| ||October 02, 2012|
China Minerals Reports Further Extension of Taurus Gold Deposit
| ||China Minerals Mining Corporation ("China Minerals" or the "Company") (TSX-V: CMV, US: HWTHF) is pleased to announce results from 25 diamond drill holes (identified as TA12-16 through TA12-40) from the Taurus Property of the Cassiar Gold Project, British Columbia. The 2012 drilling program tested areas peripheral to, as well as internal gaps in, the Taurus Gold Deposit ("Taurus"). Key points of these results include:|
- Holes TA12-16 and TA-19 intersected, respectively, 8.80 m at 5.05 g/t Au and 19.00 m at 2.13 g/t Au outside previous eastern boundary of Taurus deposit
- A high grade vein grading 8.77 g/t Au over 1.80 m in hole TA12-24 demonstrates that gold mineralization at the Sable Zone extends to the south-east
- Wide gold intersections of 23.00 m grading 3.83 g/t Au and 10.45 m grading 4.42 g/t Au in holes TA12-38 and TA12-40, respectively, show new opportunity in the 88 Hill / Highway Gap
The now completed drilling program comprised 6,857 m of drilling in 43 drill holes at Taurus (initial 15 drill holes reported in a previous news release dated September 18, 2012) and 10 drill holes totaling 1,340 m at the Sky Vein prospect on the adjacent Table Mountain Property. Results for the final three drill holes from Taurus and the 10 Sky Vein drill holes will be reported when analytical data are fully received and interpreted.
The Taurus and Table Mountain Properties, which collectively comprise Cassiar Gold Project ("Cassiar Gold"), are 100% owned by China Minerals. Cassiar Gold is a large, 600 square kilometre property located in northwest B.C. Access to the area is excellent since paved Highway 37 bisects the Project between Taurus and Table Mountain. The Table Mountain Property contains a fully permitted gold mill and tailings management facility which are available for potential future ore processing.
The 25 drill holes reported herein targeted two areas: the eastern margin of the Taurus Deposit at the Sable Zone and the 88 Hill / Highway Gap target. All holes extended regions of known alteration and mineralization either down-dip within internal gaps in the deposit, or outside previous boundaries of the Taurus Deposit.
The Company's Chief Executive Officer, Ling Zhu, is pleased with the 2012 progress at Taurus. "With this program, we tested several open areas within the Taurus Deposit and demonstrated that the footprint of alteration and mineralization extends beyond the currently defined deposit."
Drilling at the Sable Zone (Table 1) focused on defining the eastern, open edges of the deposit. Most of the previous drilling at Sable was shallow so a secondary objective of the 2012 drilling was to test down-dip of higher-grade near-surface mineralization. The Sable Zone is dominated by a series of west-northwest trending gold-bearing shear veins which -- based on logging of 2012 and historic drill core -- show very good along strike continuity. Significantly, 2012 drill hole intercepts such as 5.05 g/t Au over 8.80 m (TA12-16) and 2.34 g/t over 11.00 m (TA12-29) are from shear veins that occur up to 60 m outside Taurus Deposit resource model.
The 2012 drilling also closed off the more northerly Sable shear veins but adjacent structures appear to step left laterally in an en echelon fashion. As such, mineralized intersections in drill holes to the south and east (such as TA12-24 and TA12-28) demonstrate that the Sable Zone remains open to the south and southeast.
Table 1. Drill Core Sample Results -- Sable Zone
*Reported drill intercept widths are approximately 65 to 80% of true width
||Hole failed to reach bedrock
88 Hill / Highway Gap
Drilling at the 88 Hill / Highway Gap met with mixed success. Drill holes in the western part of the gap intersected narrow but higher-grade intercepts (e.g. 4.42 g/t Au over 10.45 m in TA12-40). Drill holes to the east, however, typically intersected narrow altered zones with minor gold mineralization (e.g. 0.88 g/t Au over 10.85 m in TA12-37). Nonetheless, the 88 Hill / Highway Gap drilling has shown that the Taurus alteration and mineralization system has affected basalt in this gap area and since very few drill holes have targeted this region, it has potential to contain mineralized zones.
Table 2. Drill Core Sample Results -- 88 Hill / Highway Gap
*Reported drill intercept widths are approximately 65 to 80% of true width
||No significant results
The 2012 Cassiar Gold field program was managed by Equity Exploration Consultants Ltd. of Vancouver, B.C. and advised by consulting geologists David Rhys, P. Geo. and B.H. Kahlert, P. Eng. Drilling was contracted to Apex Diamond Drilling Ltd. of Smithers, B.C. who averaged 105 m coring per day.
About the Taurus gold deposit
The Taurus Gold Deposit is located within the northern part of the Cassiar Gold Project. Taurus hosts an inferred resource of 1.06 million ounces of gold comprising of 33.1 million tonnes at an average capped grade of 0.99 g/t Au using a cut-off grade of 0.50 g/t Au. The resource is supported by a technical report titled, "Updated Resource Report on the Taurus Project -- Liard Mining District, B.C.," dated March 11, 2009 and prepared by Thomas C. Stubens and Marinus Andre de Ruijter of Wardrop Engineering Inc., which was filed at www.sedar.com on March 18, 2009 and announced via news release dated March 19, 2009. No economic assessment has been completed on the Taurus resource and consequently it has not demonstrated economic viability.
The Company's technical disclosure in this news release has been verified and approved by Dr. Darcy Baker, Ph.D., P.Geo., an independent Qualified Person as defined by National Instrument 43-101 and President of Equity Exploration Consultants Ltd. Dr. Baker is a consultant to the Company and supervised the 2012 Cassiar Gold project exploration program.
Quality control procedures for the 2012 drilling program comprise systematic insertion of blank and certified standard samples and quarter-core duplicate samples into the drill core sample sequence. Samples were placed in sealed bags and shipped directly to the ALS Minerals preparation facility in Terrace, B.C. prior to gold analysis by fire assay with atomic absorption finish and multi-element analysis by ICP methods at the ALS Minerals laboratory in Vancouver, B.C. For samples returning greater than 5.00 g/t Au, follow-up fire assay analysis with gravimetric finish is completed while samples returning greater than 10.00 g/t Au undergo check analysis by screen metallic fire assay. Three samples returning greater than 10.00 g/t Au reported here have outstanding screen metallic assays. In the unlikely case that these data vary significantly from the gravimetric analyses, changes will be reported in a subsequent news release.
About China Minerals Mining Corporation
China Minerals Mining Corporation is a Canadian based exploration and development company with offices located in Vancouver, B.C. and Beijing, China. China Minerals' ambition is to build an international mining company.
For more information on China Minerals, call the Company toll free at 1-888-629-1505 or (604) 629-1505, or visit the Company's website at www.chinamineralsmining.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"signed by Ling Zhu"
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
You can view the Next News Releases item: Wed Oct 24, 2012, China Minerals Intersects Gold Zone At Sky Vein Prospect
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