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| February 11, 2009 Minco Announces Initial Changkeng Drill Results and Extension of Mineralization | |
Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM/NYSE Alternext US:MGH/FSE:MI5) is pleased to report the assay results of the first 22 diamond drill holes completed for the Changkeng Gold Project located in Guangdong Province, China. The Company conducted a comprehensive exploration program on the project including approximately 12,000 metres of combined step out and in-fill diamond drilling in 61 holes. The first 22 holes mainly tested the wider spaced drill targets throughout the entire property. Overall the drilling was very successful by extending gold mineralization for approximately 300 metres along strike from previously defined resources (announced March 10, 2008) to the east-northeast and also to the eastern Changkeng property boundary. The strike length of the known gold mineralization has now been increased from 900 metres to 1,200 metres in length. Assay results are highlighted by the following intersections:
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Inter- Average Grade
From To cept ---------------------------------
Hole No. (m) (m) (m) Au(g/t) Ag(g/t) Pb(%) Zn(%)
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31.20 32.20 1.00 1.31 less
than 0.5
CK2012 -------------------------------------------- n/a n/a
40.20 41.20 1.00 1.96 16.00
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92.20 97.00 4.80 3.01 1.79
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CK2014 incl. 92.20 94.00 1.80 4.46 3.11
-------------------------------------------- n/a n/a
121.30 135.90 14.60 5.15 14.69
--------------------------------------------
incl. 131.30 135.30 4.00 9.66 25.68
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170.46 171.34 0.88 2.72 13.00
CK2016 -------------------------------------------- n/a n/a
183.38 185.84 2.46 0.49 110.98
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231.50 234.90 2.70 0.31 215.77 0.03 0.17
CK2017 --------------------------------------------------------------
242.05 242.25 2.20 0.17 66.30 0.03 0.12
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256.20 260.10 3.90 0.11 43.16
--------------------------------------------
260.10 261.00 0.90 0.05 113.30
CK2018 -------------------------------------------- n/a n/a
278.75 283.70 4.95 0.04 54.67
--------------------------------------------
294.00 295.60 1.60 0.29 217.00
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263.10 264.20 1.10 1.44 22.30 0.02 0.03
--------------------------------------------------------------
273.45 274.65 1.20 0.09 122.70 0.05 0.09
--------------------------------------------------------------
279.65 282.45 2.80 0.24 62.39 0.26 0.38
CK2019 --------------------------------------------------------------
286.95 287.85 0.90 0.05 209.40 0.12 0.15
--------------------------------------------------------------
294.35 296.30 1.95 0.19 386.84 2.99 3.81
--------------------------------------------------------------
311.10 320.95 9.85 0.08 96.47 0.26 0.59
-----------------------------------------------------------------------
197.50 199.50 2.00 0.32 88.89 0.23 1.50
--------------------------------------------------------------
204.70 206.80 2.10 0.19 154.41 0.15 0.48
CK2020 --------------------------------------------------------------
220.50 221.00 0.50 0.20 658.00 0.26 0.17
--------------------------------------------------------------
263.88 264.44 0.56 0.23 1,154.90 2.10 18.74
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62.10 66.11 4.01 1.79 2.83
CK2021 -------------------------------------------- n/a n/a
74.28 76.28 2.00 1.16 1.13
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170.70 175.70 5.00 1.80 3.61
--------------------------------------------
182.30 193.50 11.20 3.93 5.74
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incl. 183.30 185.30 2.00 8.15 11.00
CK2022 -------------------------------------------- n/a n/a
195.50 197.50 2.00 1.53 3.00
--------------------------------------------
198.50 220.35 21.85 7.74 8.71
--------------------------------------------
incl. 199.50 206.30 6.80 10.55 12.70
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140.50 143.90 3.40 1.83 2.60
CK2023 -------------------------------------------- n/a n/a
145.42 146.22 0.80 5.00 7.40
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226.40 228.40 2.00 1.11 less
than 0.5
--------------------------------------------
228.40 236.60 8.20 3.75 14.99
--------------------------------------------
incl. 230.60 234.60 4.00 5.48 17.25
CK2024 -------------------------------------------- n/a n/a
254.10 258.10 4.00 2.33 4.25
--------------------------------------------
259.70 264.70 5.00 3.07 8.02
--------------------------------------------
264.70 269.70 5.00 1.74 11.22
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206.20 209.10 2.90 0.25 185.17 0.11 0.42
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217.50 219.10 1.60 0.72 82.40 0.11 0.20
--------------------------------------------------------------
