 0.90g/t Au) 23 metres at 1.71g/t Au
19 metres at 0.65g/t Au (including 4 metres at 1.30g/t Au) 47 metres at 0.98g/t Au (including 15 metres at 2.04g/t au)
OVERVIEW Tianshan Goldfields Limited (ASX/AIM: TGF) (“Tianshan” or “the Company”) is pleased to release further infill and extension results at Balake, Jinxi, Pond and Mayituobi.
Extensions to the Balake deposit to the east at shallow depth and with higher grade have been confirmed. These assay results increase the extent of mineralisation to the east of Balake, and further support the presence of a contiguous mineralised zone east from Balake through to Jinxi and to Pond (referred to Zone 1, Figure 2). Drilling has been completed at Pond and hydrothermally altered intersections have been observed on central southern areas of Zone 1, to be followed up in 2007.
To date in 2006 a total of 225 drillholes have been completed for a total of 36,716 metres drilled. Core drilling has totalled 30,910 metres in 172 drillholes and reverse circulation (“RC”) drilling 5,807 metres in 53 drillholes. This includes 4 diamond drill holes for 1,021 metres drilled at three regional targets. A total of 34,200 samples have been submitted to the laboratory all of which have been analysed.
DRILLING RESULTS
Balake
Drilling of 36 diamond holes is complete for 6,374.3 metres with assay results received for all holes. Drilling has now confirmed Balake as a new discovery, after initial drilling in late 2005, and it resembles the nearby Yelmand deposit in terms of grade and thickness. Results not previously reported are quoted in Table 1. Drilling orientations were aimed to intersect the blanket style mineralisation in Zones 1 and 2 at nominal 100 metres centres. Further drilling completed recently to the west of BAL032 and 033 located a zone of mineralisation at greater depths, presumably in a down-faulted block, suggesting Zone 1 extends to the west of Balake. In general the drilling results have confirmed that mineralised hydrothermally altered breccias extend to the east under the ridge which separates Balake from Jinxi:
DD06BAL036 – 14 metres at 1.02g/t Au from 82 metres (including 11 metres at 1.12g/t Au from 125 metres) DD06BAL037 - 63 metres at 0.78g/t Au from 46 metres (including 33 metres at 0.96g/t Au from 67 metres) DD06BAL039 - 17 metres at 0.65g/t Au from 108 metres DD06BAL040 - 17 metres at 0.87g/t Au from 124 metres (including 4 metres at 1.25g/t Au from 124 metres, and 5 metres at 1.42g/t Au from 134 metres) DD06BAL041 - 6 metres at 0.99g/t Au from 215 metres (including 1 metre at 5.03g/t Au from 218 metres) Jinxi and Jinxi West
A total of 29 diamond drill holes for 6,150.1 metres and 11 RC holes for 2,031 metres have been completed. A series of recently completed holes on the south western flanks of the Jinxi deposit have located blanket style mineralisation that appears to link with Balake. Assays have been received for all drill holes, and most intersected brecciated and hyrothermally overprinted sandstones and conglomerates with moderate grade gold intersections over significant widths (Table 1). Mineralisation has been closed off to the north east but remains open to the south-central area of Zone 1, which is to be followed up in 2007. Recent assays report:
DD06JX086 – 18 metres at 0.86g/t Au from 94 metres (including 13 metres at 1.06g/t Au from 107 metres) DD06JX087 – 53 metres at 0.79g/t Au from 118 metres (including 18 metres at 0.85g/t Au from 118 metres and 26 metres at 0.86g/t from 138 metres) DD06JX088 – 18 metres at 0.54g/t Au from 157 metres (including 7 metres at 0.89g/t Au from 163 metres) DD06JX089 – 40 metres at 0.86g/t Au from 102 metres (including 15 metres at 1.31g/t Au from 103 metres) DD06JX090 – 17 metres at 1.68g/t Au from 126 metres DD06JX091 – 20 metres at 0.76g/t Au from 138 metres (including 7 metres at 0.92g/t Au from 138 metres) DD06JX092 – 27 metres at 1.48g/t Au from 137 metres (including 17 metres at 2.15g/t Au from 147 metres) DD06JX096 – 14.27 metres at 2.35g/t Au from 184 metres (including 12.3 metres at 2.69g/t Au from 215 metres) RC06JX001 – 18 metres at 0.85g/t Au from 43 metres, and 30 metres at 0.77g/t Au from 70 metres RC06JX006 – 8 metres at 0.78g/t Au from 204 metres Pond
