Inter-Citic Minerals Inc.
TSX : ICI

Inter-Citic Minerals Inc.

April 22, 2010 08:23 ET

Inter-Citic Releases Drill Hole Results from Dachang Gold Project

Results Include 34.6 Metres Averaging 3.2 GPT Gold and 10.5 Metres Averaging 7.52 GPT Gold. Exploration Holes Include 14.3 Metres Averaging 2.29 GPT Gold

TORONTO, ONTARIO--(Marketwire - April 22, 2010) - Inter-Citic Minerals Inc. (TSX:ICI) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report the final set of results received from the Company's 2009 diamond drill program at its Dachang Gold Project in China.

The results reported in this press release are both infill and step out drill holes from the Dachang Main Zone ("DMZ") area, as well as exploration holes on other parts of the property.

"We are very pleased with the consistency of the results from our 2009 infill drill program on the part of the Dachang Main Zone that hosts our current inferred mineral resource estimate," said Garth Pierce, VP Exploration of Inter-Citic Minerals Inc. "This infill drilling appears to have confirmed earlier estimates although detailed modeling is still underway. Outside of the main resource area initial testing of new targets is very preliminary but also very promising. We look forward to being able to update the Company's mineral resource estimate in both the main resource and exploration areas in the coming months."

Drilling results highlights include: 

  • Drill hole CJV-795 is an infill drill hole on the DMZ and intersected multiple mineralized zones, including 8.40 metres of mineralization averaging 5.97 GPT contained gold.
  • Drill hole CJV-818 is an infill drill hole on the DMZ and intersected multiple mineralized zones, including 34.6 metres of mineralization averaging 3.2 GPT contained gold.
  • Drill hole CJV-840 is an infill drill hole on the DMZ and intersected multiple mineralized zones, including 22.0 metres of mineralization averaging 2.25 GPT contained gold.
  • Exploration drill hole CJV-868 intersected multiple mineralized zones, including 14.30 metres of mineralization averaging 2.29 GPT contained gold.
  • Drill hole CJV-901 is an infill drill hole on the DMZ and intersected a mineralized zone of 10.50 metres of mineralization averaging 7.52 GPT contained gold.
  • Drill hole CJV-910 is an infill drill hole on the DMZ and intersected multiple mineralized zones, including 8.5 metres of mineralization averaging 8.34 GPT contained gold
Detailed drilling results are set out in the chart below:
                 
