Inter-Citic Reports Drill Results From New Exploration Areas. All 41 New Holes Report Gold Mineralization Acadia Zone Yields Drill Hole With 14.0 Metres Averaging 2.15 GPT Gold
Acadia Zone Yields Drill Hole With 14.0 Metres Averaging 2.15 GPT Gold
TORONTO, ONTARIO -- (Marketwire) -- 01/18/11 -- Inter-Citic Minerals Inc. (TSX: ICI) ('Inter-Citic' or 'the Company') President and CEO James Moore, is pleased to report on drill hole results from new areas of exploration from the 2010 exploration drill program at its Dachang Gold Project in China. All exploration drill holes reported by the company in this release intersected gold mineralization, many intersecting multiple intervals.
'We have now intersected multiple sub-parallel gold bearing fault zones in Acadia which are increasingly defining a prominent mineralized fault structure very similar in nature to the Dachang Main Zone resource area,' said Garth Pierce, VP Exploration of Inter-Citic Minerals. 'All these intercepts are outside areas of existing resource inventory, and we are now looking to the Acadia Zone as a potential new source of near surface gold resource at Dachang.'
Detailed new drilling results by exploration area are set out in the chart below.
DDH From To Length Assay
Hole No. Section Dip Bearing (m) (m) (m) Au g/t
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ACADIA ZONE
CJV-1067 -75 22 16.40 17.40 1.00 1.36
CJV-1068 -45 22 6.50 12.50 6.00 1.31
CJV-1071 -75 22 11.00 14.00 3.00 0.72
CJV-1072 -65 22 28.30 29.80 1.50 0.64
CJV-1074 -45 22 41.00 42.00 1.00 2.33
60.50 63.50 3.00 0.78
66.50 68.00 1.50 0.94
CJV-1075 -45 22 28.20 29.20 1.00 0.52
CJV-1076 -45 22 42.30 43.30 1.00 0.64
72.50 73.30 0.80 0.81
CJV-1077 -45 22 13.50 15.00 1.50 1.47
32.50 33.50 1.00 2.35
CJV-1081 -70 22 36.00 40.00 4.00 2.23
43.00 45.00 2.00 0.76
50.00 52.00 2.00 0.77
58.00 60.00 2.00 1.54
63.00 65.00 2.00 0.67
CJV-1082 -45 202 26.30 27.30 1.00 0.51
CJV-1084 -45 22 15.00 16.00 1.00 1.59
29.00 30.00 1.00 0.57
41.00 42.00 1.00 0.90
CJV-1086 -75 202 33.20 34.70 1.50 1.07
60.00 62.00 2.00 8.09
CJV-1089 -45 202 13.00 14.50 1.50 0.81
32.00 33.00 1.00 3.45
CJV-1105 -77 202 46.10 46.80 0.70 0.64
CJV-1107 -50 22 38.00 39.00 1.00 2.53
42.00 43.00 1.00 0.50
50.00 52.00 2.00 1.10
CJV-1110 -45 202 73.40 79.20 5.80 1.29
CJV-1112 -45 20 24.20 25.20 1.00 0.67
45.30 46.50 1.20 0.81
51.00 53.00 2.00 3.75
59.00 64.00 5.00 0.53
74.00 76.00 2.00 2.24
CJV-1114 -45 22 73.00 73.70 0.70 0.87
CJV-1115 -45 22 38.00 39.00 1.00 1.53
52.30 53.70 1.40 0.51
62.00 65.00 3.00 1.47
CJV-1122 -55 202 62.00 63.00 1.00 0.84
69.00 71.00 2.00 1.40
76.00 80.00 4.00 2.35
86.00 88.00 2.00 4.20
CJV-1135 -55 22 49.00 50.00 1.00 0.57
CJV-1137 -65 22 40.00 41.00 1.00 1.58
CJV-1140 -45 22 10.00 11.00 1.00 2.09
19.00 20.00 1.00 0.51
28.00 29.00 1.00 0.93
32.00 49.00 17.00 0.84
53.00 54.00 1.00 1.13
69.00 69.80 0.80 2.62
72.00 73.00 1.00 3.46
CJV-1142 -45 22 33.00 47.00 14.00 2.15
61.00 62.00 1.00 2.67
72.00 75.00 3.00 5.82
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DMZ-X ZONE
DDH From To Length Assay
Hole No. Section Dip Bearing (m) (m) (m) Au g/t
CJV-1066 4000E -50 22 90.70 91.70 1.00 0.51
111.30 113.30 2.00 2.58
136.70 137.80 1.10 1.09
CJV-1073 3730E -75 22 61.00 63.80 2.80 0.84
CJV-1078 3730E -45 22 32.60 34.00 1.40 0.60
43.50 47.80 4.30 0.71
63.80 64.80 1.00 1.79
CJV-1108 450E -45 22 35.10 36.10 1.00 5.80
39.10 39.80 0.70 0.52
55.40 56.50 1.10 2.05
CJV-1119 4450E -85 22 50.00 50.80 0.80 1.28
56.80 57.80 1.00 1.80
64.40 65.10 0.70 0.51
71.10 74.10 3.00 1.78
CJV-1130 5200E -45 22 43.15 44.65 1.50 0.58
CJV-1139 3900E -45 22 109.45 110.45 1.00 4.60
120.15 121.15 1.00 1.26
138.45 139.45 1.00 1.18
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FAR EAST ZONE
DDH From To Length Assay
Hole No. Section Dip Bearing (m) (m) (m) Au g/t
CJV-1083 10000E -80 22 192.50 194.00 1.50 0.93
CJV-1113 10000E -85 20 102.67 103.67 1.00 1.54
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XP ZONE
DDH From To Length Assay
Hole No. Section Dip Bearing (m) (m) (m) Au g/t
CJV-1070A -45 202 54.70 55.70 1.00 5.38
CJV-1079 -60 202 54.40 58.70 4.30 2.42
92.40 94.50 2.10 3.20
100.50 103.20 2.70 2.15
CJV-1080 -45 22 14.40 15.90 1.50 0.91
CJV-1085 -45 22 31.65 33.85 2.20 2.01
39.35 40.15 0.80 0.80
