China Minerals Extends Gold Zones at the Taurus Gold Deposit
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- China Minerals Mining Corporation ("China Minerals" or the "Company") (TSX VENTURE: CMV)(PINKSHEETS: HWTHF) is pleased to announce results from the first 15 diamond drill holes 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"). The drilling program, which was completed in the first week of September, comprised 6,857 metres of drilling in 43 drill holes at Taurus and 10 drill holes totaling 1,340 metres at the Sky Vein prospect on the adjacent Table Mountain Property. Sulphide bearing quartz veins 10-20 metres wide were encountered in several holes at Sky Vein.
The Taurus and Table Mountain properties, which collectively comprise Cassiar Gold Project, are 100% owned by China Minerals. The Cassiar Gold Project is a large, 600 square kilometer property located in northwest B.C. Access to the Project 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 first 15 drill holes (numbered TA12-01 through TA12-15) of the drilling program targeted areas proximal to higher-grade historical drilling intercepts within the central Taurus deposit area known as 88 Hill (Table 1) as well as an area of sparse prior drilling known as the 88 Hill / Sable Gap (Table 2) which previously formed a gap in the resource of the Taurus Gold Deposit. The 88 Hill / Sable Gap holes intersected several mineralized structures within this 200 by 100 m target region indicating that mineralization is continuous across the gap. The 88 Hill holes tested deeper parts of the deposit down-dip of shallow, high-grade intercepts and met with mixed success.
The Company's Chief Executive Officer, Ling Zhu, is pleased with the first round of Taurus results: "Extending the mineralized structures across the 88 Hill / Sable internal gap is very encouraging. This demonstrates continuity of the Taurus structures and given that the deposit is open in many directions, these results show the potential to expand the deposit through step-out drilling."
Highlighted analyses for the 88 Hill / Sable Gap drilling include 27.20 m of 1.46 g/t Au (TA12-11), 4.70 m of 12.32 g/t Au (TA12-14) and 4.71 m of 7.91 g/t Au (TA 12-15). Mineralized intervals are centred on ankerite altered zones surrounding quartz-ankerite veins hosted by basalt. Higher-grade gold mineralization is associated with halos of disseminated pyrite and less common arsenopyrite surrounding the veins, and also with vein-hosted native gold that typically occurs with trace tetrahedrite, sphalerite or chalcopyrite. Two types of contemporaneous veins are recognized: laterally continuous shear veins and discontinuous extensional veins, the latter which occur as splays emanating from shear veins. Together they form a complex structural network; re-examination of drill core from the historic Taurus core archive, in conjunction with the 2012 drilling program has shown that shear vein structures can be linked between adjacent drill holes. This new interpretation is guiding current and future exploration drilling at Taurus.
Table 1. Drill Core Sample Results - 88 Hill
----------------------------------------------------------------------------
Weighted Average
Hole Number From (m) To (m) Interval (m)(i) (g/t Au)
----------------------------------------------------------------------------
TA12-01 34.00 40.50 6.50 0.62
----------------------------------------------------------------------------
TA12-02 70.00 102.10 32.10 1.00
TA12-02 164.60 175.00 10.40 1.36
----------------------------------------------------------------------------
TA12-04 6.38 32.61 26.23 0.96
including 28.22 32.61 4.39 3.23
TA12-04 43.60 51.26 7.66 1.25
----------------------------------------------------------------------------
TA12-05 31.00 37.00 6.00 8.94
TA12-05 62.95 108.50 45.55 0.72
----------------------------------------------------------------------------
TA12-09 11.20 16.30 5.10 4.85
TA12-09 42.00 48.90 6.90 3.06
----------------------------------------------------------------------------
(i)Reported drill intercept widths are approximately 65 to 80% of true width
Table 2. Drill Core Sample Results - 88 Hill / Sable Gap
----------------------------------------------------------------------------
Weighted Average
Hole Number From (m) To (m) Interval (m)(i) (g/t Au)
----------------------------------------------------------------------------
TA12-03 14.94 23.90 8.96 2.05
TA12-03 72.20 80.40 8.20 1.58
----------------------------------------------------------------------------
TA12-06 16.10 33.25 17.15 1.04
including 21.05 25.30 4.25 1.94
----------------------------------------------------------------------------
TA12-07 15.77 27.00 11.23 1.18
----------------------------------------------------------------------------
TA12-08 Failed to reach bedrock
----------------------------------------------------------------------------
TA12-10 14.04 17.10 3.06 4.23
TA12-10 41.29 57.16 15.87 1.56
TA12-10 99.05 106.38 7.33 2.03
----------------------------------------------------------------------------
TA12-11 36.50 42.65 6.15 2.65
TA12-11 104.60 131.80 27.20 1.46
----------------------------------------------------------------------------
TA12-12 85.15 88.00 2.85 1.56
TA12-12 119.85 127.03 7.18 1.88
----------------------------------------------------------------------------
TA12-13 No significant results
----------------------------------------------------------------------------
TA12-14 15.80 20.67 4.87 1.82
TA12-14 26.00 30.70 4.70 12.32
----------------------------------------------------------------------------
TA12-15 15.89 20.60 4.71 7.91
TA12-15 100.50 107.21 6.71 1.16
----------------------------------------------------------------------------
(i)Reported drill intercept widths are approximately 65 to 85% of true width
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.
Quality Control
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 screen metallic fire assay.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
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.
Contacts:
China Minerals Mining Corporation
Toll Free: 1-888-629-1505 or (604) 629-1505
(604) 629-0923 (FAX)
www.chinamineralsmining.com