DDH Hole No. Zone Section Line Dip Azimuth From To Length Au g/t
                 
CJV-782 DMZ 350E -72 20 24.70 25.70 1.00 2.65
          32.50 36.50 4.00 5.36
          39.50 40.50 1.00 1.81
          64.50 65.50 1.00 0.58
          80.50 81.50 1.00 0.74
          106.20 107.50 1.30 2.04
CJV-784 DMZ 2375 -76 20 122.30 124.30 2.00 2.22
CJV-785 DMZ 5900 -87 20 19.50 20.50 1.00 0.73
          83.80 84.90 1.10 0.94
          130.50 131.50 1.00 2.61
CJV-790 DMZ 350 -50 20 20.00 21.00 1.00 0.73
CJV-791 DMZ 930 -60 20 18.80 19.80 1.00 0.72
          28.00 29.50 1.50 1.17
          59.00 62.20 3.20 2.65
          69.70 72.00 2.30 1.16
          74.20 76.30 2.10 2.90
          82.80 83.80 1.00 0.60
          87.20 89.70 2.50 0.64
CJV-792 DMZ 350 -88 20 28.60 30.30 1.70 9.16
          32.60 33.60 1.00 1.80
          38.30 39.30 1.00 3.31
          43.40 48.40 5.00 3.85
          64.80 66.10 1.30 1.71
          72.20 74.20 2.00 2.30
          78.40 81.70 3.30 0.90
          109.50 110.50 1.00 0.70
CJV-793 DMZ 930 -88 20 113.50 114.50 1.00 2.10
          120.50 121.60 1.10 1.72
CJV-794 DMZ 350 -50 20 21.50 23.00 1.50 0.62
          53.00 55.80 2.80 1.86
          79.40 80.60 1.20 1.87
CJV-795 DMZ 2375 -76 20 57.40 59.40 2.00 1.18
          62.80 64.00 1.20 0.85
          84.30 85.30 1.00 0.62
          91.50 92.70 1.20 1.15
          95.60 96.60 1.00 1.54
          100.50 102.50 2.00 1.99
          112.40 120.80 8.40 5.97
          139.30 142.30 3.00 1.61
CJV-796 DMZ 930 -50 20 24.60 25.80 1.20 1.36
          31.50 32.50 1.00 1.29
          37.50 39.50 2.00 1.14
          42.50 43.50 1.00 1.00
          51.90 56.00 4.10 0.68
          84.30 85.50 1.20 14.30
          88.00 89.00 1.00 1.72
CJV-797 DMZ 350 -62 20 28.65 31.40 2.75 3.37
          78.65 79.65 1.00 1.28
          85.00 87.30 2.30 4.79
          97.00 98.00 1.00 1.56
          111.00 113.00 2.00 1.00
CJV-798 DMZ 75E -50 20 31.70 32.70 1.00 0.67
          33.70 34.70 1.00 0.62
          39.00 40.50 1.50 0.73
CJV-799 DMZ 930 -88 20 13.50 14.50 1.00 0.57
          34.10 35.40 1.30 3.02
          87.50 90.00 2.50 1.32
CJV-810 DMZ 75E -50 20 20.70 21.70 1.00 0.97
          27.80 29.30 1.50 0.86
          42.90 44.90 2.00 0.56
          48.00 57.00 9.00 2.63
          65.50 66.50 1.00 0.71
          77.00 80.00 3.00 2.12
CJV-811 DMZ   -88 20 26.65 29.65 3.00 0.55
          115.00 118.00 3.00 0.58
CJV-812 DMZ 1600 -50 20 11.60 13.80 2.20 2.40
CJV-813 DMZ 75E -59 20 13.00 17.00 4.00 8.72
          22.50 24.00 1.50 1.61
          27.30 31.30 4.00 1.10
          39.00 40.20 1.20 0.63
          59.30 63.00 3.70 0.94
          68.00 69.00 1.00 0.65
          72.70 73.80 1.10 5.54
          84.70 86.00 1.30 0.72
          95.50 96.50 1.00 0.55
CJV-815 DMZ 625E -50 20 18.50 19.50 1.00 13.50
          31.40 32.70 1.30 1.38
CJV-816 DMZ 550 -60 20 6.00 10.30 4.30 0.77
          47.00 49.00 2.00 4.54
CJV-817 DMZ 75E -50 20 11.15 13.15 2.00 2.34
          41.00 44.00 3.00 6.86
          93.00 94.00 1.00 3.57
          107.50 111.50 4.00 0.79
CJV-818 DMZ 625E -50 20 27.00 61.60 34.60 3.20
          79.00 81.00 2.00 1.75
CJV-819 DMZ 550 -50 20 16.20 17.50 1.30 0.68
          21.00 22.00 1.00 1.28
