Breaking News for February 17, 2009
Trading Symbol: MMM:TSX
Minco Gold Corporation (the
"Company" or "Minco Gold") (TSX:MMM)(NYSE Alternext US:MGH)(FRANKFURT:MI5) is
pleased to report additional assay results of 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. These
20 holes were primarily designed to confirm the earlier wider spaced
positive drill results to a higher confidence level and to extend
mineralization down dip.
An area of 120 by 120 m (sections 4
to 14) was in-filled with 9 drill holes that returned significant
results. The 40 by 40
m spaced drilling will extend the higher
confidence resources from the previous resource estimation completed
in March 2008. Mineralization was also extended down dip in localized
areas along the eastern end of the known mineralization. Please visit
the Company's website at www.mincogold.ca to view a map of the drill hole locations.
Assay results are highlighted
by the following intersections:
- CK2035 7.79 g/t gold over 6.90 m and 5.62 g/t gold over 7.80 m
- CK2037 5.86 g/t gold over 6.00 m, including 9.77 g/t gold over 3.00 m
- CK2038 7.31 g/t gold over 5.70 m and 7.83 g/t gold over 4.90 m
- CK2042 3.93 g/t gold over 36.70 m, including 6.30 g/t gold over 4.90 m
and 5.22 g/t gold over 4.20 m
- CK2044 6.81 g/t gold over 3.85 m
- CK2048 5.93 g/t gold over 23.75 m, including 8.28 g/t gold over 5.55 m
and 9.40 g/t gold over 7.00 m
- CK2050 3.41 g/t gold over 10.35 m and 8.33 g/t gold over 6.60 m
- CK2051 7.26 g/t gold over 8.55 m and 6.01 g/t gold over 4.32 m
--------------------------------------------------------------------------
Average Grade
From To Intercept -----------------------------
Hole No. (m) (m) (m) Au(g/t) Ag(g/t) Pb(%) Zn(%)
--------------------------------------------------------------------------
CK2013 118.70 120.50 1.80 1.17 2.56 n/a n/a
--------------------------------------------------------------------------
69.80 70.70 0.90 8.72 5.40
CK2015 --------------------------------------------------- n/a n/a
79.00 81.00 2.00 5.11 6.70
--------------------------------------------------------------------------
95.50 97.23 1.73 2.78 7.58
CK2033 --------------------------------------------------- n/a n/a
119.47 122.88 3.41 4.74 17.69
--------------------------------------------------------------------------
115.00 121.90 6.90 7.79 12.30
---------------------------------------------------
132.35 134.30 1.95 1.94 11.62
CK2035 --------------------------------------------------- n/a n/a
136.30 144.10 7.80 5.62 15.49
---------------------------------------------------
incl. 140.30 143.15 2.85 9.99 13.90
--------------------------------------------------------------------------
76.00 82.00 6.00 5.86 8.50
---------------------------------------------------
incl. 77.00 80.00 3.00 9.77 14.00
CK2037 --------------------------------------------------- n/a n/a
88.20 89.30 1.10 5.79 22.00
---------------------------------------------------
114.00 114.75 0.75 4.14 16.00
--------------------------------------------------------------------------
106.10 112.40 5.70 7.31 10.82
---------------------------------------------------
114.10 121.00 4.90 7.83 12.59
---------------------------------------------------
125.80 127.70 1.90 1.43 8.95
CK2038 --------------------------------------------------- n/a n/a
135.70 139.40 3.70 1.12 229.00
---------------------------------------------------
146.00 146.50 0.50 2.92 248.00
---------------------------------------------------
151.90 152.30 0.40 1.20 156.00
--------------------------------------------------------------------------
151.10 153.90 2.80 0.65 204.39
---------------------------------------------------
CK2039 178.05 179.05 1.00 0.31 433.00 n/a n/a
---------------------------------------------------
198.88 201.65 2.77 0.19 84.38
--------------------------------------------------------------------------
CK2041 No Significant Results
--------------------------------------------------------------------------
147.40 184.10 36.70 3.93 14.77
---------------------------------------------------
incl. 162.20 167.10 4.90 6.30 15.61
