Inter-Citic Minerals Inc.
TSX : ICI

Inter-Citic Minerals Inc.

December 14, 2009 08:55 ET

Inter-Citic Releases Drill Holes and Trench Results From Dachang Gold Project

Results Include Drill Hole On Placer Valley, South Of The Dachang Main Zone, Reporting 9.1 Metres Assaying 3.58 GPT Gold. Step-out trenching southeast of the DMZ uncovers multiple new areas of near surface gold mineralization including 15.0 m of 5.17 GPT, 10.0 m of 3.47 GPT and 13.0m of 3.14 GPT Au.

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2009) - Inter-Citic Minerals Inc. (TSX:ICI) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report new results received from the Company's 2009 diamond drill and trenching program at its Dachang Gold Project in China.

"Results from the Dachang Main Zone continue to return consistently positive results," said James Moore, President and CEO of Inter-Citic. "We are particularly pleased that results from the Placer Valley Zone, about a kilometre south of the Dachang Main Zone, are also increasingly defining a strongly mineralized structure there as well. Step-out trenching continues to discover and define new zones of gold mineralization."

Drilling results highlights include: 

  • Drill hole CJV-762 is an infill drill hole on the Dachang Main Zone ("DMZ"), and intersected multiple mineralized zones, including 3.20 metres of mineralization averaging 5.39 GPT contained gold and an additional interval reporting 6.30 metres of mineralization averaging 4.48 GPT contained gold.
  • Drill hole CJV-767 is an infill drill hole on the Pacer Valley Zone ("PVZ"), and intersected multiple mineralized zones, including 4.00 metres of mineralization averaging 4.68 GPT contained gold.
  • Drill hole CJV-770 is an infill drill hole on the DMZ, and intersected multiple mineralized zones, including 4.00 metres of mineralization averaging 3.57 GPT contained gold and an additional interval reporting 3.20 metres of mineralization averaging 6.45 GPT contained gold.
  • Drill hole CJV-774 is a drill hole on the PVZ, and intersected mineralized zones, including 9.10 metres of mineralization averaging 3.58 GPT contained gold.

Detailed drilling results are set out in the chart below:

DDH Hole No. Zone Section Line Dip Azimuth From To Length GPT
Au
                 
CJV-762 DMZ 5900 -54 20 131.30 132.40 1.10 2.30
          142.50 143.50 1.00 2.86
          146.20 148.20 2.00 4.47
          150.50 152.00 1.50 0.73
          154.20 158.30 4.10 1.50
          170.70 173.90 3.20 5.39
          176.40 182.70 6.30 4.48
                 
CJV-763 PVZ 2900 -75 20 18.00 19.00 1.00 0.51
          29.10 35.20 6.10 1.51
          40.70 42.00 1.30 3.25
                 
CJV-764 PVZ 3500 -50 20 28.00 29.00 1.00 0.68
          33.00 36.00 3.00 2.79
                 
CJV-765 DMZ 6900 -50 20 39.10 40.10 1.00 1.28
                 
CJV-766 no significant assays        
                 
CJV-767 PVZ 3500 -45 20 7.00 8.00 1.00 13.00
          11.40 13.40 2.00 2.61
          20.00 24.00 4.00 4.68
                 
CJV-768 PVZ 3500 -45 20 6.40 7.40 1.00 0.82
          8.90 10.20 1.30 0.53
                 
CJV-769 PVZ 3900 -50 20 24.00 25.00 1.00 0.87
          39.20 41.60 2.40 0.55
          53.50 54.50 1.00 1.30
                 
CJV-770 DMZ 6700 -45 20 31.20 35.20 4.00 3.57
          38.20 41.40 3.20 6.45
          44.40 45.40 1.00 0.91
                 
CJV-772 PVZ 2900 -50 20 20.30 21.60 1.30 5.83
          24.80 25.80 1.00 1.00
          83.60 84.60 1.00 0.74
          97.40 98.40 1.00 1.98
                 