          91.00 95.50 4.50 3.99
CJV-824 DMZ 11400 -80 20 91.00 92.00 1.00 2.67
          146.00 147.50 1.50 1.05
          165.00 166.00 1.00 1.50
CJV-825 DMZ 11400 -45 20 17.20 18.20 1.00 0.87
CJV-826 DMZ 11600 -50 20 13.80 19.80 6.00 9.29
          28.30 31.30 3.00 6.36
CJV-828 DMZ 11900 -50 20 20.00 22.60 2.60 3.87
          43.00 49.00 6.00 4.08
          52.00 53.50 1.50 0.53
          55.00 56.00 1.00 0.80
          63.00 65.50 2.50 1.57
          68.00 71.50 3.50 2.30
          80.00 89.00 9.00 1.95
CJV-830 DMZ 1700 -50 20 77.00 84.20 7.20 2.19
          88.20 93.20 5.00 0.79
          97.20 98.20 1.00 2.68
          100.80 101.80 1.00 2.04
CJV-831 DMZ 75E -77 20 37.50 39.50 2.00 2.69
          45.50 46.50 1.00 1.37
          71.00 72.00 1.00 0.78
          75.00 81.00 6.00 6.02
          84.00 85.00 1.00 1.04
          92.00 93.00 1.00 0.69
          105.00 114.00 9.00 0.97
          116.50 117.50 1.00 1.16
          128.00 129.00 1.00 0.66
          134.00 135.30 1.30 0.54
CJV-832 DMZ 625E -50 20 28.65 29.15 0.50 1.30
          43.65 47.80 4.15 0.60
          51.00 52.00 1.00 1.72
          56.00 62.00 6.00 1.28
          64.50 65.15 0.65 1.00
          78.50 89.00 10.50 1.44
          110.86 111.86 1.00 1.10
CJV-834 DMZ 550 -88 20 26.00 29.50 3.50 1.28
          34.50 38.80 4.30 2.10
          88.60 89.80 1.20 0.56
          118.00 119.00 1.00 0.74
CJV-835 DMZ 550 -62 20 72.90 73.90 1.00 0.50
          77.00 83.00 6.00 4.29
          103.50 104.60 1.10 1.20
          116.50 119.10 2.60 0.72
CJV-837 DMZ 12000 -45 20 8.20 13.40 5.20 2.21
          20.20 22.20 2.00 0.80
CJV-838 DMZ 12500 -50 26.25 12.00 14.00 2.00 1.59
          20.40 21.50 1.10 4.79
CJV-839 DMZ 625E -75 20 43.50 48.50 5.00 1.03
          53.50 56.50 3.00 1.81
          62.50 64.50 2.00 1.18
          69.50 70.50 1.00 0.65
          85.80 90.80 5.00 0.97
          96.80 99.00 2.20 3.34
          104.00 107.00 3.00 1.64
CJV-840 DMZ 11900 -50 20 3.00 5.20 2.20 7.43
          10.20 15.20 5.00 3.44
          19.20 20.70 1.50 0.59
          24.50 32.50 8.00 2.20
          38.00 60.00 22.00 2.25
CJV-850 DMZ 13050 -50 20 1.50 4.50 3.00 2.14
          10.50 12.00 1.50 8.54
          32.00 40.20 8.20 1.96
CJV-851 DMZ 1230E -50 24 52.50 60.90 8.40 6.22
          71.20 73.20 2.00 1.78
CJV-852 DMZ 13050 -50 20 9.30 10.50 1.20 1.61
          26.40 27.70 1.30 0.53
          38.00 44.00 6.00 1.90
          47.00 49.20 2.20 1.18
          53.50 55.00 1.50 0.63
CJV-853 DMZ 550 -88 20 7.00 11.70 4.70 1.46
CJV-853         74.50 75.50 1.00 1.07
          95.70 96.70 1.00 0.81
          136.90 137.90 1.00 1.19
CJV-854 DMZ 13350 -50 20 31.50 33.00 1.50 4.79
          35.50 37.00 1.50 3.80
          39.10 40.50 1.40 1.82
          59.80 64.00 4.20 1.48
          71.60 73.60 2.00 2.00
          76.60 77.60 1.00 0.92
CJV-856 DMZ 625E -78 20 65.30 66.65 1.35 1.55
          88.65 89.65 1.00 0.50
          100.20 101.20 1.00 0.68
          109.60 110.60 1.00 1.18
          112.60 113.60 1.00 0.52
          129.70 130.70 1.00 2.05
          134.70 135.70 1.00 1.13
          138.40 140.40 2.00 1.30
CJV-857 DMZ 13350 -70 20 32.50 39.00 6.50 2.91
          79.00 80.00 1.00 1.38
