Minco Gold Discovers a Significant Gold Zone on the Oujiaba Property
09 Mars 2010 - 3:00PM
Marketwired
Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:
MMM)(NYSE Amex: MGH)(FRANKFURT: MI5) is pleased to announce the
discovery of a large gold zone on its 100% owned Oujiaba property,
within the Yangshan Gold Belt, Gansu Province P.R.C. The discovery
has been traced for approximately 6 kilometres and has the same
host lithologies as the Anba gold deposit. The Anba deposit is
considered to be a Carlin-type gold deposit and is estimated to
have over 10 million oz Au. Please refer to the property map with
sample results on the Minco website.
Continuous channel samples were taken in 4 places along the 6 km
mineralized structure and returned averaged gold results of:
- Line 0 1.18g/t Au over 4.7 metres
- Line 400 13.2 g/t Au over 10.0 metres
- Line 496 0.33 g/t Au over 4.0 metres
- Line 608 0.60g/t Au over 1.5 metres
Individual continuous channel sample results for Line 400
are:
----------------------------------------------------------------------------
Sample No. Width (m) Au grade (g/t) alteration
----------------------------------------------------------------------------
H400-1 1.0 15.35 Silicification with limonite
------------------------------------------
H400-2 1.0 0.89
------------------------------------------
H400-3 1.0 23.05
------------------------------------------
H400-4 1.0 7.70
------------------------------------------
H400-5 1.0 9.74
------------------------------------------
H400-6 1.0 9.77
------------------------------------------
H400-7 1.0 9.61
------------------------------------------
H400-8 1.0 29.70
------------------------------------------
H400-9 1.0 23.05
------------------------------------------
H400-10 1.0 3.36
----------------------------------------------------------------------------
Note: True width is estimated to be 7.0 metres
The gold enriched, hydrothermally altered structural trend has
been discovered during the 2009 exploration program which consisted
of traversing and trenching. The mineralization has a width ranging
from 5 to 10 metres and is hosted along the contact of hanging wall
limestone and heavily folded footwall phyllite which is intruded by
numerous intrusive dykes. Numerous grab samples taken from outcrop
along the structure returned 0.5g/t to 27.9g/t Au.
The Oujiaba property, located 25 kilometres east of the Anba
gold deposit, is part of the Company's 100% owned Longnan Project
which is located within the Yangshan Gold Belt.
In 2010 Minco will continue to explore and define this
favourable target with further sampling, trenching, geophysics and
potentially diamond drilling.
Samples were prepared and assayed at SGS - CSTC Standards
Technical Company, TEDA Tianjin, PRC under the supervision of an
International certified assayer. Samples were analyzed with fire
assay with AAS finish for gold and aqua regia with an AAS finish
for silver. External check samples were sent to Intertek
Laboratories in Beijing, PRC for additional check analysis.
Mr. Dwayne Melrose, P.Geo. Vice President Exploration for Minco
Gold, has reviewed this news release and is the Qualified Person
responsible for verification and quality assurance of the company's
exploration data and analytical results.
About Minco Gold
Minco Gold Corporation (TSX: MMM)(NYSE Amex: MGH)(FRANKFURT:
MI5) is a Canadian mining company involved in the direct
acquisition and development of high-grade, advanced stage gold
properties. The Company owns an exploration property portfolio
covering more than 1,000 square kilometres of mineral rights in
China. For more information on Minco Gold and its properties,
please visit the website at www.mincomining.ca.
ON BEHALF OF THE BOARD
Dr. Ken Z. Cai, President & CEO
The statements that are not historical facts are forward-looking
statements involving known and unknown risks and uncertainties
which could cause actual results to vary considerably from these
statements. The risks and uncertainties include those described in
Minco Gold's annual report on Form 20-F filed with the U.S.
Securities and Exchange Commission. Forward Looking Statements:
Statements in this news are forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995. Forward looking statements are statements that are not
historical facts and that are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements,
including risks related to the exploration stage of the company's
projects; market fluctuations in prices for securities of
exploration stage companies; uncertainties about the availability
of additional financing; uncertainties related to fluctuations in
gold prices; the possibility that Minco Gold Corporation may change
its plans with respect to one or more properties; and other risks
and uncertainties described in the company's annual report on Form
20-F and Reports on Form 6-K filed with or furnished to the U.S.
Securities and Exchange Commission. Although we believe the
expectations reflected in our forward looking statements are
reasonable, results may vary, and we cannot guarantee future
results, levels of activity, performance or achievements.
The TSX has neither approved nor disapproved of the information
contained herein.
Contacts: Minco Gold Corporation Ute Koessler 1-888-288-8288 or
(604)-688-8002 info@mincomining.ca www.mincomining.ca
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