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Additional Information
Market: ASX
Sector: Gold Mining
Epic: TGF
News: Latest news
Web Site: Tianshan Goldfields
Other Articles: 27-10-200920-10-200907-05-2009

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Tianshan Goldfields

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 announced the sale in November 2009 of its entire portfolio of Chinese assets to Hong Kong registered company China Power Sino Renewable Resources Ltd in November for USD$22.5M.

Thursday, January 08, 2009

Tianshan Goldfields has significant gold hits at Gold Mountain

by Proactive Investors company news image

Tianshan Goldfields (ASX:TGF) has announced final results from the program of near-resource drilling undertaken during 2008 at the Company’s 90%-owned 2.6moz Gold Mountain Project in northwest China.

The program returned "encouraging drill intercepts at depth on the southern margins of the Yelmand and Balake deposits."

The results included significant broad intercepts of gold mineralisation including 72 metres at 1.75g/t gold (including 58 metres at 2.08g/t gold) at Yelmand and 48 metres at 2.08g/t gold at Balake.

The results have reinforced the potential for extensions to the existing resource base at Gold Mountain. The Gold Mountain Project currently comprises Measured, Indicated and Inferred Resources totalling 94.8 million tonnes at 0.9g/t gold for 2.64 million ounces.

In November 2008, Anglo Pacific Group (ASX:AGP; LSE:APF) increased its shareholding in Tianshan Goldfields (ASX:TGF) from 7.9% to 10.1%.

Tianshan Goldfields had a healthy cash balance of $A17.3m as at 30 September 2008.

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