RNS Number:2015N
Tianshan Goldfields Ltd
05 February 2008
Tianshan Goldfields Limited
("Tianshan" or the "Company")
Measured and Indicated Resources Increase to over
2 Million oz
* 2007 has delivered a significant upgrade in the classification of the
resources at Gold Mountain with combined total Measured and Indicated Mineral
Resources increasing to over 2 million ounces.
* The combined total Measured, Indicated and Inferred Mineral Resource for
Yelmand-Jinxi, Mayituobi and Lion is estimated at 95 million tonnes at 0.9g/t
Au for 2.64 million ounces of gold (at 0.4g/t Au lower cut-off grade).
* 2007 drilling delivers a better constrained resource suitable for input
into pit optimisation studies currently underway.
* Work in 2008 will include infill resource drilling to identify higher
grade feeder zones confirmed at Jinxi and possibly Yelmand, complete
feasibility studies currently underway for a potential open pit and heap
leach mining operation, and drill test targets identified in 2007.
Mineral Resource
Following the completion of the 2007 field season, Tianshan is very pleased to
report updated Mineral Resource estimates for the Yelmand-Jinxi, Mayituobi and
Lion deposits within the 90% owned Gold Mountain Project (Table 1). The
Yelmand, Jinxi and Balake prospects previously reported separately as the
Yelmand and Jinxi deposits, are now reported as the Yelmand-Jinxi deposit.
Table 1: Gold Mountain Micromine January 2008 Mineral Resource Estimate (at 0.4
g/t Au cut-off grade) in accordance with JORC guidelines
Tianshan Goldfields - Gold Mountain Project - Total Mineral Resource as at January 2008
Measured Indicated Inferred Total Resource
Deposit Tonnes Au Au Tonnes Au Au Ounces Tonnes Au Au Tonnes Au Au Ounces
g/t Ounces g/t g/t Ounces g/t
Yelmand-Jinxi 21,942,000 0.9 642,000 46,422,000 0.9 1,268,000 16,807,000 0.9 473,000 85,172,000 0.9 2,383,000
Mayituobi 1,269,000 1.1 43,000 2,251,000 0.9 62,000 436,000 0.7 10,000 3,957,000 0.9 115,000
Lion 26,000 0.7 538 1,221,000 0.6 22,000 4,398,000 0.8 119,000 5,644,000 0.8 142,000
Total 23,237,000 0.9 686,000 49,894,000 0.8 1,352,000 21,641,000 0.9 601,000 94,772,000 0.9 2,640,000
Note: Figures used are rounded
The Gold Mountain Project, located in North West China, has been the subject of
an extensive diamond drilling programme which the Company commenced in 2003.
Over the past 12 months the focus of drilling activity has centred on the
Yelmand-Jinxi and Mayituobi deposits.
The Yelmand- Jinxi, Lion and Mayituobi deposits are found within a 4.0km2 area
in the north west portion of the Gold Mountain exploration licence (covering
approximately 88.5km2), within a north west trending corridor.
Following completion of the 2007 drilling programme, detailed resource modelling
has been completed, which comprises of:
* definition and modelling of envelopes representing mineralised boundaries;
* interpretation and modelling of controlling stratigraphic and structural
features;
* compilation of a block model representing the mineralised envelopes;
* geostatistical analysis of mineralised data; and
* resource estimation and confidence categorisation.
The Mineral Resource estimate undertaken by Mr D Pertel of Micromine Pty Limited
("Micromine") employed the Ordinary Kriging method of grade estimation using a
three dimensional block model.
The Micromine Mineral Resource estimate was completed using the following
parameters:
* drill holes used per deposit are tabled below;
Deposit Holes Metres
Yelmand-Jinxi (inc. Balake) 362 60,065
Mayituobi 54 4,527
Lion 25 4,823
TOTAL 441 69,415
* holes in the Yelmand resource area were drilled generally on 50m drill
sections with some on 100m section lines. Holes in the Jinxi resource were
drilled generally on 25m drill sections with some on 50m section lines.
Holes in the Mayituobi area were drilled on 40m drill sections and on Lion on
100m drill sections;
* all samples for the resource estimate were diamond drill holes. Sample
intervals were generally 1m. All drill intervals were composited to 1m;
* high gold cuts were applied to composite drill hole data as follows:
9g/t at Yelmand, Balake and Mayituobi, 16g/t at Jinxi while Lion used uncut
data;
* Au was analysed using fire assaying with AAS finish;
* wireframes were constructed using cross sectional interpretations with
mineralised polygons having gold values equal to and > 0.3g/t for all
deposits with the assumption that the overall mineralised intersection will
be a minimum of 2m long with maximum internal waste interval of 4m with a
final composite grade of 0.3g/t. Mineralised settings included: stratabound
wireframes, hosted by breccias and tuffs and vertical feeder zones also
hosted by breccias and tuffs;
* a primary search ellipse of 60m along strike by 43m down dip by 10m across
strike was used for Jinxi, Balake and Yelmand. A primary search of 60m by
41m by 10m was used for Mayituobi and Lion;
* block models were created for each deposit with the parent block size of
20m x 20m x 5 and maximum subcelling down to 4m x 4m x 1m (X x Y x Z);
* the Specific Gravities (SG's) chosen as per the table blow; and
Deposit Zone SG, t/m3
Balake High Grade 2.66
Low Grade 2.67
Jinxi High Grade 2.62
Low Grade 2.65
Yelmand High Grade 2.61
Low Grade 2.62
Mayituobi High Grade 2.58
Low Grade 2.61
Lion High Grade 2.50
Low Grade 2.50
Note: High grade zone is mineralisation within 0.3 g/t envelope
Low Grade zone is generally mineralised host within 0.1 g/t envelope
* resource classification was based principally on the results of the
geostatistical analysis of grade distribution and also on drill hole spacing
and confidence in understanding of the deposit geology and structures.