          91.50 93.80 2.30 4.65
          97.00 99.70 2.70 1.81
CJV-858 DMZ 1560E -50 20 12.40 15.50 3.10 5.25
          32.50 34.00 1.50 0.71
          36.50 38.00 1.50 1.50
          42.50 45.50 3.00 4.14
          49.50 50.50 1.00 0.53
          58.00 59.00 1.00 1.82
CJV-859 DMZ 75E -77 20 40.00 41.00 1.00 0.56
          57.60 58.60 1.00 0.63
          68.10 69.10 1.00 0.74
          112.30 113.70 1.40 1.38
          122.00 126.30 4.30 0.71
          135.80 136.80 1.00 1.30
CJV-860 DMZ 3730E -50 20 32.00 33.10 1.10 1.98
          40.60 41.70 1.10 0.65
          43.70 47.70 4.00 0.60
          51.80 56.20 4.40 0.56
          67.90 68.90 1.00 0.54
          85.90 92.10 6.20 1.26
CJV-861 XPLOR   -90 - 75.30 84.80 9.50 2.38
          89.00 92.00 3.00 10.05
CJV-864 XPLOR   -70 12 41.15 42.15 1.00 1.11
          83.00 84.00 1.00 1.02
CJV-865 XPLOR   -82 20 119.70 120.70 1.00 0.65
CJV-867 XPLOR   -50 20 17.20 24.00 6.80 1.28
          51.00 56.00 5.00 0.97
          59.50 60.90 1.40 1.71
          68.50 70.50 2.00 0.59
          101.80 102.80 1.00 0.58
          138.40 139.40 1.00 1.87
          153.00 154.00 1.00 1.12
CJV-868 XPLOR   -70 20 36.00 40.50 4.50 1.40
          52.50 66.80 14.30 2.29
CJV-869 XPLOR   -50 20 16.75 21.00 4.25 1.22
          85.50 87.50 2.00 1.42
          90.50 91.50 1.00 0.58
CJV-870 DMZ 1900E -66 20 51.50 56.00 4.50 4.06
          80.70 82.20 1.50 2.57
CJV-871 DMZ 2060E -50 20 32.50 33.50 1.00 1.55
CJV-872A DMZ 13350 -72 20 8.00 9.00 1.00 0.70
          12.40 13.40 1.00 0.67
CJV-873 DMZ 2220E -82 20 62.65 67.20 4.55 6.47
          97.30 100.30 3.00 1.33
          107.10 110.20 3.10 8.53
CJV-874 DMZ 13050 -80 20 11.20 19.50 8.30 2.94
          25.00 26.00 1.00 0.55
          39.50 40.50 1.00 0.59
          44.70 45.70 1.00 1.07
          51.20 59.70 8.50 3.24
          63.00 67.00 4.00 1.81
          80.00 81.00 1.00 1.03
CJV-875 DMZ 2060E -50 20 25.20 26.80 1.60 0.84
          45.60 46.60 1.00 0.62
CJV-876 DMZ 2730E -45 20 38.70 39.70 1.00 1.11
          60.00 61.20 1.20 0.54
CJV-877A DMZ 13050 -63 20 45.00 46.50 1.50 1.07
          65.00 70.00 5.00 2.26
          78.00 79.00 1.00 1.33
          95.00 103.00 8.00 2.71
          105.80 111.80 6.00 2.92
          117.30 121.00 3.70 2.98
CJV-878 DMZ 14100 -50 20 22.60 27.60 5.00 1.33
          40.20 41.50 1.30 1.56
CJV-879 DMZ 14100 -75 20 30.40 34.60 4.20 2.25
          59.70 60.80 1.10 0.67
          63.80 68.50 4.70 1.12
CJV-884 DMZ 13050 -82 20 66.70 67.70 1.00 1.23
          71.00 72.00 1.00 0.82
CJV-886 DMZ 14500 -45 20 28.00 29.60 1.60 1.43
          42.50 48.30 5.80 8.01
CJV-887 DMZ 13700 -50 20 19.30 23.50 4.20 2.95
          26.00 31.90 5.90 1.29
          34.50 40.50 6.00 4.01
CJV-888 DMZ 13050 -62 20 90.20 91.00 0.80 1.61
          129.90 139.30 9.40 0.91
          143.45 144.45 1.00 1.15
          147.50 161.70 14.20 1.41
          164.70 170.20 5.50 1.45
CJV-889 DMZ 14500 -70 20 37.60 38.60 1.00 0.53
          51.00 54.20 3.20 1.10
CJV-891 DMZ 13700 -82 20 65.00 84.00 19.00 1.63
          87.00 89.10 2.10 2.06
CJV-892 DMZ 3730E -88 20 33.00 44.00 11.00 0.73
          54.00 55.00 1.00 2.23
          60.00 62.00 2.00 0.91
          71.50 72.00 0.50 0.66
