Inter-Citic Reports Updated NI 43-101 Compliant Mineral Resource Estimate For Its Dachang Gold Project
19 Juni 2012 - 2:30PM
Marketwired Canada
Editors Note: There is a photo associated with this press release.
Inter-Citic Minerals Inc. (TSX:ICI) ("Inter-Citic" or "the Company") President
and CEO James Moore, is pleased to announce an update to the Company's NI 43-101
compliant mineral resource estimate for its Dachang Gold Project in China.
With this newest mineral resource estimate the Company's measured and indicated
mineral resources at Dachang increased by an additional 320,000 ounces of gold,
and the Company's inferred mineral resources increased by an additional 250,000
ounces.
The current NI 43-101 compliant mineral resource estimate at Dachang now stands at:
-- Estimated Measured and Indicated mineral resources of 2.20 million
ounces contained gold (22.52 million tonnes grading 3.04 g/t Au); plus,
-- Estimated Inferred mineral resources of an additional 2.18 million
ounces contained gold (25.91 million tonnes grading 2.62 g/t Au).
Of the estimated Measured and Indicated mineral resources, 320,000 ounces (5.32
million tonnes grading 1.80 g/t Au) are outside the Dachang Main Zone ("DMZ") on
the 861/XP fault structure.
This inventory of mineral resources for the Dachang Gold Project has been
updated by the Company with the results from the 2011 exploration program with a
total of 25,003 meters of drilling in 317 diamond drill holes and approximately
21,000 metres of surface trenching. Since 2004 Inter-Citic has drilled 1,362
diamond drill holes totaling 174,000 m and has excavated and sampled 1,108
trenches totaling more than 109,000 linear metres.
A breakdown of the Company's current total Mineral Resource Estimate is set out
in the table below:
Dachang Estimated Mineral Resources at June 1, 2012
------------------------------------------------
Contained
Gold
Resource Tonnes Grade (million
Location Category (Mt) (g/t Au) oz)
----------------------------------------------------------------------------
DMZ and Placer Valley Measured 5.00 3.55 0.57
Indicated 12.20 3.34 1.31
Exploration Areas Indicated 5.32 1.80 0.32
----------------------------------------------------------------------------
Total Measured and Indicated 22.52 3.04 2.20
----------------------------------------------------------------------------
DMZ and Placer Valley Inferred 9.7 2.97 0.93
NR-2 Anomaly Inferred 1.30 5.81 0.24
Exploration Areas Inferred 14.91 2.11 1.01
----------------------------------------------------------------------------
Total Inferred 25.91 2.62 2.18
----------------------------------------------------------------------------
(Cut-off grade for the above table is 0.5 g/t Au. Totals may not add due to
rounding.)
Dachang Estimated Mineral Resources at June 1, 2012
By Area
------------------------------------------------------
Measured + Indicated Inferred
------------------------------------------------------
Mass Grade Au Mass Grade Au
(Mt) (g/t) (MM oz) (Mt) (g/t) (MM oz)
----------------------
Location
----------------------------------------------------------------------------
DMZ & PVZ 17.20 3.41 1.88 9.70 2.97 0.93
Acadia 2.47 1.49 0.12 2.50 1.36 0.11
861/XP 2.13 2.17 0.15 1.13 1.77 0.06
NR-1 1.44 2.10 0.10
NR-2 1.30 5.81 0.24
DMZ-X 2.54 2.02 0.17
DMZ-N 0.30 2.81 0.03
Ruby Zone 0.31 2.85 0.03
PVZ-E 1.44 3.06 0.14
South Ruby 0.23 2.27 0.02
Deep Holes 1.81 3.41 0.20
South East-N 0.73 2.29 0.05 1.79 1.76 0.10
South East-S 1.44 1.35 0.06
----------------------------------------------------------------------------
Combined Total 22.52 3.04 2.20 25.93 2.62 2.18
----------------------------------------------------------------------------
These estimates of mineral resources are not affected by any known
environmental, permitting, legal, title, taxation, socio-political, marketing or
other relevant issues.