CJV-773 PVZ 3500 -46 20 17.20 18.20 1.00 0.95
                 
CJV-774 PVZ 4150 -45 20 2.10 11.20 9.10 3.58
          24.00 26.00 2.00 1.67
                 
CJV-775 DMZ 100 -76 20 23.70 29.70 6.00 1.14
                 
CJV-776 PVZ 4500 -50 20 6.00 7.00 1.00 1.31
          33.00 34.00 1.00 0.95
          38.00 43.00 5.00 0.53
                 
CJV-778 DMZ 7100 -80 20 33.80 34.80 1.00 1.51
          82.30 83.40 1.10 4.42
          90.10 92.10 2.00 6.29
                 
CJV-778A DMZ 7100 -80 20 82.00 83.00 1.00 0.82
          91.40 92.70 1.30 1.40
          122.00 124.30 2.30 1.39
                 
CJV-779 DMZ 2700 -88 20 27.20 28.20 1.00 1.01
          75.00 77.30 2.30 3.22
                 
CJV-786 PVZ 2300 -45 20 15.00 18.50 3.50 1.29
          39.50 41.00 1.50 0.56
          42.00 43.00 1.00 0.78
          45.50 47.00 1.50 1.48

DMZ: Dachang Main Zone – A continuous approximately 4 km long zone of mineralization that includes the original 2km long zone of mineralization defined by the 2006 DDH program and the Dachang Main Zone Extension (originally called the DMZ-X) that extends off the eastern end of the DMZ as defined by the 2007 and 2008 DDH programs.

PVZ: Placer Valley Zone – A south dipping mineralized fault 1 km south of the DMZ.
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.

Further results from in-fill drilling as well as step-out exploration drilling will be reported as they are received and compiled.

Infill holes are primarily testing continuity of the Company's existing NI 43-101-compliant inferred resource area on the eastern extent of the total 4 km extent of the Dachang Main 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 showing drill hole locations is available on the Company's website at: http://www.inter-citic.com/maps.htm.

Trench Results:

As infill drilling proceeds on the main DMZ deposit to advance that resource to permitting and development, the company has continued its regional exploration program, Two backhoes continued to test the many untested soil geochem anomalies on lands adjacent to the DMZ and PVZ prospects late into the fall program. This work has recently uncovered several broad new areas of gold mineralization as outlined below. This work has also been able to expand the potential of the recent discovery of a mineralized fault zone (the "861 Fault") reported in a press release dated December 1, 2009, with step-out trenches either side of hole CJV-861. New areas of mineralization have also been discovered by trenching south and east of the Dachang Main Zone resource on the Placer Valley Extension and on the South East Anomaly ("SEA") in the extreme south-eastern corner of the property. Most of the newly discovered zones have been trenched on 40m to 80m intervals along their strike length and are now ready for drill testing. The Company was able to drill test a few of these many targets late in November and results are pending. A map showing these new areas of discovery is available on the Company's website at: www.inter-citic.com.

Below is a table of significant trench results:

