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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| China Minerals Mining Corp | TSXV:CMV | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
Hot Features
Premium
China Minerals Mining Corporation (TSX VENTURE:CMV)(PINKSHEETS:HWTHF) ("China
Minerals" or the "Company") is pleased to announce results from 25 diamond drill
holes (identified as TA12-16 through TA12-40) from the Taurus Property of the
Cassiar Gold Project, British Columbia. The 2012 drilling program tested areas
peripheral to, as well as internal gaps in, the Taurus Gold Deposit ("Taurus").
Key points of these results include:
-- Holes TA12-16 and TA-19 intersected, respectively, 8.80 m at 5.05 g/t Au
and 19.00 m at 2.13 g/t Au outside previous eastern boundary of Taurus
deposit.
-- A high grade vein grading 8.77 g/t Au over 1.80 m in hole TA12-24
demonstrates that gold mineralization at the Sable Zone extends to the
south-east.
-- Wide gold intersections of 23.00 m grading 3.83 g/t Au and 10.45 m
grading 4.42 g/t Au in holes TA12-38 and TA12-40, respectively, show new
opportunity in the 88 Hill / Highway Gap.
The now completed drilling program comprised 6,857 m of drilling in 43 drill
holes at Taurus (initial 15 drill holes reported in a previous news release
dated September 18, 2012) and 10 drill holes totaling 1,340 m at the Sky Vein
prospect on the adjacent Table Mountain Property. Results for the final three
drill holes from Taurus and the 10 Sky Vein drill holes will be reported when
analytical data are fully received and interpreted.
The Taurus and Table Mountain Properties, which collectively comprise Cassiar
Gold Project ("Cassiar Gold"), are 100% owned by China Minerals. Cassiar Gold is
a large, 600 square kilometre property located in northwest B.C. Access to the
area is excellent since paved Highway 37 bisects the Project between Taurus and
Table Mountain. The Table Mountain Property contains a fully permitted gold mill
and tailings management facility which are available for potential future ore
processing.
The 25 drill holes reported herein targeted two areas: the eastern margin of the
Taurus Deposit at the Sable Zone and the 88 Hill / Highway Gap target. All holes
extended regions of known alteration and mineralization either down-dip within
internal gaps in the deposit, or outside previous boundaries of the Taurus
Deposit.
The Company's Chief Executive Officer, Ling Zhu, is pleased with the 2012
progress at Taurus. "With this program, we tested several open areas within the
Taurus Deposit and demonstrated that the footprint of alteration and
mineralization extends beyond the currently defined deposit."
Sable Zone
Drilling at the Sable Zone (Table 1) focused on defining the eastern, open edges
of the deposit. Most of the previous drilling at Sable was shallow so a
secondary objective of the 2012 drilling was to test down-dip of higher-grade
near-surface mineralization. The Sable Zone is dominated by a series of
west-northwest trending gold-bearing shear veins which - based on logging of
2012 and historic drill core - show very good along strike continuity.
Significantly, 2012 drill hole intercepts such as 5.05 g/t Au over 8.80 m
(TA12-16) and 2.34 g/t over 11.00 m (TA12-29) are from shear veins that occur up
to 60 m outside Taurus Deposit resource model.
The 2012 drilling also closed off the more northerly Sable shear veins but
adjacent structures appear to step left laterally in an en echelon fashion. As
such, mineralized intersections in drill holes to the south and east (such as
TA12-24 and TA12-28) demonstrate that the Sable Zone remains open to the south
and southeast.
Table 1. Drill Core Sample Results - Sable Zone
---------------------------------------------------------------------------
Weighted
Interval Average
Hole Number From (m) To (m) (m)(i) (g/t Au)
---------------------------------------------------------------------------
TA12-16 6.00 14.80 8.80 5.05
including 6.00 10.70 4.70 8.08
TA12-16 33.00 59.00 26.00 1.11
including 41.30 51.00 9.70 2.14
TA12-16 75.00 83.00 8.00 1.42
---------------------------------------------------------------------------
TA12-17 13.26 19.58 6.32 2.59
TA12-17 34.37 35.23 0.86 14.74
TA12-17 43.05 66.80 23.75 1.26
---------------------------------------------------------------------------
TA12-18 13.10 30.40 17.30 1.99
including 23.00 29.00 6.00 4.43
---------------------------------------------------------------------------
TA12-19 11.00 30.00 19.00 2.13
including 18.50 26.20 7.70 2.82
TA12-19 59.00 68.50 9.50 1.98
---------------------------------------------------------------------------
TA12-20 22.30 32.60 10.30 4.31
including 22.30 23.00 0.70 54.79
---------------------------------------------------------------------------
TA12-21 38.20 40.50 2.30 29.31
TA12-21 46.10 55.10 9.00 1.55
TA12-21 86.40 97.90 11.50 0.67
---------------------------------------------------------------------------
TA12-22 38.00 41.00 3.00 3.15
TA12-22 114.30 128.70 14.40 0.85
---------------------------------------------------------------------------
TA12-23 Hole failed to reach bedrock
---------------------------------------------------------------------------
TA12-24 32.00 33.80 1.80 8.77
---------------------------------------------------------------------------
TA12-25 99.50 129.95 30.45 0.69
including 117.70 122.66 4.96 2.58
---------------------------------------------------------------------------
TA12-26 13.65 17.25 3.60 1.18
---------------------------------------------------------------------------
TA12-27 46.00 66.30 20.30 1.32
including 47.30 49.40 2.10 4.04
including 62.30 66.30 4.00 3.71
TA12-27 125.00 130.00 5.00 12.23
including 128.00 128.95 0.95 61.40
---------------------------------------------------------------------------
TA12-28 27.40 41.70 14.30 0.87
including 36.00 41.70 5.70 1.62
---------------------------------------------------------------------------
TA12-29 91.84 102.84 11.00 2.34
120.90 134.30 13.40 0.98
---------------------------------------------------------------------------
TA12-30 5.79 11.30 5.51 2.89
---------------------------------------------------------------------------
(i) Reported drill intercept widths are approximately 65 to 80% of true
width.
