Drilling Continues to Intersect Wide Oxide and Sulphide Gold Mineralization at Golden China's Beyinhar Gold Project
Including 69 m @1.2g/t; 52 m @1.1g/t; and 39m @ 1.7g/t
Toronto, Ontario, June 5, 2007 - Golden China Resources Corporation (GCX: TSX, ASX) today announced excellent results for the Company's 2007 drilling program at its Beyinhar gold project, located in the Inner Mongolia Autonomous Region (China). The 2007 program continues to delineate a consistent and shallow oxide gold deposit to the southwest of the previously established mineralization with exceptional drill intercepts, including BYD160 with 69 metres averaging 1.16 g/t gold. The latest results continue to demonstrate an ongoing higher-grade zone within this broad gold-mineralized envelope.
Highlights of Golden China's 2007 interim drilling results include:
-
BYD160: 68.6 metres at 1.16 g/t gold
-
BYD157: 52 metres at 1.1 g/t gold
-
BYD153: 39.2 metres at 1.73 g/t gold
"The progress at Beyinhar over the past six months has been excellent. In addition to the drilling results we're seeing today, we are particularly pleased with the findings of a recent scoping study, filed on SEDAR on May 17, 2007, which demonstrate that Beyinhar has the potential to produce 100,000 ounces per annum at an average cost of between US$260 and US$280 ounce, well below industry average," said Greg Starr, President and CEO of Golden China Resources. "In terms of our objectives, we are still on track to meet our medium-term target of mine development in April 2008 and a first gold pour by late 2008. Leading up to this, the market can expect to see an updated Canadian National Instrument 43-101 compliant independent mineral resource estimate for Beyinhar this October (2007), which will form part of the Beyinhar Feasibility Study, expected for release in December 2007."
Golden China's 2007 Beyinhar drilling program at Beyinhar continues to successfully delineate a wide, continuous, shallow, mostly oxide gold deposit, approximately 150-200 metres wide, 80-110 metres deep and at least 2 kilometres long. The deposit is demonstrably open along strike and down-dip.
Of Golden China's scheduled 17,000 metre 2007 exploration program, the company has drilled a total of 22 holes encompassing 3,700 metres. The drilling primarily focuses on a 50 metre spaced grid program with the overall objective of increasing measured and indicated resources at Beyinhar from 475,000 to over 1 million ounces by upgrading the inferred resource to the indicated category and expanding the resource to the southwest (towards the 100%-owned exploration license and the sulphide mineralization identified at depths as shallow as 60 metres) as well as the northeast.
Consisting predominantly of 60� dipping southeast-oriented drill holes, the program is focused on gold mineralization occurring along the generally steep, north-dipping, northeast-trending, gold-productive Beyinhar Shear Zone, which has been traced on surface for at least three kilometres. Encouraging results continue to demonstrate strong continuity of the gold minerali
zation in both the oxide and sulphide zones. Drilling has further extended mineralization to the southwest with an increasing trend of a more dominant sulphide mineralization at shallower depths. This is highlighted by significant gold intercepts along cross section 10250E (Figs. 1 & 2), 150m west from the current defined resource block, and step out holes as far as 9950E, including BYD157, BYD158 and BYD159 (Fig. 2).
The primary high grade gold mineralization is traced to classic epithermal quartz veins and breccias. The presence of a largely flared up rhyolite unit north of the shear is mainly responsible for the geometry of this extensive gold mineralisation providing apparent rheological contrast with the primarily schistoic/gneissic host rocks (Fig. 2).
Figure 1. Drill Cross Section 10250E
Figure 2. Surface outline of Beyinhar gold deposit
THIS PRESS RELEASE CONTAINS MAPS. CLICK HERE TO VIEW ORIGINAL PDF VERSION OF THIS RELEASE.