Trench From To Meters Au (g/t)
Middle Zone
TC0405 22.00 36.00 14.00 1.26
32m (total of intervals) 87.00 96.00 9.00 1.64
  100.50 109.50 9.00 2.33
TC1605 21.00 24.00 3.00 1.18
9m 27.00 33.00 6.00 2.27
TC4205 11.00 21.00 10.00 1.83
Placer Valley Eastern Extension
TC0406 176.00 179.00 3.00 1.03
7m 259.00 263.00 4.00 3.26
TC0501 65.00 80.00 15.00 5.18
51m 112.00 118.00 6.00 3.53
  129.00 132.00 3.00 2.91
  162.00 163.00 1.00 4.72
  191.00 194.00 3.00 3.35
  203.00 217.00 14.00 2.24
  225.00 234.00 9.00 2.41
TC1504 * 49.00 51.00 2.00 21.12
(*Top cut as it includes an assay over 40 GPT.
Uncut value is 32.27 GPT Au)
TC2605 52.00 62.00 10.00 3.47
12m 225.00 227.00 2.00 2.25
TC3805 144.50 146.50 2.00 1.62
10m 13.00 15.00 2.00 3.58
  44.00 50.00 6.00 1.64
TC5004 143.00 146.00 3.00 13.42
TC8401 36.70 44.30 7.60 1.72
TC9001 38.50 47.00 8.50 3.39
10.5m 82.50 84.50 2.00 3.55
Placer Valley South-Eastern Extension
TC4010 64.30 68.00 3.70 2.77
21.7m 147.50 152.50 5.00 3.72
  160.50 173.50 13.00 3.14
TC4609 14.00 16.00 2.00 2.23
9.7m 27.50 30.50 3.00 2.35
  57.00 59.70 2.70 8.54
  71.50 73.50 2.00 3.02
TC5405 100.00 103.00 3.00 6.76
14m 258.00 261.00 3.00 8.46
  301.00 304.00 3.00 2.79
 * 310.00 315.00 5.00 10.64
(*Top cut as it includes an assay over 40 GPT.
Uncut value is 12.80 GPT Au)
TC7602 27.00 33.00 6.00 2.57
TC7802 4.00 6.00 2.00 5.69
TC8003 22.00 28.00 6.00 1.45
TC8605 11.50 19.00 7.50 0.87
9.5m 76.30 78.30 2.00 2.02
South-East Anomaly
TC34402 24.20 28.20 4.00 1.43
22.1m 50.20 55.20 5.00 1.67
  110.10 118.10 8.00 2.61
  191.40 196.50 5.10 2.03
TC34403 30.00 35.00 5.00 2.98
861 Fault Zone
A2TC6303 89.00 94.00 5.00 1.73
10m 141.00 146.00 5.00 4.57
A2TC4801 69.00 79.00 10.00 2.41
24.2m 216.00 225.20 9.20 0.81
  229.20 234.20 5.00 1.75

(Assay cut-off for the above table was at 10 g/m Au, however, intervals were determined by geological interpretation of consistent mineralized zones. Broader intervals may include waste intervals of up to 2m. Any samples over 40 GPT Au were top-cut to 40 GPT Au as indicated.)

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.

Trench chip-channel samples were taken at geologically established intervals consistent with the width of each mineralized area exposed in the trench. The sample interval was typically one meter. The individual samples collected over the designated intervals are representative of the material for the respective intervals. The sample interval and collection methodology are consistent with industry standards

Each of the trenches listed above was excavated on lines spaced variably at a minimum of 40m to a maximum of 400m intervals. All trenches sampled in 2009 were excavated by backhoe and most uncovered broken bedrock at depths of 1.5 to 2.5 metres, which was typically altered and highly deformed sediments. All trenches are mapped in detail and channel samples are taken at one metre intervals across all mineralized zones. The gold bearing zones intersected coincided with areas of secondary sulphide enrichment in these Triassic sediments.

Samples were collected using 1.0 to 1.5 metre chip samples, each weighing approximately 3 to 5 kg. Qualified Chinese geologists and technicians under the direct field supervision of Mr. Garth Pierce, Inter-Citic's Vice President of Exploration, carry out the trench sampling.

Each sample is secured and transported to the Qinghai Institute of Rock and Mineral Testing and Application, located in Xining, Qinghai, PRC, or to the Research Center of Xi'an Institute of Geology and Mineral Resources located in Xi'an, Shaanxi Province, PRC, both independent arm's length Chinese government laboratories. At each respective laboratory, each sample is dried, crushed and a portion ground to minus 200 mesh. The gold content of each sample was determined by analyzing a 20 gram sample of the minus 200 mesh material through an aqua regia acid digestion and then analyzed for gold using atomic absorption. Accuracy of the results is tested through the systematic inclusion of standards and replicate 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 2008 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