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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.

Monday, February 02, 2009

Tianshan Goldfields expects evaluation of pre-feasibility study in Q1 2009

Tianshan Goldfields Ltd said work on pre-feasibility study for its flagship Gold Mountain project in Xinjiang province of North West China is continuing and evaluation of the findings is targeted for completion in the first quarter of 2009.

In an update for the quarter ended December 31 2008, the company said the mining licence application process had to be slightly extended due to recent regulatory changes that require metallurgical tests to be performed at Chinese-approved laboratories. The application process is now expected to be completed by H2 2009.

The 2008 program, which included geochemical and geophysical coverage of the main resource area, returned encouraging drill intercepts at depth on the southern margins of the Yelmand and Balake deposits.

Results included significant broad intercepts of gold mineralisation including 72 metres at 1.75 grams per ton of at Yelmand and 48 metres at 2.08 g/t gold at Balake. The results have reinforced the potential for extensions to the existing resource base at Gold Mountain. To date, 35 drillholes have been completed on the near-resource testing and geotechnical programmes, for a total of 6,641.9 metres.

The company considers that the most likely scenario for development will involve targeting a low-cost, low-capex, open pit, heap leach mining operation with an initial production target of 80-100,000 ounces per annum, from processing approximately 5 million tons per annum of ore at a centralised gold processing and valley leach facility located at Yelmand.

Additionally, Tianshan will complete column leach tests on ore-type samples for the Yelmand, Jinxi and Mayituobi deposits with the results to be included in the Geology and Mineral Resource Report, resource model and pit optimisation studies.


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