Results of the on-going drill program include:
Hole_ID |
From Depth (m) |
To |
Interval (m) |
Grade (g/t Au) |
Comments |
Depth (m) |
BYD145 |
42 |
108 |
66 |
0.72 |
oxide |
BYD146 |
40 |
92 |
52 |
0.95 |
oxide |
BYD147 |
56 |
120 |
64 |
0.68 |
oxide |
BYD148 |
4 |
10 |
6 |
1.39 |
oxide |
BYD149 |
82 |
94 |
14 |
0.56 |
oxide |
BYD150 |
30 |
50 |
20 |
0.6 |
oxide |
BYD152R |
112.8 |
133.3 |
20.5 |
0.41 |
sulphide |
BYD153 |
48 |
87.2 |
39.2 |
1.73 |
oxide |
BYD154 |
80 |
119.6 |
39.6 |
0.85 |
|
incl. |
80 |
89.15 |
9.15 |
0.41 |
oxide |
incl. |
89.15 |
119.6 |
30.45 |
0.99 |
sulphide |
BYD155 |
124 |
145 |
21 |
1.00 |
sulphide |
and |
153 |
174 |
21 |
0.88 |
sulphide |
BYD157 |
58 |
110 |
52 |
1.05 |
|
incl. |
58 |
78 |
20 |
0.45 |
oxide |
incl. |
78 |
110 |
32 |
1.43 |
sulphide |
BYD158 |
72 |
150 |
78 |
0.41 |
|
incl. |
72 |
77.6 |
5.6 |
0.33 |
oxide |
incl. |
77.6 |
150 |
72.4 |
0.42 |
sulphide |
BYD159 |
68 |
74 |
6 |
2.07 |
oxide |
and |
102 |
127.2 |
25.2 |
0.89 |
sulphide |
BYD160 |
138 |
206.6 |
68.6 |
1.16 |
sulphide |
BYD161 |
12 |
18 |
6 |
0.81 |
oxide |
Significant gold assay results from the on-going 2007 drilling program.
Lower cut-off at 0.30 g/t gold and high gold values uncut
About Beyinhar
Golden China's Beyinhar gold project lies along the Sonid Zouqi gold corridor within the Inner Mongolia Fold Belt Region, a productive orogenic belt hosting several skarn, shear-hosted, orogenic/mesothermal veins and porphyry Cu-Au deposits. This Fold Belt region hosts the world-class Oyu Tolgoi copper-gold deposit (1.39 billion tonnes @ 1.33 % copper and 0.47 g/t gold), and CSH 217 shear-hosted gold deposit (109 million tonnes @ 0.83 g/t gold).
Beyinhar is a near surface, bulk-mineable oxide, and heap leachable gold deposit. It is only about 1.5 kilometres from the Hohhot-Xilinhot highway in proximity to a well-established provincial railway line and within an easily accessible power grid supply.
Golden China has released a NI 43-101 compliant Scoping Study on the Beyinhar gold project, which is available on the company's website (http://www.goldenchina.ca/Default.aspx?id2) and on SEDAR (www.SEDAR.com).
Qualified Person
Alfonso Latorre (MAusIMM), Golden China's Beyinhar Project Manager and the Qualified Person as defined by National Instrument 43-101, is overseeing the company's exploration work at Beyinhar and supervised the preparation of the information in this release. Samples from Beyinhar were prepared and assayed by the Intertek Labs in Beijing, China. Samples were assayed for gold by fire assay (50 gram) with AAS finish. Golden China inserted blanks, standard and duplicate samples at sample preparation stage to monitor the quality control of the assay data. Golden China has established and maintains a comprehensive quality control-quality assurance (QA/QC) program.
About Golden China Resources Corporation:
Golden China Resources Corporation is a significant participant and consolidator in the Chinese precious metal industry and one of the largest producers of gold in China. The company is using its extensive knowledge of the Chinese marketplace and best practices based on established international standards in building a diversified gold business focused on exploration and development, operations, and corporate development in the Chinese precious metal industry. Golden China's shares are listed on the main boards of both the Toronto Stock Exchange and the Australian Securities Exchange under the symbol GCX.
For further information please contact:
Golden China Resources Corp.
Kristen (Boucher) Humphrey
Communications Manager
Tel: 416.366.8818 ext. 230
khumphrey@goldenchina.ca
www.goldenchina.ca
or
Renmark Financial Communications Inc.
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Neil Murray-Lyon : nmurraylyon@renmarkfinancial.com
Tel.: 514.939.3989
Fax: 514.939.3717
www.renmarkfinancial.com
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the h
eading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulatory authorities. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
THE TSX AND ASX HAVE NOT REVIEWED AND DO NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.