APAC cuts gold at Nibao

Vancouver — APAC Minerals (APC-V) has intersected a new gold-bearing zone at its Nibao project in southwestern China.

Initial results from ongoing drilling show significant gold values associated with a newly discovered supergene enrichment zone with extension potential. Two core holes intersected gold in the near-surface Central zone, which remains open in at least two directions. Mineralization is hosted in lateritic clays, as well as oxidized and carbonaceous sandstones.

Significant drill intercepts include hole 25, which intersected 22 metres averaging 1.1 grams gold per tonne, including 4 metres of 2.59 grams gold and 4 metres of 1.78 grams, and hole 26, which returned 8 metres of 2.86 grams gold, including 6 metres grading 3.61 grams.

A reverse-circulation drill program also returned gold values. A vertical hole, RC 50, was drilled to test the deeper, sulphide mineralization in the Emeishan zone; it returned 12 metres grading 2.71 grams gold at a down-hole depth of 32 metres, including 4 metres of 7.07 grams. The gold is associated with pyrite-arsenopyrite-mineralized Emeishan sandstones, which have been cut by high-angle quartz-sulphide veins with fuchsitic alteration.

Additional work resulted in the discovery of high-grade gold in a dolerite sill. The Mayday zone is an altered dolerite intrusive that has mineralization associated with stockwork and high-angle quartz-sulphide-kaolin veining. Channel sampling re-turned 4 metres grading 26.39 grams gold at the footwall contact of the dolerite sill and the sulphidic Emeishan sandstone.

The high-grade nature of the Mayday zone makes it an attractive target for local artisanal miners. APAC is pursuing legal avenues to stop the activity.

Gold at Nibao occurs predominantly as Carlin-type, sub-micron, sediment-hosted oxide and sulphide mineralization. Exploration is continuing, and APAC plans to add another diamond drill rig to expedite the program.

The Nibao gold project consists of 42 sq. km in western Guizhou province, which is in southern China. APAC can earn up to 84% of the project by spending US$2 million over three years and bringing it to the development stage through a positive feasibility study.