You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
For Immediate Release <strong>October</strong> <strong>24</strong>, <strong>2012</strong><br />
CHINA MINERALS INTERSECTS GOLD ZONE AT SKY VEIN PROSPECT<br />
AND PROVIDES CORPORATE UPDATE<br />
China Minerals Mining Corporation (“China Minerals” or the “Company”) (TSX-V: CMV, US:<br />
HWTHF) is pleased to announce results from the final 13 diamond drill holes from the Taurus<br />
and Table Mountain Properties of the Cassiar Gold Project, British Columbia. The <strong>2012</strong> drilling<br />
program tested areas peripheral to, as well as internal gaps in, the Taurus Gold Deposit and the<br />
Sky Vein prospect at Table Mountain. The drill holes reported here targeted two areas: the<br />
western margin of the Taurus Deposit on the Taurus Property, and the Sky Vein located 7.5<br />
kilometres to the south on the Table Mountain Property.<br />
Key points of these results include:<br />
<br />
<br />
Hole TM12-06 intersected 12.50 m at 1.91 g/t Au at Sky Vein.<br />
Hole TA12-42 intersected 36.15 m at 1.17 g/t Au at Taurus West.<br />
The now completed drilling program comprised 6,857 m of drilling in 43 drill holes at Taurus,<br />
comprising an initial 40 drill holes reported in previous news releases dated September 18 and<br />
<strong>October</strong> 2, <strong>2012</strong> and the additional three holes reported here, and 10 drill holes totaling 1,340 m<br />
at the Sky Vein prospect on the adjacent Table Mountain Property also reported here.<br />
The Taurus and Table Mountain Properties, which collectively comprise Cassiar Gold Project<br />
are 100% owned by China Minerals. Cassiar Gold is a large, 600 square kilometre property<br />
located in northwest B.C. Access to the area is excellent as paved Highway 37 bisects the<br />
project between Taurus and Table Mountain. The Table Mountain Property contains a fully<br />
permitted gold mill and tailings management facility which are available for potential future ore<br />
processing.<br />
The Company’s Chief Executive Officer, Ling Zhu, is pleased with the overall results of the <strong>2012</strong><br />
drilling program at Cassiar Gold. “The now completed drilling program has advanced our<br />
understanding of the Taurus and Table Mountain Properties. In spite of a long history of mining<br />
and exploration at Cassiar Gold, we are confident more discoveries will result from systematic,<br />
stepwise exploration.”<br />
Taurus West<br />
Drill holes TA12-41 through TA12-43 (Table 1) were directed at Taurus West – the western<br />
most portion of the Taurus Gold Deposit known for its two distinct styles of gold mineralization.<br />
In addition to hosting quartz-ankerite vein-associated gold mineralization (common to the rest of<br />
the Taurus Gold Deposit), Taurus West is characterized by a second style of gold mineralization<br />
containing 10-20% fine-grained, disseminated pyrite with no veining that has been termed “T3”<br />
style. Historic drill holes cutting T3 mineralization returned significant intercepts such as 87.59<br />
metres of 1.43 g/t Au and 25.45 metres of 3.05 g/t Au (true widths uncertain) mostly from northsouth<br />
oriented drill holes.<br />
The three <strong>2012</strong> drill holes tested Taurus West over a strike length of 450 metres with three<br />
westward-directed drill holes. Some broad intervals of elevated gold mineralization were<br />
encountered associated with T3 style mineralization.<br />
Suite 717, 1030 West Georgia Street, Vancouver, BC V6E 2Y3<br />
T. 604.629.1505 F. 604.629.0923 Toll Free. 888.629.1505 www.chinamineralsmining.com
For Immediate Release <strong>October</strong> <strong>24</strong>, <strong>2012</strong><br />
Table 1: Drill Core Sample Results – Taurus West<br />
Sky Vein<br />
Hole Number From (m) To (m) Interval (m)*<br />
Weighted<br />
Average (g/t<br />
Au)<br />
TA12-41 98.20 1<strong>24</strong>.00 25.80 0.69<br />
TA12-41 133.30 166.50 33.20 1.03<br />
including 150.00 165.60 15.60 1.44<br />
TA12-42 139.40 175.55 36.15 1.17<br />
including 151.00 163.90 12.90 1.63<br />
TA12-43<br />
No significant results<br />
*True widths of reported drill intercept widths are uncertain owing to the wide spacing of drill holes.<br />
The Sky Vein Prospect is a mineralized, east-west trending fault and shear zone structure<br />
located approximately equidistant between the past-producing Main (Erikson) and Cusac Mines.<br />
Minimal historic drilling targeted this structure which has a strike length of at least 1,300 metres.<br />
The Sky Vein occurs within a steeply-dipping second order structure which splays downward<br />
from the shallowly-dipping Table Mountain thrust – a geological setting equivalent to the<br />
bonanza grade veins at the nearby past producing mines on the Cassiar Project.<br />
Drill holes TM12-06 through TM12-08 and TM12-10 intersected very thick widths of quartz<br />
veining ranging from 8.30 to 30.10 metres (true width). Results (Table 2), however, indicate that<br />
adjacent wallrock contains more gold than the quartz. These mineralized intervals are<br />
characterized by pervasively sericite-carbonate altered basalt with typically 5% disseminated<br />
