Inter-Citic Minerals Inc.
TSX : ICI

Inter-Citic Minerals Inc.

October 03, 2011 08:25 ET

Inter-Citic Announces Two New Mineralized Zones Discovered at Its Dachang Gold Project

Trenching Results Include 17.0 Metres at 6.65 GPT Gold and 7.7 Metres at 9.0 GPT Gold

TORONTO, ONTARIO--(Marketwire - Oct. 3, 2011) - Inter-Citic Minerals Inc. (TSX:ICI) ("Inter-Citic" or "the Company") President and CEO James Moore is pleased to report the discovery of new extensive at surface gold mineralization through trenching at its Dachang Gold Project in China.

As part of the Company's $6.3 million exploration program in 2011, Inter-Citic has conducted extensive trenching in new areas at Dachang. To date, Inter-Citic has completed almost 15,000 m of trenching in new areas, with approximately 8,500 m of trenching in the southeast corner of the property on the South East Anomaly ("SEA"). Trenches in the SEA and SW Zones are new discoveries in areas with no previous drilling.

The South East Anomaly has now been sampled through surface trenching at intervals of between 40 to 60 m. The SEA trenching results indicate at least five separate parallel fault structures that have strike lengths of 800 to 1,500 m and remain open to further expansion. Work on the new anomaly in South West Dachang is just beginning and so far has been sampled through almost 800 m of surface trenching. Both the SEA and SW anomalies are now in the process of being tested as part of the Company's 2011 drill program.

Trenching in the 861 Zone is an extension of known zones of mineralization. The Acadia and 861 Zone structures remain open along strike.

Below are some significant gold intervals reported from trenches. Field observations correspond well to trench results, describing either good gossan, fault zones or both, directly correlating with the intervals. Inter-Citic believes they represent good potential drill targets for further exploration.

Trenching Results
Trench
Number
From
(m)
To
(m)
Length
(m)
Assay
gpt Au
Gram
Metres
Acadia Zone
T-2015 2.00 19.00 17.00 1.10 18.70
Southeast Anomaly ("SEA")
T-26002 66.50 83.50 17.00 6.65 113.05
T-26204 16.00 21.00 5.00 2.84 14.20
T-26404 11.00 19.00 8.00 2.90 23.20
T-26603 55.80 63.80 8.00 2.94 23.52
T-26802 10.00 16.00 6.00 4.67 28.02
T-28402 25.00 34.00 9.00 3.49 31.41
T-28805 31.00 39.00 8.00 1.27 10.16
T-29003 8.00 14.00 6.00 1.91 11.46
T-29207 55.00 57.00 2.00 5.85 11.70
T-29602 7.00 15.00 8.00 1.94 15.52
T-30001 88.30 99.30 11.00 3.42 37.62
T-30402 11.30 16.30 5.00 2.33 11.65
T-31002 63.00 68.40 5.40 6.44 34.78
71.00 76.00 5.00 3.71 18.55
81.10 86.10 5.00 3.13 15.65
T-31203 17.30 25.00 7.70 9.00 69.30
T-31401 35.10 40.10 5.00 2.60 13.00
T-31402 35.50 40.50 5.00 6.44 32.20
T-31603 7.50 17.50 10.00 5.55 55.50
T-32401 3.60 9.80 6.20 1.99 12.34
T-32601 40.50 46.30 5.80 4.00 23.20
T-34001 59.70 63.00 3.30 3.25 10.73
T-34601 36.00 40.00 4.00 5.23 20.92
90.00 103.20 13.20 3.52 46.46
T-35601 56.00 66.60 10.60 2.80 29.68
T-37801 67.00 71.00 4.00 5.84 23.36
Southwest Anomaly ("SW")
T-2110 7.20 10.20 3.00 10.26 30.78
T-2507 100.00 102.00 2.00 5.75 11.50
T-2903 11.00 13.00 2.00 9.58 19.16
87.70 99.70 12.00 0.86 10.32
861 Zone
T-6404 36.00 41.00 5.00 2.52 12.60
T-6804 11.50 16.50 5.00 3.45 17.25
T-7004 19.00 26.00 7.00 2.45 17.15
T-7402 21.50 40.50 19.00 1.53 29.07
T-7606 66.00 78.00 12.00 1.23 14.76
T-7803 22.00 32.00 10.00 1.34 13.40
T-8004 19.00 27.00 8.00 3.08 24.64

Assay cut-off for the above trench results was at 0.5 gpt Au, however, intervals were determined by geological interpretation of consistent mineralized zones. Trench results in this release were further restricted to those that returned values in excess of 10.0 gram metres (metres multiplied by grams per tonne). None of the above results required topcutting as no individual assay value exceeded 40 gpt Au. Broader intervals may include waste intervals of up to 2m. True widths for the intervals above have yet to be determined. A map showing zone locations is available on the Company's website at: http://www.inter-citic.com/maps.php.

Trenching continues to be one of the most successful and cost-effective methods of gold exploration at Dachang due to the thin soil cover and near-surface mineralization observed throughout the property. A consistent spatial relationship has been observed between the gold in soil anomalies, trench values and underlying strongly altered and mineralized fault zones, and was what originally led to the discovery and expansion of the DMZ resource area.

Drilling Update:

The 2011 drill program is well underway at Dachang, with seven drills currently operating. Samples have been submitted for assay. Results from drilling will be released as they become available.

Sample Methodology:

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 120m intervals. All trenches sampled in 2011 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 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 advancing its Dachang Gold Project in the People's Republic of China. 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 2010 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

  • Inter-Citic Minerals Inc.
    Stephen Lautens
    Vice President, Corporate Communications
    (905) 479-5072 x 227
    stephen@inter-citic.com