Tianshan Goldfields
Tianshan Goldfields Limited Is focused on developing its 90% interest in the Gold Mountain Project in north western China. China is now the fourth largest gold producer in the world.
The Gold Mountain Project consists of exploration licences covering 632 square kilometres and hosts advanced gold deposits and exploration targets with the potential for both large tonnage disseminated gold deposits and narrower higher grade opportunities. The Company currently has a total Indicated and Inferred Mineral Resource estimated at 95 million tonnes at 0.9g/t Au for 2.8 million ounces of gold (at 0.5g/t Au lower cut-off grade).
Tianshan Goldfields renews licences in China
Tianshan Goldfields, which is advancing its 90% owned 2.64 million ounce Gold Mountain Project towards a development decision provided a wide ranging update on activities today.
Tianshan began with confirmation of a 'detailed geological mapping' program over the four major resource areas of Gold Mountain, with a view to updating its mineralisation model. Prospect mapping has also commenced on the Jilande Prospect. Rock chip samples have already confirmed encouraging results, and Tianshan stated that Jilande appeared structurally complex with small north-south structures cutting across main mineralised zone. Drilling at Jilande is earmarked for Q3.
Mapping and rock chip samples over the North Kezele tenement also confirm the need for further exploration, with a 2 kilometre strike ranging 30-50 metres wide identified. Dito for the Chart tenement where mapping and sampling has also confirmed mineralisation.
"Extensive prospecting", including mapping and sampling of the Tekexi, Awuliya and Jin Gu prospects have been completed, and have further supported the need for drilling. A large alteration system, some 600 metres by 200 metres in size, has also been highlighted from mapping at the Talede tenement.
On the corporate front, Tianshan also confirmed that renewal reports had been written and accepted for seven regional tenements, except the Naogaitu tenement which was surrendered. A renewal report for the Gold Mountain tenement was also written, submitted and accepted by the relevant authorities. Finally, the company reconfirmed its goal of completing the pre-feasibility study in Q3 2008 with a full feasibility study expected for completion by Q1 2009.
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Other Tianshan Goldfields news
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26/11/08 Tianshan Gold takes 60 percent in new gold project in Shangdong province
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08/07/08 Tianshan Goldfields quits AIM
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23/06/08 Tianshan Goldfields provides operational update
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16/05/08 Tianshan Goldfields starts major drilling program
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11/03/08 Interim results underline solid progress at Tianshan Goldfields
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18/02/08 Tianshan Goldfields confirms excellent gold recoveries
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05/02/08 Tianshan Goldfields ups resource to 2.6m oz gold