MINERAL RESOURCES ESTIMATE TECHNICAL DETAILS:
Modelling for exploration areas 861/XP, Acadia, South East North ("SEN"), and
South East South ("SES") was performed using Gemcom Surpac(R) 6.3 modeling
software. Gold grades were estimated by inverse distance squared (ID2)
interpolation from 1.0 meter down hole assay composites. Block size was 2 meters
(x) by 2 meters (y) by 2 meters (z) with no sub-blocking implemented for the
861/XP and Acadia zones and two units of standard sub-blocking implemented for
the SEN and SES zones.
Inter-Citic staff developed sectional interpretations of gold zones
corresponding to a cut-off grade of 0.50g/t over 2.0 meters that were
subsequently digitized and wire-framed into three-dimensional solid models.
Solid model limits were projected half the distance to a constraining drill hole
or 50 meters from the last intercept and were constrained at surface by
topographic digital terrain models.
Grade interpolation was peripherally constrained within the wire-framed gold
shells using multiple search ellipse passes. Experimental variogram results from
the 861/XP zone, striking 280 degrees and dipping 60 degrees to the south,
demonstrated a primary axis range of 95 meters along strike, a secondary axis
range of 60 meters down dip, and a minor axis range of 5 meters. These results
were applied to the Acadia, SEN and SES zones as experimental variogram results
could not be resolved for those zones. Interpolation ellipsoid ranges and
orientation were locally varied to accommodate domain geometries and sample
distribution.
A minimum of 3 and maximum of 12 contributing composites, with no more than 4
from a single drill hole, were used for interpolation. Contributing gold values
were capped at 14 g/t based on cumulative frequency and probability plot
results. Indicated Mineral Resources are defined as having 5 or more
contributing composites, a maximum distance of 50 meters from the block center,
an average distance of 67.5 meters of all contributing composites, and occur in
mineralized areas with sufficient demonstrated geological continuity. All other
resources interpolated in the 861/XP, Acadia, SEN, and SES are defined as
Inferred Mineral Resources.
No new drilling was done in 2011 on the Dachang Main Zone ("DMZ") or Placer
Valley Zone ("PVZ"), and the resource estimate for those areas remains unchanged
as described in the Company's press release of June 30, 2011 and the filed
Technical Report dated June 28, 2011 prepared under NI 43-101 by Micon
International Co Limited. The resource estimate for the NR-2 Anomaly was not
further tested in 2011, and remains unchanged as described in the Company's
press release of December 12, 2005.
Maps and associated materials are available on the Company's website:
www.inter-citic.com.
The updated mineral resource estimate for new and other exploration areas was
prepared for the Company by Mr. Michael W. Leahey, P.Geo., the Company's
internal Qualified Person under the requirements of National Instrument 43-101.
The estimate complies with the CIM mineral resource definitions referenced in
National Instrument 43-101. Mr. B. Terrence Hennessey, P.Geo., a Qualified
Person under the requirements of National Instrument 43-101, has also reviewed a
copy of this press release.
On Behalf of the Board:
James J. Moore, President & CEO
ABOUT INTER-CITIC:
Toronto-based Inter-Citic Minerals Inc. is an exploration and development
company advancing its Dachang Gold Project in the People's Republic of China.
Inter-Citic is listed on the TSX under the symbol ICI. Inter-Citic's website is
www.inter-citic.com.
Investors are encouraged to review "Risk Factors" associated with the Dachang
project as outlined in the Company's 2011 Financial Statements, MD&A and Annual
Information Form, along with updates, available on the SEDAR website at
www.sedar.com. The statements herein that are not historical facts are
forward-looking statements. These statements address future events and
conditions and so involve inherent risks and uncertainties, as disclosed under
the heading "Risk Factors" in the company's periodic filings with Canadian
securities regulators. Actual results could differ from those currently
projected. The Company does not assume the obligation to update any
forward-looking statement.
To view the photo associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/ici0619full.jpg.
Sentinel Rock Oil Corporation (TSXV:SEN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Sentinel Rock Oil Corporation (TSXV:SEN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
