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| February 10, 2005 TWO SIGNIFICANT GOLD ZONES TRACED AT GUANNIUWAN GOLD PROPERTY | |
| Minco Mining & Metals Corporation ("MINCO") (TSX: "MMM") is pleased to report results from the exploration program conducted in 2004 at its Guanniuwan Gold project in Gansu Province, China. Guanniuwan property lies 15 km west of MINCOs 3 million oz gold Anba joint venture and along the same geological structure. MINCO can earn up to 75% through expenditure of approx US$1.2 million on the three gold properties on the Yangshan gold belt. 2004 exploration program on Guanniuwan comprised 1:2,000 scale geological mapping covering 3 sq. km; re-sampling of old trenches, artisanal mining pits and adits; and driving of two adits. A total of 415 channel samples was taken. Two gold mineralization zones (North Zone and West Zone) discovered previously were traced from a surface mapping and trenching program. One adit (PD2301) was driven to 100m in the North Zone and a second 100m adit (PD15903) was driven in the West Zone. The latter adit had not reached the target mineralized zones by season's end. North Zone In the North Zone, gold mineralization occurs in bedding plane faults within Devonian sandstones, limestones and slates, and is concentrated along a 10-50m fracture zone, traceable for over 1,500 metres at surface. Four gold zones have been delineated within the North Zone of more than 800 metres in length and 30 to 50m in width. Gold mineralization mainly occurs in fractured quartz sandstone. The main gold zone (No. 2) has been traced by 7 trenches at surface and four adits (including three adits previously dug by the No.2 Geo-exploration Institute) at depth. The zone has a strike length of 320m with average width of 4.55m, ranging 2-7 meters, and average grade of 4.13 g/t gold (1-11.75g/t gold). The No. 2 zone, still open along strike, occurs as stratiform, disseminated mineralization and dips North at 51 to 80 degrees. In adit PD2301, four mineralized zones were intersected including a 7.0 metre intersection at 9.04 grams per tonne cut grade, or 34.19 grams per tonne uncut.
Intersection Average Grade Remarks
(Metres) (grams/tonne
gold)
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From To Length
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33 40 7.0 34.19 No.2 zone - Uncut grade
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33 40 7.0 9.04 No.2 zone - Cut grade:
One 1.0 metre sample of
210.24 grams/tonne was
cut to 34.19 grams/tonne,
the average grade of the
uncut intersection
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Other intersections in the adit
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42 44 2.0 1.40 No.2-1 zone, a tongue of
No.2 zone
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51 52 1.0 2.55 No.3 zone
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53 54 1.0 1.03
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Atomic absorption assaying was undertaken by the No.2 Institute Laboratory in Lanzhou. West Zone In the West Zone, gold mineralization occurs in fractured Triassic silicified quartz sandstone, structural breccia and altered granite porphyry dykes. By mapping and sampling the old mining tunnels, the mineralization can be traced for more than 1,200m along the northeast strike. Mineralization zone is from 0.5 to 5m in width and grade ranges from 0.5 to 8g/t Au. Dr. Ken Cai, President and CEO comments: "We are particularly encouraged by these first results from Guanniuwan, coming on top of our recently announced exploration successes at the Guojiagou property within the same joint venture, where soil sampling and trenching results identified a large gold geochemical anomaly. We will be conducting further aditing and trenching in the 2005 field season at Guanniuwan to trace the 4 gold zones preparatory to a drill program. We are confident the 90km Yangshan Gold Belt, in which our 3 million oz Anba Gold Project and the three nearby Yangshan Extension properties lie, will emerge as a significant gold province within the Qinling Gold Triangle, Chinas second largest gold mining district." This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board, and designated Qualified Person. For further information, please contact William Meyer, P.Eng. Chairman of the Board at Minco at 1-888-288-8288 or (604) 688-8002 info@mincomining.ca www.mincomining.ca The Toronto Stock Exchange does not accept responsibility for the accuracy of this news release. Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. Refer to the Company's Form 20-F and Form 6-K reports for a more detailed discussion of factors that may impact future results. The Company undertakes no obligation and has no intention of updating forward-looking statements | |