          76.00 80.20 4.20 1.14
CJV-893 DMZ 14500 -89 20 59.10 60.10 1.00 0.92
          62.30 66.50 4.20 1.28
          104.20 112.20 8.00 3.34
          117.70 118.50 0.80 1.85
CJV-895 DMZ 13700 -70 20 43.00 49.40 6.40 3.51
          82.00 83.50 1.50 0.55
          97.00 99.00 2.00 3.12
          107.30 110.80 3.50 1.30
          117.00 117.90 0.90 3.33
CJV-896 DMZ 4275E -45 20 34.50 35.50 1.00 1.07
          69.00 70.00 1.00 0.64
CJV-897 DMZ 13350 -61 20 74.10 75.10 1.00 1.33
          83.30 84.50 1.20 0.84
          103.60 104.40 0.80 2.78
          117.00 118.50 1.50 0.57
          130.00 131.00 1.00 3.30
          134.50 135.80 1.30 0.92
          154.10 162.70 8.60 2.48
CJV-898 DMZ 14500 -70 20 34.80 37.20 2.40 3.80
          42.50 45.50 3.00 1.23
          104.70 106.60 1.90 4.32
          109.00 110.80 1.80 1.98
          143.50 144.50 1.00 0.73
          147.50 150.50 3.00 1.06
CJV-899 DMZ 3750E -65 20 65.00 66.00 1.00 0.51
          97.00 98.00 1.00 0.65
CJV-900 DMZ 13700 -89 20 49.40 58.40 9.00 3.87
          96.00 97.00 1.00 1.95
          134.50 136.00 1.50 1.69
          138.50 139.60 1.10 0.66
          153.00 154.50 1.50 0.69
CJV-901 DMZ 14700 45 20 48.00 58.50 10.50 7.52
CJV-902 DMZ 14700 -76 20 39.30 40.30 1.00 1.14
          59.30 60.50 1.20 1.77
          96.40 97.70 1.30 0.78
CJV-903 DMZ 15500 -70 20 87.10 88.10 1.00 0.98
          116.70 117.70 1.00 1.42
          120.70 122.70 2.00 2.48
          137.70 139.00 1.30 0.70
          141.50 146.50 5.00 4.59
CJV-904 DMZ 14700 -89 20 69.90 73.20 3.30 2.24
          115.30 122.30 7.00 1.58
          127.60 128.80 1.20 1.06
CJV-906 DMZ 15500 -45 20 37.00 39.00 2.00 2.45
          62.20 65.50 3.30 5.38
          76.50 77.40 0.90 1.80
CJV-907A DMZ 4275E -50 20 73.50 74.70 1.20 0.98
CJV-908 DMZ 15100 -76 20 13.40 14.00 0.60 1.47
          37.80 38.80 1.00 1.19
          51.00 51.80 0.80 2.22
          62.50 63.50 1.00 1.11
          67.50 68.50 1.00 1.01
CJV-909 DMZ 15500 -72 20 73.80 75.20 1.40 1.23
          79.00 82.90 3.90 1.76
CJV-910 DMZ 14700 -77 20 15.60 17.10 1.50 0.96
          34.50 35.50 1.00 0.81
          81.00 82.00 1.00 1.45
          121.50 122.50 1.00 2.27
          142.00 150.50 8.50 8.34
CJV-911 DMZ 4400E -45 20 117.60 118.40 0.80 0.64
          142.00 144.40 2.40 1.11
CJV-913 DMZ 15500 -89 20 46.00 47.00 1.00 0.98
          78.90 93.00 14.10 1.74
          107.40 110.50 3.10 0.61
CJV-915 DMZ 16100 -45 20 54.20 55.30 1.10 1.19
CJV-916 DMZ 15300 -45 20 51.40 56.40 5.00 3.76
          63.40 66.50 3.10 1.57
CJV-918 DMZ 16100 -82 20 62.50 63.50 1.00 0.95
          89.30 94.00 4.70 1.71
          98.80 104.00 5.20 1.80
          111.60 114.60 3.00 2.66
          117.00 120.00 3.00 3.73
CJV-919 DMZ 15300 -70 20 38.00 40.50 2.50 1.99
          53.30 55.00 1.70 6.99
          59.00 61.50 2.50 5.82
          73.00 74.00 1.00 1.16
          83.00 84.00 1.00 4.76
CJV-921 DMZ 15300 -88 20 60.50 61.50 1.00 0.98
          67.00 68.00 1.00 1.72
          71.50 76.50 5.00 2.39
          79.50 80.50 1.00 0.74
          113.70 116.80 3.10 2.22
          119.00 120.00 1.00 2.18
CJV-922 XPLOR   -58 200 29.00 32.00 3.00 1.52
          36.50 41.00 4.50 2.16
   