A grade tonnage curve for all deposits combined at various Au cut-off grades is
set out on the Company's website www.tianshangoldfields.com.au
Background to the Resource Estimate
The important objective of the 2007 infill drill programme at Yelmand, Jinxi and
Mayituobi was to deliver Measured and Indicated resources for input into pit
optimisation studies and meet Chinese feasibility study guidelines. More
conservative parameters to preview estimates have therefore been applied,
including:
* a 0.3g/t Au wireframe (compared to 0.2 and 0.1g/t Au in previous estimates);
* domaining out internal waste blocks less than 0.3g/t Au over minimum downhole
thickness;
* better constrained geological and structural model that created nine
different domains each modelled independently; and
* more conservative modelling of Inferred resources.
At 0.4g/t Au cut-off, the new resource estimate (Table 1) includes combined
Measured and Indicated resources totalling over 2 million ounces gold, or 77% of
the total resource (26% Measured and 51% Indicated).
Significantly, at 0.5g/t Au cut-off, the grade has improved where the combined
Measured, Indicated and Inferred resources is 79 million tonnes at 1g/t Au, as
detailed in Table 2 below.
Table 2: Gold Mountain Micromine January 2008 Mineral Resource Estimate (at 0.5
g/t Au cut-off grade) in accordance with JORC guidelines
Tianshan Goldfields - Gold Mountain Project - Total Mineral Resource as at January 2008
Measured Indicated Inferred Total Resource
Deposit Tonnes Au Au Tonnes Au Au Ounces Tonnes Au Au Tonnes Au Au Ounces
g/t Ounces g/t g/t Ounces g/t
Yelmand-Jinxi 18,638,000 1.0 594,000 38,454,000 0.9 1,152,000 14,396,000 1.0 438,000 71,488,000 1.0 2,185,000
Mayituobi 1,198,000 1.1 42,000 1,965,000 0.9 58,000 388,000 0.8 10,000 3,551,000 1.0 109,000
Lion 16,000 0.8 380 678,000 0.7 14,000 3,417,000 1.0 105,000 4,111,000 0.9 120,000
Total 19,852,000 1.0 637,000 41,096,000 0.9 1,225,000 18,202,000 0.9 553,000 79,150,000 1.0 2,414,000
Note: Figures used are rounded
Gold Mountain Project
Tianshan's aim is to develop and continue to identify large tonnage,
stratabound, disseminated style gold deposits in near surface blankets
associated with high grade feeder breccias and veins within the Gold Mountain
Project, that are suitable to open pit mining and heap leaching.
The Gold Mountain Project consists of eight exploration licences in the Tulasi
Basin, with a combined total area of 512km2. The Yelmand-Jinxi, Mayituobi and
Lion resources are located in the Gold Mountain tenement area, a single
exploration licence, covering an area of approximately 88.5km2. The southeast
corner of the licence is located immediately north of the Arxi Gold Mine. The
Arxi Mine reportedly had a resource of 21Mt at 5.8g/t Au (3.8M oz).
Plan for 2008
The Company's exploration and drilling in 2007 has delivered a significant
upgrade in the classification of the resources at Gold Mountain and has
identified higher grade feeder zones at Jinxi and possibly Yelmand. Further work
for 2008 will involve infill drilling to define the feeder structures and
complete the feasibility studies commenced in 2007 for a potential open pit and
heap leach mining operation. Several new prospects identified in 2007 will also
be drill tested.
Mr S Allnutt (MAusIMM and MAIG), Chief Geologist of Tianshan Goldfields Limited,
compiled the technical aspects of this report relating to the Gold Mountain
Project and content of this release. Mr Allnutt has sufficient experience that
is relevant to the style of mineralisation and type of deposit under
consideration and to the activity that is being reported on to qualify as a
Competent Person as defined in the 2004 Edition of the Australasian Code for
Reporting of Mineral Resources and Ore Reserves (the JORC Code). Mr Allnutt
consents to the inclusion in the report of the matters in the form and context
in which it appears.
The information in this report that relates to the Mineral Resource estimates is
based on information compiled by Mr D Pertel MSc , MAIG, of Micromine Pty Ltd.
Mr Pertel is a Member of The Australian Institute of Geoscientists and has
sufficient experience which is relevant to the style of mineralisation and type
of deposit under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2004 Edition of the '
Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves' (the JORC Code). Mr Pertel consents to the inclusion in the report
of the matters based on his information in the form and context in which they
appear.
Contact Information
Tianshan Goldfields Limited
Level 22, Allendale Square
77 St Georges Tce
Perth WA 6000
Ph: +61 8 9221 7729
Fax: +61 8 9221 7866
Keith Liddell - Chairman +44 20 7478 5133
Grant Thomas - Managing Director +61 8 9221 7729
Jason Bontempo - Chief Financial Officer +61 8 9221 7729
WH Ireland Limited
11 St James's Square
Manchester
M2 6WH
David Youngman/Katy Mitchell +44 161 832 2174
This information is provided by RNS
The company news service from the London Stock Exchange
END
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