The company has so far sunk 3,830 metres, or 23 holes, as part of a 13,000-metre program of core drilling at the past-producing Jinlonggou and Qinlongtan deposits, which are 26 km apart.
Partial results from the first four holes are highlighted by a 21-metre interval (beginning at 79.7 metres below surface) grading 13.6 grams gold per tonne in hole 68. A 5.3-metre section (from 119.5 metres) lower in the hole grades 6.6 grams gold.
Results from the remaining holes include:
— hole 65 — 1.9 metres (from 140.7 metres) of 2.15 grams gold and 6.1 metres (from 148.4 metres) grading 6.3 grams gold;
Holes 67 and 69 were collared at the northern end of the deposit; holes 65 and 68, at the southern end. The drilling targeted north-south-oriented faults and sub-horizontal diorite sills on the eastern side of the deposit.
The results, along with those from holes 70, 75, 81, 82 and 83 (not yet reported), have traced the new mineralized zones from the main Jinlonggou deposit to the Pubugou satellite deposit. Further drilling is planned.
Afcan pegs Jinlonggou’s indicated resource at 2.3 million tonnes grading 5.23 grams gold per tonne; an additional 1.1 million tonnes of 4.9 grams gold are inferred (T.N.M., May 17-23/04). Qinlongtan has an indicated resource of 772,400 tonnes grading 7.49 grams gold, plus 1.1 million tonnes at 4.9 grams inferred. Both estimates are based on a cutoff grade of 1 gram gold per tonne.
Elsewhere on the 340-sq.-km property, Afcan is preparing to drill 2,000 metres in an effort to test a few of the 25 gold prospects delineated so far.
Afcan can earn an 85% interest in Tanjianshan through Qinghai Dachaidan Mining.
A prefeasibility study in late 2002 called for construction of an underground mine capable of producing 70,000 oz. gold per year over six years.
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