CK2025 228.50 229.40 0.90 0.17 178.50 0.95 4.36
--------------------------------------------------------------
261.80 262.70 0.90 0.05 499.65 0.21 0.25
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268.30 269.00 0.70 0.17 109.60 0.46 1.37
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195.05 208.95 13.90 0.56 364.93 0.88 4.37
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incl. 201.30 207.25 5.95 0.58 660.00 1.85 8.80
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CK2026 222.15 223.00 0.85 0.08 477.85 0.45 0.15
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236.15 237.13 0.98 0.05 138.75 0.17 0.77
--------------------------------------------------------------
288.95 289.86 0.91 0.02 218.65 1.83 11.29
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124.97 141.36 16.39 1.55 3.61
--------------------------------------------
CK2027 154.47 157.45 2.98 1.63 2.18 n/a n/a
--------------------------------------------
159.30 165.02 5.72 6.36 6.99
-----------------------------------------------------------------------
167.60 181.50 13.90 5.26 11.39
--------------------------------------------
CK2028 incl. 170.20 174.80 4.60 8.08 15.34 n/a n/a
--------------------------------------------
181.50 183.50 2.00 1.61 7.20
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184.15 196.00 11.85 0.39 322.24 1.16 1.92
--------------------------------------------------------------
incl. 187.10 190.10 3.00 0.60 938.80 1.74 3.88
CK2029 --------------------------------------------------------------
212.00 213.05 1.05 0.13 193.20 0.36 0.09
--------------------------------------------------------------
232.10 237.60 5.50 0.16 374.90 1.06 1.91
-----------------------------------------------------------------------
118.20 121.10 2.90 1.54 2.31
--------------------------------------------
124.10 127.10 3.00 2.04 3.00
--------------------------------------------
129.10 139.10 10.00 4.84 5.35
CK2030 -------------------------------------------- n/a n/a
incl. 132.10 136.10 4.00 8.19 5.75
--------------------------------------------
139.10 141.10 2.00 1.67 4.50
--------------------------------------------
155.30 156.90 1.60 1.76 4.00
-----------------------------------------------------------------------
173.60 174.60 1.00 1.17 9.45
--------------------------------------------
CK2031 179.60 180.60 1.00 1.48 5.50 n/a n/a
--------------------------------------------
199.80 200.80 1.00 0.11 65.70
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179.10 182.10 3.00 3.43 12.13 less 0.04
than 0.01
--------------------------------------------------------------
195.50 200.90 4.90 0.10 142.77 0.10 0.57
--------------------------------------------------------------
CK2032 209.20 212.20 3.00 0.12 139.87 0.11 0.40
--------------------------------------------------------------
248.50 249.50 1.00 0.13 129.80 0.21 0.95
--------------------------------------------------------------
272.75 273.45 0.70 0.20 270.35 0.54 1.26
-----------------------------------------------------------------------
CK2034 62.70 68.80 6.10 2.04 2.55
-------------------------------------------- n/a n/a
incl. 65.70 67.80 2.10 3.00 2.45
-----------------------------------------------------------------------
144.86 147.06 2.20 2.68 8.40
--------------------------------------------
CK2036 159.40 166.30 6.90 4.87 7.47 n/a n/a
--------------------------------------------
incl. 162.10 163.95 1.85 11.20 13.82
-----------------------------------------------------------------------
93.76 95.76 2.00 1.59 2.25
--------------------------------------------
CK2040 96.76 104.98 8.22 5.20 8.35 n/a n/a
--------------------------------------------
incl. 98.50 103.98 5.13 7.28 11.65
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True widths for the mineralized zones are typically from 75% to 95% of the stated intercepts. Please visit the Company's website at www.mincogold.ca to view a map of the drill hole locations.Minco Gold will continue to release the results from the drill program when all the necessary check sampling has been completed and verified on the Changkeng Gold project. The Company has also engaged P&E Engineering to complete an updated NI 43-101 compliant resource estimation. Samples were prepared and assayed at PRA Kunming lab (Process Research Associated Ltd.) with supervision of a certified BC assayer. Samples were assayed with fire assay and AAS or gravimetric finish. Assay results were further checked at PRA's Vancouver lab as an external check. Samples have also been sent to ASL Chemex Laboratories in Guangzhou, Guangdong Province, PRC for additional check analysis. Reference materials were inserted by Minco geologists as part of a comprehensive quality assurance/quality control program. 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 Alternext US:MGH/FSE: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 or contact Ute Koessler at 1-888-288-8288 or (604)-688-8002 info@mincomining.ca. "Dr. Ken Z. Cai" President & CEO The TSX has neither approved nor disapproved of the information contained herein. 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. | |