  "XPLOR" Indicates an exploration hole outside of the previously defined resource areas. All other drill holes are infill.
 
  Assay cut-off for the above table was at 0.5 gpt Au, however, intervals were determined by geological interpretation of consistent mineralized zones. Broader intervals may include waste intervals of up to 2m. There was no evidence of nugget effect in the above results and none were topcut.True widths for the intervals above have yet to be determined.

Infill holes are primarily testing continuity of the Company's existing NI 43-101-compliant inferred resource areas on the Dachang Main Zone and Placer Valley Zone. Infill drilling is also a required step towards applying for a Chinese mining permit.

A visual representation of the location of the drill holes in this release can be seen at: http://www.corebox.net/properties/dachang/ or as a map on the Company's website. A location map is available on the Company's website at: http://www.inter-citic.com/maps.htm.

Sample Methodology:

Drill core samples were taken at geologically significant intervals, typically over one metre. Core recovery was approximately 90%. The designated sample intervals were cut with a diamond saw by qualified technicians. One half of the cut core was selected for assay with the remaining half being placed back into the core box. Care was taken to ensure that neither half of the core represents a bias with respect to the nature and mineral content of the sample. The sample interval and methodology are consistent with industry standards. Drill core samples were shipped to SGS Geochemical Laboratories ("SGS") located in Kunming and Tianjin, China for sample preparation and 50g fire assay with AA finish. SGS is the world's leading inspection, verification, testing and certification company. Analytical work is performed in accordance with recognized standards such as ASTM, ISO, JIS, and other accepted industry standards. Accuracy of the results is tested through the systematic inclusion of reference samples and duplicate samples.

Security of Samples: All of the samples collected at Dachang are stored in a restricted secure storage area. Samples are shipped by truck to Golmud and delivered to Inter-Citic's courier agent in Golmud for shipment to the various laboratories for analysis. Inter-Citic's courier agents are present at all transshipment points between Golmud and the laboratories. Exploration at Dachang was conducted with the assistance of the numerous professionals from the Qinghai Geological Survey Institute, working in co-operation with Inter-Citic's technical team on site and supervised by Mr. Garth Pierce, Vice-President of Exploration.

Mr. Gerald Bidwell, P.Geo., the Company's internal Qualified Person under the requirements of National Instrument 43-101, has reviewed the results reported in this press release.

Mr. B. Terrence Hennessey, P.Geo., of Micon International Limited is a Qualified Person under the requirements of National Instrument 43-101 and has reviewed a copy of this press release.

On Behalf of the Board:

James J. Moore, President & CEO

ABOUT INTER-CITIC:

Toronto-based Inter-Citic Minerals Inc. is an exploration and development company with property in the People's Republic of China, including its Dachang Gold Project in Qinghai Province. Inter-Citic is listed on the TSX under the symbol ICI. Inter-Citic's website is www.inter-citic.com.

Investors are encouraged to review "Risk Factors" associated with the Dachang project as outlined in the Company's 2009 Financial Statements and Annual Information Form, along with updates, available on the SEDAR website at www.sedar.com. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information