CJV-1088 -50 22 15.90 19.20 3.30 3.88
CJV-1104 -45 22 24.55 25.65 1.10 0.70
CJV-1109 -45 22 25.65 26.65 1.00 1.19
CJV-1111 -45 22 25.90 27.70 1.80 4.14
30.70 33.00 2.30 3.97
Assay cut-off for the above table was at 0.5 gpt Au, however, intervals were
determined by geological interpretation of consistent mineralized zones.
Broader intervals may include waste intervals of up to 2m. There was no
evidence of nugget effect in the above results and none were topcut. True
widths for the intervals above have yet to be determined.
Acadia Zone:
The 'Acadia Zone' is located approximately 9 kilometres northwest of the Dachang Main Zone along the dominant Carbonate Thrust Fault that transects the property. Drilling and trenching have now defined the Acadia Zone along a 1.6 kilometre strike length.
DMZ-X:
The DMZ Extension ('DMZ-X') is new exploration that continues off the eastern end of the current DMZ resource area. It consists of two separate south dipping fault structures - the 'Upper Zone' and the 'DMZ Projection' to the south. Both complex fault systems are mineralized and open to the east.
Far East Zone:
The Far East Zone is new exploration area several kilometres along strike to the southeast of the DMZ. It is an area where thicker overburden interferes with tracing mineralized fault structures through normal soil geochemistry.
XP Zone:
The XP Zone is in the centre of the Dachang property, and continues off the eastern extent of the 861 Zone. It has demonstrated strong zones of surface gold mineralization, and is believed by the Company to be the continuation of the mineralized fault structure that trends towards the southeast across the property from the 861 Zone.
A visual representation of the location of the drill holes in this release can be seen at: http://www.corebox.net/properties/dachang/. A location map is available on the Company's website at: http://www.inter-citic.com/maps.php.
Sample Methodology:
Drill core samples were taken at geologically significant intervals, typically over one metre. Core recovery was approximately 90%. The designated sample intervals were cut with a diamond saw by qualified technicians. One half of the cut core was selected for assay with the remaining half being placed back into the core box. Care was taken to ensure that neither half of the core represents a bias with respect to the nature and mineral content of the sample. The sample interval and methodology are consistent with industry standards. Drill core samples were shipped to SGS Geochemical Laboratories ('SGS') located in Kunming and Tianjin, China for sample preparation and 50g fire assay with AA finish. SGS is the world's leading inspection, verification, testing and certification company. Analytical work is performed in accordance with recognized standards such as ASTM, ISO, JIS, and other accepted industry standards. Accuracy of the results is tested through the systematic inclusion of reference samples and duplicate samples.
Security of Samples: All of the samples collected at Dachang are stored in a restricted secure storage area. Samples are shipped by truck to Golmud and delivered to Inter-Citic's courier agent in Golmud for shipment to the various laboratories for analysis. Inter-Citic's courier agents are present at all transshipment points between Golmud and the laboratories. Exploration at Dachang was conducted with the assistance of the numerous professionals from the Qinghai Geological Survey Institute, working in co-operation with Inter-Citic's technical team on site and supervised by Mr. Garth Pierce, Vice-President of Exploration.
Mr. Gerald Bidwell, P.Geo., the Company's internal Qualified Person under the requirements of National Instrument 43-101, has reviewed and approved the results reported in this press release.
Mr. B. Terrence Hennessey, P.Geo., of Micon International Limited is a Qualified Person under the requirements of National Instrument 43-101 and has 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 2009 Financial Statements 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.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contacts:
Inter-Citic Minerals Inc.
Stephen Lautens
Vice President, Corporate Communications
(905) 479-5072 x 227
stephen@inter-citic.com
www.inter-citic.com