Alhambra Resources has received assay results for three diamond drill holes completed in 2012 at its Shirotnaia Gold Project in Kazakhstan, including a high grade intersection of 10.1 metres @ 14.71 grams/tonne gold within a 33.4 metres intersection that yielded a weighted average grade of 4.75 grams/tonne.
The highest grade section was intersected less than 100 metres below surface. Together with several other drill intersections in this area, this higher-grade section defines a new high-grade zone of gold mineralization trending and plunging to the northwest. The results are the best to date from Shirotnaia.
Shirotnaia is a mineral resource exposed on surface within an envelope of sporadic low-grade gold mineralization and alteration that measures more than 1800 metres long and 750 metres across. The inferred resource for this deposit is about 645,000 ounces of gold contained in 35 million tonnes at an average grade of 0.58 grams/tonne using a 0.18 grams/tonne cut-off.
Shirotnaia is one of numerous targets on Alhambra’s 9800sqkm Uzboy mineral licence in the world-class Central Asia-Chinese Altayshan Gold Belt. It is about 3km northwest of the reported multi-million ounce Aksu and Quartzite Hills deposits being mined by KazakhGold Group.
Alhambra’s chairman and CEO John J Komarnicki says, “These latest Shirotnaia results are most exciting. This high-grade intercept will markedly improve the grade and thickness of this portion of Shirotnaia. Delivering our fourth Shirotnaia drill hole with more than 100 gram-metres of gold is an indication that our technical team is advancing our knowledge of this emerging discovery. Now that we have identified new targets of structurally controlled high-grade shoots, follow-up drilling will likely result in an increase in both the tonnes and grade of gold mineral resources at Shirotnaia.”
In 2012 Alhambra completed 18 diamond holes totalling 3691 metres. The average depth of the holes was 205 metres. In late 2012, it reported assay results for eight of those holes, totalling 1408 metres. The objective of the 2012 program was to confirm and extend the previously identified higher grade gold mineralization zones along strike and to depth. The results to date indicate that this objective has been achieved, resulting in a number of new targets requiring follow-up drilling.
Due to the corporation’s recent financial difficulties, it has been forced to conserve its working capital and defer payment of some invoices. As a result, assay results are being reported as received from the laboratory.