88 Hill / Highway Gap
Drilling at the 88 Hill / Highway Gap met with mixed success. Drill holes in the
western part of the gap intersected narrow but higher-grade intercepts (e.g.
4.42 g/t Au over 10.45 m in TA12-40). Drill holes to the east, however,
typically intersected narrow altered zones with minor gold mineralization (e.g.
0.88 g/t Au over 10.85 m in TA12-37). Nonetheless, the 88 Hill / Highway Gap
drilling has shown that the Taurus alteration and mineralization system has
affected basalt in this gap area and since very few drill holes have targeted
this region, it has potential to contain mineralized zones.
Table 2. Drill Core Sample Results - 88 Hill / Highway Gap
---------------------------------------------------------------------------
Weighted
Interval Average
Hole Number From (m) To (m) (m)(i) (g/t Au)
---------------------------------------------------------------------------
TA12-31 47.30 49.40 2.10 0.94
---------------------------------------------------------------------------
TA12-32 5.00 42.70 37.70 0.66
TA12-32 54.30 57.90 3.60 2.75
TA12-32 70.85 75.20 4.35 2.02
---------------------------------------------------------------------------
TA12-33 No significant results
---------------------------------------------------------------------------
TA12-34 19.95 56.70 36.75 0.84
including 19.95 28.80 8.85 2.43
TA12-34 65.90 75.05 9.15 1.53
TA12-34 87.00 92.15 5.15 1.92
---------------------------------------------------------------------------
TA12-35 23.90 26.85 2.95 2.25
---------------------------------------------------------------------------
TA12-36 47.90 50.45 2.55 2.08
---------------------------------------------------------------------------
TA12-37 43.55 54.40 10.85 0.88
---------------------------------------------------------------------------
TA12-38 4.50 27.50 23.00 3.83
including 20.00 25.50 5.50 13.75
---------------------------------------------------------------------------
TA12-39 110.25 111.95 1.70 3.98
---------------------------------------------------------------------------
TA12-40 92.60 103.05 10.45 4.42
including 98.05 102.00 3.95 9.72
---------------------------------------------------------------------------
(i) Reported drill intercept widths are approximately 65 to 80% of true
width.
The 2012 Cassiar Gold field program was managed by Equity Exploration
Consultants Ltd. of Vancouver, B.C., and advised by consulting geologists David
Rhys, P.Geo., and B.H. Kahlert, P.Eng. Drilling was contracted to Apex Diamond
Drilling Ltd. of Smithers, B.C., who averaged 105 m coring per day.
About the Taurus gold deposit
The Taurus Gold Deposit is located within the northern part of the Cassiar Gold
Project. Taurus hosts an inferred resource of 1.06 million ounces of gold
comprising of 33.1 million tonnes at an average capped grade of 0.99 g/t Au
using a cut-off grade of 0.50 g/t Au. The resource is supported by a technical
report titled, "Updated Resource Report on the Taurus Project - Liard Mining
District, B.C.", dated March 11, 2009 and prepared by Thomas C. Stubens and
Marinus Andre de Ruijter of Wardrop Engineering Inc., which was filed at
www.sedar.com on March 18, 2009 and announced via news release dated March 19,
2009. No economic assessment has been completed on the Taurus resource and
consequently it has not demonstrated economic viability.
Quality Control
The Company's technical disclosure in this news release has been verified and
approved by Dr. Darcy Baker, Ph.D., P.Geo., an independent Qualified Person as
defined by National Instrument 43-101 and President of Equity Exploration
Consultants Ltd. Dr. Baker is a consultant to the Company and supervised the
2012 Cassiar Gold project exploration program.
Quality control procedures for the 2012 drilling program comprise systematic
insertion of blank and certified standard samples and quarter-core duplicate
samples into the drill core sample sequence. Samples were placed in sealed bags
and shipped directly to the ALS Minerals preparation facility in Terrace, B.C.,
prior to gold analysis by fire assay with atomic absorption finish and
multi-element analysis by ICP methods at the ALS Minerals laboratory in
Vancouver, B.C. For samples returning greater than 5.00 g/t Au, follow-up fire
assay analysis with gravimetric finish is completed while samples returning
greater than 10.00 g/t Au undergo check analysis by screen metallic fire assay.
Three samples returning greater than 10.00 g/t Au reported here have outstanding
screen metallic assays. In the unlikely case that these data vary significantly
from the gravimetric analyses, changes will be reported in a subsequent news
release.
About China Minerals Mining Corporation
China Minerals Mining Corporation is a Canadian based exploration and
development company with offices located in Vancouver, B.C., and Beijing, China.
China Minerals' ambition is to build an international mining company.
ON BEHALF OF THE BOARD OF DIRECTORS
Ling Zhu, Chief Executive Officer
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