pyrite that is locally hydrothermal brecciated. Highlight results such as 12.50 metres of 1.91 g/t<br />
Au and 7.75 metres of 1.27 g/t Au occur on opposite sides of the 8.30 metre thick vein<br />
encountered in TM12-06.<br />
Table 2: Drill Core Sample Results – Sky Vein<br />
Hole Number From (m) To (m) Interval (m)*<br />
Weighted<br />
Average (g/t<br />
Au)<br />
TM12-01 83.90 90.00 6.10 0.50<br />
TM12-02<br />
No significant results<br />
TM12-03<br />
No significant results<br />
TM12-04 75.90 87.55 11.65 0.82<br />
TM12-04 109.13 115.00 5.87 0.65<br />
TM12-05 32.40 46.46 14.06 0.95<br />
TM12-05 54.00 71.83 17.83 1.00<br />
TM12-06 91.90 104.40 12.50 1.91<br />
TM12-06 118.10 125.25 7.15 1.34<br />
TM12-07 102.20 108.55 6.35 0.77<br />
TM12-08<br />
No significant results<br />
TM12-09 133.81 146.00 12.19 1.15<br />
including 135.00 136.86 1.86 3.25<br />
TM12-10 104.97 112.40 7.43 0.50<br />
*Reported drill intercept widths are approximately 70% of true width.<br />
Suite 717, 1030 West Georgia Street, Vancouver, BC V6E 2Y3<br />
T. 604.629.1505 F. 604.629.0923 Toll Free. 888.629.1505 www.chinamineralsmining.com
For Immediate Release <strong>October</strong> <strong>24</strong>, <strong>2012</strong><br />
The <strong>2012</strong> Cassiar Gold field program was managed by Equity Exploration Consultants Ltd. of<br />
Vancouver, B.C. and advised by consulting geologists David Rhys, P.Geo., and B.H. Kahlert,<br />
P.Eng. Drilling was contracted to Apex Diamond Drilling Ltd. of Smithers, B.C. who averaged<br />
105 m coring per day.<br />
About the Taurus Gold Deposit<br />
The Taurus Gold Deposit is located within the northern part of the Cassiar Gold Project. Taurus<br />
hosts an inferred resource of 1.06 million ounces of gold comprising of 33.1 million tonnes at an<br />
average capped grade of 0.99 g/t Au using a cut-off grade of 0.50 g/t Au. The resource is<br />
supported by a technical report titled, “Updated Resource Report on the Taurus Project – Liard<br />
Mining District, B.C.”, dated March 11, 2009 and prepared by Thomas C. Stubens and Marinus<br />
Andre de Ruijter of Wardrop Engineering Inc., which was filed at www.sedar.com on March 18,<br />
2009 and announced via news release dated March 19, 2009. No economic assessment has<br />
been completed on the Taurus resource and consequently it has not demonstrated economic<br />
viability.<br />
Quality Control<br />
The Company’s technical disclosure in this news release has been verified and approved by Dr.<br />
Darcy Baker, Ph.D., P.Geo., an independent Qualified Person as defined by National Instrument<br />
43-101 and President of Equity Exploration Consultants Ltd. Dr. Baker is a consultant to the<br />
Company and supervised the <strong>2012</strong> Cassiar Gold project exploration program.<br />
Quality control procedures for the <strong>2012</strong> drilling program comprise systematic insertion of blank<br />
and certified standard samples and quarter-core duplicate samples into the drill core sample<br />
sequence. Samples were placed in sealed bags and shipped directly to the ALS Minerals<br />
preparation facility in Terrace, B.C. prior to gold analysis by fire assay with atomic absorption<br />
finish and multi-element analysis by ICP methods at the ALS Minerals laboratory in Vancouver,<br />
B.C. For samples returning greater than 5.00 g/t Au, follow-up fire assay analysis with<br />
gravimetric finish is completed while samples returning greater than 10.00 g/t Au undergo check<br />
analysis by screen metallic fire assay. Three samples returning greater than 10.00 g/t Au<br />
reported here have outstanding screen metallic assays. In the unlikely case that these data vary<br />
significantly from the gravimetric analyses, changes will be reported in a subsequent news<br />
release.<br />
Corporate Update<br />
China Minerals advises that the Company’s CEO, Ling Zhu, has been appointed the Executive<br />
Chairman of the Company to fill the vacancy created by the stepping down of David Bo, former<br />
Executive Chairman.<br />
About China Minerals Mining Corporation<br />
China Minerals Mining Corporation is a Canadian based exploration and development company<br />
with offices located in Vancouver, B.C. and Beijing, China. China Minerals’ ambition is to build<br />
an international mining company.<br />
For more information on China Minerals, call the Company toll free at 1-888-629-1505 or (604)<br />
629-1505, or visit the Company’s website at www.chinamineralsmining.com.<br />
Suite 717, 1030 West Georgia Street, Vancouver, BC V6E 2Y3<br />
T. 604.629.1505 F. 604.629.0923 Toll Free. 888.629.1505 www.chinamineralsmining.com
For Immediate Release <strong>October</strong> <strong>24</strong>, <strong>2012</strong><br />
ON BEHALF OF THE BOARD OF DIRECTORS<br />
"signed by Ling Zhu"<br />
Ling Zhu<br />
Chief Executive Officer<br />
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in<br />
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy<br />
of this release.<br />
Suite 717, 1030 West Georgia Street, Vancouver, BC V6E 2Y3<br />
T. 604.629.1505 F. 604.629.0923 Toll Free. 888.629.1505 www.chinamineralsmining.com
Change language