The current phase of exploration being conducted on Minco Gold’s Yejiaba property in Gansu province has resulted in the discovery of a large gold zone. The company has made good progress following up promising exploration at the Baimashi North target which was identified through a review of the exploration results at Yejiaba.
This year Minco Gold has collected 247 rock chip samples, 125 soil samples and 41 stream sediment samples within the Baimashi North target, which is dominantly northeast trending and is about 1100 metres-long and 400 to 600 metres-wide. The mineralized zone is open to the north, northeast, and southwest.
Of the 247 rock chip samples collected within this target area, individual gold values range from 0.005 to 47.115 grams/tonne and average 1.49 gram/tonne, with six samples exceeding 10 grams/tonne.
“We are excited with the new discoveries. The gold assay results from these samples are encouraging. Credit goes to our experienced field crews for finding this highly prospective gold zone,” says Minco Gold’s president and CEO Ken Cai. “We are also finding that because these samples are dispersed over such a large area, there is significant size potential.
“The company will continue to advance this target through the rest of the field season this year to define the limits of the gold mineralization after which we will have a more complete understanding of the distribution of gold mineralization at the Baimashi North Target, and from these results our geologic team can select sites for an upcoming drill program.”
Minco Gold is a Canadian mining company involved in the direct acquisition and development of high-grade, advanced stage gold properties. The company owns a 51% interest in the Changkeng Gold Project and also owns 100% of the Longnan project with 10 exploration permits.