News ReleaseInter-Citic plans 3,000 metres of drilling on Dachang
Inter-Citic Minerals Inc (TSX-V:ICI)
Shares Issued 42,230,174
Last Close 10/7/2005 $1.15
Tuesday October 11 2005 - News Release
Mr. James Moore reports
INTER-CITIC TO BEGIN DRILLING DACHANG
Inter-Citic Minerals Inc. has finalized arrangements to conduct a 3,000-metre diamond-drilling program at its Dachang gold project in the province of Qinghai, China, due to the encouraging results from its 2005 trenching program,
Two modern Canadian wire-line diamond drills, acquired from Canada-based Cyr Drilling International Ltd., were brought by the company to Dachang at the end of 2004 and have remained on the site.
Drilling will commence on the NR-1 and NR-2 areas of the North River district. The company intends to drill targets developed through trenching of these areas during the past two months. Trench results from the NR-2 and NR-1 areas were reported in Stockwatch on Sept. 7, 2005, and Sept. 19, respectively. New mineralization of significant width and grade has been discovered through trenching of these and other gold soil anomalies on the Dachang property this year. Drill testing of these targets will focus on measuring the depth of the oxidized zones discovered in various areas, as well as measuring the gold grade in the fresh sulphides below the oxidized and leached surface exposures.
"I am very pleased that we are in a position to make this announcement," said James Moore, president and chief executive officer of Inter-Citic Minerals. "Through the co-operation of our Chinese partner QGSI as well as our Canadian supplier Cyr Drilling International we have been able to organize this drill program, which should, among other things, provide an even greater understanding of the geological controls on the widespread Dachang gold mineralization."
The 2005 exploration program included:
18,000 metres of trenching;
soil geochemistry sampling; and
geological mapping.
While trenching continues on a number of untested anomalies, the company has arranged for drilling in response to the very encouraging results obtained to date through surface trenching. The drills were successfully tested last month for operational readiness and crews are scheduled to arrive at camp in the coming days. The company will make a further announcement to shareholders when drilling commences.
Maps of the Dachang property and the North River district are available on the company's website.