A total of six diamond drillholes for 1,706.7 metres have been completed this year. Significant drill intersections at Pond not yet reported include (refer Figure 4):
DD06JX094 – 23 metres at 1.71g/t Au from 215 metres and 47 metres at 0.98g/t Au from 246 metres (including 15 metres at 2.04g/t Au from 278 metres) Mayituobi
A total of 20 diamond holes for 1,536 metres drilled have been completed. These have infilled and extended the known mineralised envelope to the northeast of the deposit and closed off mineralisation to the north. All Assays have been received:
DD06MY031 – 20 metres at 0.64g/t Au from 7 metres (including 8 metres at 0.9g/t Au from 10 metres) DD06MY032 – 19 metres at 0.65g/t Au from 16 metres (including 4 metres at 1.3g/t Au from 16 metres) DD06MY033 – 14 metres at 0.65g/t Au from 31 metres DD06MY036 – 8 metres at 0.66g/t Au from 21 metres (including 2 metres at 1.24g/t Au from 26 metres) Yelmand
Fifteen diamond drill holes, for 2,973.6 metres drilled, have been completed in the southern and northern areas of the Yelmand resource. Drilling of two holes (YEL015 & 016) north of the resource area suggests the Yelmand deposit is closed off to the north. Thick mineralised sequences intersected in YEL104 and YEL107 have been closed off to the west.
Resource Estimate Revision
The results from the 2006 field programme are presently being incorporated in to the current resource model. It is anticipated that a new resource estimation will be complete in December 2006.
Regional Exploration on the Xinjiang Gold Mountain Exploration Licences
Mapping and sampling has been carried out under contract by the Hebei Geology University who carried out similar work in 2004. Tenure locations are shown on Figure 7.
Regional exploration has been completed over the Naogaitu tenement in 2006.
The Urumu-Tulasu tenement contains a known lead/zinc occurrence in a quartz vein host. Surface vein samples returned values up to 3.73% lead, 4.64% zinc and 184ppm silver. A ground magnetic survey of 80 line km (ie 4km2) was completed over the prospect and indicates a magnetic high associated with the mineralisation. Further interpretation is ongoing. Drilling of single core holes at prospects Dakar (277 metres) and Millenium (144.8 metres) was completed. Assays report no significant gold intersections, base metal assays are awaited. A second lead/zinc occurrence was located south of the known Urumu-Tulasu occurrence during routine sampling and mapping.
Two diamond holes for 598.9 metres were completed on the Jin Gu Prospect located on the Nalansayi tenement. Extensive quartz vein stockworks in Carboniferous volcaniclastics, with rockchips reporting anomalous gold, were mapped over a width of 150 metres. A ground magnetic survey was also undertaken. Drillhole DD06JIN001 intersected 15 metres at 0.36g/t Au from 15 metres depth including 2 metres at 1.68g/t Au. Further drilling is planned in 2007 .
The Company’s exploration and drilling in 2006 have delivered a significant upgrade in the extent of the gold mineralisation at Gold Mountain and identified new prospects to explore on regional tenements in 2007. Further work will involve infill resource drilling and some preliminary studies to scope a potential heap leach mining operation.
For further information please contact Keith Liddell on +61 8 9221 7466 or Dave Evans on +27 83 301 6016.
Jos Simson Conduit PR Ltd 76 Cannon St EC4N 6AE Direct: +44 (0) 20 7429 6603 Office: +44 (0) 20 7429 6666 Fax: +44 (0) 20 7429 6699 Mob: +44 (0) 789 987 0450
www.conduitpr.com
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