SOURCE: Cigma Metals Corporation

February 11, 2009 19:52 ET

Cigma Metals Corporation Announces the Results of the 2008 Drilling Program on the Berezki East Deposit, Dostyk Gold-Copper Project in Kazakhstan

ALMATY, KAZAKHSTAN--(Marketwire - February 11, 2009) - Cigma Metals Corporation (the "Company," "Cigma") (PINKSHEETS: CGMX) (FRANKFURT: C9KA) is pleased to announce the results of the 2008 drilling program at the Berezki East deposit in Kazakhstan.

HIGHLIGHTS

-- Dostyk Project -- close resemblance to world-class gold-copper deposits
-- Berezki East Deposit is a part of a large gold-copper-porphyry system
-- Deposit remains open along strike and at depth
-- Best results
   - 112m at 1.61g/t gold equivalent from surface in drill hole Bz6,
     including 17.2m at 4.8g/t gold equivalent
   - 80m at 0.8g/t gold equivalent from surface in drill hole Bz9,
     including 22.5m at 1.85g/t gold equivalent
   - 136m at 1.15g/t gold equivalent from 30m in drill hole Bz14,
     including 52m at 2.6g/t gold equivalent

During 2008 the Company has completed 12 diamond drill holes (DDH) for a total of 3,950 meters with an average drill hole depth of 330 meters. The drilling program was targeting outer zone of large gold-copper porphyry system. The drilling confirmed over 420 meters of continuity for the mineralization zone along strike with an average width of approximately 50 meters and reaching 80 meters in places. The mineralization is characterized by the steep dipping. It has been traced down to a depth of 350 meters and remains open both on strike and depth. The oxidation zone extends from surface down to 40 meters and could be suitable for free-milling and heap-leach gold-copper extraction. The most representative interceptions were obtained along drilling fences F2, F3 and F10.

-- Drilling Fence F2 (Figure 4)

The drill holes of drilling fence F2 extended the results of the historical drilling by intercepting a bulk mineralization zone that is characterized by impressive grades for the porphyry systems, proximity to the surface and extension to the depth over 300m:

   - DH Bz6
     -- 112m grading 1.11g/t gold and 0.2% copper (1.61g/t gold
        equivalent) from surface, including
        - 17.2m at 4.07g/t gold and 0.29% copper (4.8g/t gold equivalent)
        - 21.9m at 1.96g/t gold and 0.1% copper (2.2g/t gold equivalent)

   - DDH Bz7
     -- 78m grading 0.59g/t gold and 0.12% copper (0.9g/t gold equivalent)
        from 70m, including
        - 28m at 1.04g/t gold and 0.18% copper (1.5g/t gold equivalent)

   - DDH Bz8
     -- 69m grading 0.5g/t gold and 0.14% copper (0.85g/t gold equivalent)
        from 148m, including
        - 19m at 1.45g/t gold and 0.2% copper (1.95g/t gold equivalent)

-- Drilling Fence F3 (Figure 5)

Drilling fence F3 was set to test the south western flank of the deposit. All three drillholes of the fence intercepted the mineralization zone and confirmed that it extends from the surface to the depth of over 180 meters below the surface with an average thickness of 50m.

   - DDH Bz9
     -- 80m grading 0.52g/t gold and 0.13% copper (0.85g/t gold
        equivalent) from surface, including
        - 22.5m at 1.4g/t gold and 0.18% copper (1.85g/t gold equivalent)

   - DDH Bz16
     -- 93m grading 0.51g/t gold and 0.18% copper (0.96g/t gold
        equivalent) from 75m, including
        - 35m at 1.11g/t gold and 0.19% copper (1.6g/t gold equivalent)

-- Drilling Fence F10 (Figure 6)

Drilling fence F10 was set to test the north eastern flank of the deposit and revealed the mineralization zone with the thickness of 60m and close proximity to the surface.

   - DDH Bz14
     -- 136m grading 0.9g/t gold and 0.1% copper (1.15g/t gold equivalent)
        from 32m, including
        - 52m at 2.1g/t gold and 0.2% copper (2.6g/t gold equivalent)

Berezki East Deposit -- Primary Geology and Infrastructure

Berezki East is a gold-copper-porphyry system. The deposit area is composed by strongly hydrothermaly altered volcanic and intrusive rocks with numerous geochemical gold-copper anomalies. The gold-copper mineralisation is associated with pyrite and chalcopyrite within wide-spread zones of chlorite-epidotic alteration. The Berezki East deposit belongs to gold-copper-porphyry type of mineralization, which controls over 70% of world copper resources.

Berezki East is a part of a large-scale K-OZEK gold-copper-porphyry system with total area of 15km2 (Figure 2). The K-OZEK area is composed by strongly hydrothermaly altered volcanic and intrusive formations with numerous geochemical gold-copper anomalies. The gold-copper mineralisation is associated with pyrite and chalcopyrite within wide-spread zones of chlorite-epidotic alteration. Beside Berezki East the K-OZEK area comprises five other high-prospective gold-copper deposits with exploration potential over three million ounces of gold equivalent.

K-OZEK mineralization is a typical gold-copper-porphyry system. The presented figures are in line with many world class copper deposits that are actually in production. Porphyry-related deposits control over 70% of world copper resources. This type of mineralization is characterized by large dimensions and relatively low grades. Since 1980 several gold-copper mines world-wide have been producing copper-gold concentrates from ores grading 0.5g/t to 1.0g/t of gold equivalent. The ore resources of such deposits usually extend hundred of million tonnes.

Dostyk project of 14,000 km2 (Figure 1) is located in the North Eastern region of Kazakhstan near to the Russian and Chinese border. Infrastructure is just perfect with sealed roads and railways crossing the licence area. Power lines with voltage up to 1,150 kW cross the project area. The region has been mined for gold, base metals, nickel, coal and others.

Cigma Metals Corporation is a mineral exploration company focusing on the exploration and development of its mineral exploration property located in the Pavlodar province of Kazakhstan and its two exploration properties in the Tomsk province of Russia. All the project areas were selected due to their proximity to a well-developed infrastructure, known mineral occurrences and from historical records of gold and base metals production. The Company's stock is quoted for trading in the United States of America on the OTC Pink Sheets under the symbol "CGMX.PK," and under the symbol "C9KA.F" on the Frankfurt Exchange, in Germany.

ON BEHALF OF THE BOARD

"Agustin Gomez de Segura"
Agustin Gomez de Segura
President, CEO and Director

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.

These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.

Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. These cautionary statements qualify all of the forward-looking statements made in this press release. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov/.

We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.

Contact Information

  • For further information please contact:
    Agustin Gomez de Segura

    Address: 18, 80 Furmanova Str
    Almaty, Republic of Kazakhstan
    Telephone: Almaty Office +7 327 2611 026
    Website: http://www.cigmametals.com