Lateegra provides Jinjishan gold mine sampling results
2004-09-13 16:49 ET - News Release
Mr. Michael Townsend reports
JINJISHAN GOLD MINE ASSAY RESULTS
Lateegra Resources Corp. has disclosed that an independent engineering team from CNNC, the Nuclear Industry 290 Research Bureau of Guangdong, has completed the sampling portion of the due diligence program on the Jinjishan gold mine property in Henan province, China.
Geologically, the gold mine is located in the south margin of the north China craton. This margin is the focus of the second-largest gold concentration and production region of China, where more than 1,000 gold-bearing quartz veins are present. The gold mine owns all infrastructures including a 100-ton-per-day capacity ore concentration plant which could be increased to 375 tons per day. The sector has water supply, sewage system, electric services and a good access road.
F1 vein sampling
This sampling program focused on previous surface trenches and underground on the six levels, including the areas currently being mined. Assays are in the three columns as follows.
Sample Au Ag
description (g/t) (g/t) (m)
F1A1-2 0.04 1.3 0.82
F1A2-2 0.18 2.0 0.50
F1A3-2 0.32 3.8 0.30
F1A4-2 6.00 25.0 0.43
F1A5-2 29.20 88.9 0.95
F1A6-2 10.20 14.2 0.96
F1A7-2 10.20 43.0 0.68
F1A8-2 11.12 87.0 0.42
F1A9-2 7.00 85.3 0.62
F1A10-2 13.10 64.0 0.45
F1A11-2 60.00 99.5 0.35
F1A12-2 16.00 64.0 0.31
F1A13-2 3.00 27.0 0.73
F1A14-2 4.00 17.4 0.55
F1A15-2 7.20 3.8 0.45
F1A16-2 9.70 45.0 0.76
F1B1-2 14.30 36.4 0.43
F1B2-2 2.10 71.0 0.60
F1B3-2 19.20 58.6 0.80
F1B4-2 11.40 16.6 0.93
F1B5-2 17.80 28.8 0.55
F1B6-2 13.00 37.0 1.0
F1B7-2 15.16 499.0 0.69
F1B8-2 32.00 1,284.2 0.55
F1B9-2 3.80 40.0 0.44
F1B10-2 5.40 71.1 0.48
F1B11-2 8.00 17.2 0.48
F1B12-2 9.70 121.5 0.55
F1B13-2 8.32 15.1 0.33
F1B14-2 5.62 55 0.37
F1B15-2 64.2 882.4 0.51
F1B16-2 3.1 58 0.30
F1C1-2 99.2 218.9 0.46
F1C2-2 34.8 113 0.57
F1C3-2 8.18 37 0.46
F1C4-2 12.92 84 0.60
F1C5-2 7.76 76 0.48
F1C6-2 6.38 33 0.46
F1C7-2 11.24 50 0.35
F1C8-2 7.28 31 0.49
F1C9-2 4.54 50 0.78
F1C10-2 19.94 65 0.96
F1C11-2 12.94 54 0.45
F1C12-2 2.58 17.7 0.53
F1C13-2 4.84 47 0.62
F1C14-2 5.38 22 0.83
F1C15-2 0.28 30 0.95
F1C16-2 4.88 63 0.70
F1D1-2 9.82 36 0.45
F1D2-2 11.16 49 0.40
F1D3-2 9.34 25 0.35
F1D4-2 25.62 100 0.25
F1D5-2 13.46 54 0.25
F1D6-2 55.8 23 0.70
F1D7-2 5.92 8.3 0.30
F1D8-2 10.72 26 0.25
F1E1-2 3.22 16.5 0.37
F1E2-2 13.14 40 0.40
F1E3-2 10.78 28 0.70
F1E4-2 3.36 14.5 0.30
F1E5-2 2.84 16.1 0.70
F1E6-2 1.3 16.6 0.25
F1E7-2 18.34 33 0.40
F1E8-2 3.38 13.7 0.25
----- -------- ----
Average 13.4 84.62 0.53
===== ======== ====
Assays are being evaluated in order to calculate a resource estimate. The location and layout of the tunnels and trenches have been remapped and digitized.
F3, F4, F5, F6, F7, F8, F9, F10 and Qianhe veins sampling
The engineering team surveyed the F3, F4, F5, F6, F7, F8, F9, F10 and Qianhe veins, and samples were taken in the same areas or proximity of the previous sampling. The assays will be checked against the sampling records provided by the local technical staff of Jinjishan gold mine.
The company anticipates receiving the mining and exploration licence by the end of the month and will then proceed with the expedited filing to obtain TSX Venture Exchange approval for the proposed transaction.
Sample Au Ag
description (g/t) (g/t) (m)
F3A2-2 16.44 19.7 0.35
F3A3-2 2.9 8.3 0.42
F4A1-2 7.44 3.9 0.35
F5A1-2 16.12 125.4 0.60
F5A2-2 10.72 123.8 0.45
F5A3-2 16.14 3,833.3 0.53
F5A4-2 18.04 291.7 0.40
F5A5-2 14.98 197.3 0.47
F5A6-2 10.08 38 0.55
F6A1-2 6.22 5.4 0.35
F6A2-2 8.24 86 0.42
F6A3-2 0.98 1 0.40
F6A4-2 0.13 0.9 0.35
F7A1-2 12.9 93 0.15
F7A2-2 5.1 3 0.35
F7A3-2 0.77 73 0.25
F8A1-2 14.02 87 0.25
F8A2-2 50.8 179 0.35
F8A3-2 5.18 28 0.45
F8A4-2 19.34 27 0.57
F8A5-2 48.4 229.2 0.40
F8A6-2 22.68 175.5 0.35
F8A7-2 21 68 0.30
F9A1-2 0.69 3.7 grab
F10A1-2 21.6 259.7 0.30
F10A2-2 21.9 38 0.35
----- -------- ----
Average 14.34 230.72 0.39
===== ======== ====
China is now the world's fourth-largest producer of gold, increasing its production from 2.5 million troy ounces in 1992 to 13 million troy ounces in 2002, and has now surpassed production in Canada. China is also the fourth-largest consumer of gold, having freed up the ownership of gold by its citizens. China currently has many small gold mines employing over 20 million people. The majority of those mines are low production (less than 150 tonnes per day and using old equipment and technology). Central government policy now favours consolidation of these small holdings into larger, more efficient production units employing modern facilities.
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