CK2042 --------------------------------------------------- n/a n/a
incl. 174.10 178.30 4.20 5.22 19.19
---------------------------------------------------
184.10 184.85 0.75 0.72 223.00
--------------------------------------------------------------------------
35.40 36.40 1.00 1.81 8.00
---------------------------------------------------
CK2043 36.40 45.80 9.40 3.46 5.86 n/a n/a
---------------------------------------------------
incl. 41.55 43.50 1.95 6.78 12.00
--------------------------------------------------------------------------
44.15 48.00 3.85 6.81 7.87
CK2044 --------------------------------------------------- n/a n/a
incl. 44.15 46.15 2.00 9.24 11.00
--------------------------------------------------------------------------
53.75 55.70 1.95 1.49 4.54
CK2045 --------------------------------------------------- n/a n/a
61.03 63.73 2.70 1.62 3.37
--------------------------------------------------------------------------
98.30 100.80 2.50 1.93 2.60
---------------------------------------------------
CK2046 106.70 107.70 1.00 1.05 7.00 n/a n/a
---------------------------------------------------
112.85 113.75 0.90 2.09 27.00
--------------------------------------------------------------------------
109.65 114.60 4.95 1.56 9.72
---------------------------------------------------
CK2047 136.00 144.00 8.00 3.59 4.25 n/a n/a
---------------------------------------------------
incl. 137.00 140.00 3.00 6.13 5.00
--------------------------------------------------------------------------
137.65 161.40 23.75 5.93 7.40
---------------------------------------------------
incl. 139.55 145.10 5.55 8.28 10.54
CK2048 --------------------------------------------------- n/a n/a
incl. 153.40 160.40 7.00 9.40 9.70
---------------------------------------------------
163.05 165.70 2.65 1.42 7.21
--------------------------------------------------------------------------
56.14 58.90 2.76 4.57 7.12
---------------------------------------------------
62.85 73.20 10.35 3.41 4.77
---------------------------------------------------
CK2050 incl. 68.70 72.35 3.65 5.52 7.12 n/a n/a
---------------------------------------------------
78.40 85.00 6.60 8.33 9.44
---------------------------------------------------
incl. 78.40 82.30 3.90 10.99 12.00
--------------------------------------------------------------------------
68.65 75.80 7.15 1.81 3.94
---------------------------------------------------
75.80 84.35 8.55 7.26 11.95
CK2051 --------------------------------------------------- n/a n/a
incl. 77.65 80.35 2.70 11.01 16.29
---------------------------------------------------
102.15 106.47 4.32 6.01 6.74
--------------------------------------------------------------------------
118.37 119.00 0.63 1.85 3.00
CK2052 --------------------------------------------------- n/a n/a
126.15 126.85 0.70 5.88 25.00
--------------------------------------------------------------------------
72.15 76.40 4.25 3.11 5.81
CK2054 --------------------------------------------------- n/a n/a
78.40 80.40 2.00 1.27 3.00
--------------------------------------------------------------------------
100.10 106.20 6.10 4.60 6.11
---------------------------------------------------
CK2055 incl. 102.55 105.15 2.60 6.70 9.30 n/a n/a
---------------------------------------------------
107.35 108.55 1.20 1.13 5.00
--------------------------------------------------------------------------
True widths for the
mineralized zones are typically from 75% to 95% of the stated
intercepts.
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 Mining Consultants Inc.
to complete an updated NI 43-101 compliant resource estimation.
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. Assay results were further checked
internally at SGS. External check samples were also 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)(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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Minco Gold Corporation
Ute Koessler
1-888-288-8288 or (604) 688-8002
Email: info@mincomining.ca
Website: www.mincomining.ca
The TSX has neither approved nor disapproved of the
information contained herein.