Minco drills Gobi project (September 08, 2003)

Vancouver — Minco Mining and Metals (MMM-V) recently kicked off a drill program on its Gobi gold project and continues to explore its BYC project in China.

At the Gobi gold project in Inner Mongolia, the junior has completed a detailed induced polarization (IP) survey in order to better define drill targets. Minco is attempting to find the extensions of feeder zones to gold mineralizing systems it tested last year. Several strong IP anomalies have been identified coincident with three magnetic anomalies.

Minco reports that it is now in the midst of a second-phase, 2,000-metre drill program at Gobi. Last year’s drill program extended mineralization exposed in the Discovery Pit (14.89 grams gold over 9 meters) by 500 metres to the south-west. The current drill program will focus on the north-south trending mineralization in the feeder zone, which connects the Discovery Pit mineralization with the Chinese-operated open-pit mine to the north. Initial drill results are expected in late September.

At the BYC gold project, also located in Inner Mongolia, Minco is conducting a surface exploration program consisting of geological mapping and check sampling. The property hosts over 100 shear-hosted gold showings in four distinct zones that span a strike length of 12 km. Grades vary from 1.2 grams gold to 71.0 grams gold per tonne.

Minco states that drill targets will be selected next month. The junior has the right to earn a 75% interest in this project by spending $2.4 million over 4 years.