 |
 |
 |
 |
 |
Minco Gold Discovers Major Gold Zones at Yangshanli Property
Minco Gold Discovers Major Gold Zones at Yangshanli Property Thursday April 3, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 3, 2008 -- Minco Gold Corporation (the "Company" or "Minco Gold") (Toronto:MMM.TO - News)(AMEX:MGH - News)(Frankfurt:MI5.F - News) is pleased to announce the results of a trenching program on the Company's 100% owned Yangshanli property, part of the Longnan Project, located in Gansu Province within the southwest Qinling gold field, China.
The 2007 Yangshanli property trenching program has returned encouraging results and has identified a bedrock sourced gold anomalous area that, to date, is approximately 1.6 kilometres long by 300 metres in width. The 8 trenches have gold grades based on channel samples ranging from 0.30 to 1.02 g/t gold (Au) over widths ranging from 3.0 to 12.6 metres (m). The area, which is similar to the geological setting at the Anba Deposit, is located along strike to the west-northwest and is underlain by intercalated altered phyllites and limestones with granitic dykes.
The averaged channel samples results are as follows:
---------------------------------------------------------------------------
Average
Trench Width Grade
ID (m) Au g/t Lithology Alteration
---------------------------------------------------------------------------
TC43-1 12.6 0.33 Phyllite & Limonite, silicified & fracture
granitic dyke zone
---------------------------------------------------------------------------
TC35-1 3.0 0.35 Phyllite Limonite, silicified & fracture
zone
---------------------------------------------------------------------------
TC21-1 10.3 0.79 Phyllite Limonite, silicified & fracture
zone
---------------------------------------------------------------------------
Including 7.2 0.96
---------------------------------------------------------------------------
TC19-1 4.6 0.35 Phyllite Limonite, silicified & fracture
zone
---------------------------------------------------------------------------
TC7-1 10.9 0.5 Phyllite Hematite, limonite, silicified
fracture zone
---------------------------------------------------------------------------
Including 5.0 0.65
---------------------------------------------------------------------------
TC8-2 7.0 1.02 Phyllite Limonite, silicified fracture
zone
---------------------------------------------------------------------------
TC68-1 6.0 0.51 Phyllite Silicified fracture
---------------------------------------------------------------------------
TC80-1 4.2 0.3 Phyllite Hematite, limonite, silicified
fracture zone
---------------------------------------------------------------------------
The trenching program was conducted to follow up previously identified soil geochemical anomalies and anomalous grab samples from previous years exploration work. All trenches did not expose the entire width of the alteration - mineralized zone potential due to thick overburden. The limonitic, hematitic and silicified alteration zones are characteristic of the gold deposits within the regional area that are hosted by these lithologies. The area will be followed up during 2008 with more surface trenching and sampling, and an Induced Polarization survey.
Samples were prepared and assayed at PRA Kunming lab (Process Research Associated Ltd.) with supervision of a certified BC assayer. Gold was assayed with fire assay and AAS or gravimetric finish. Assay results were further checked at PRA's Vancouver lab as an external check.
Mr. Dwayne Melrose, P. Geo, Vice President Exploration for Minco Gold, has reviewed this news release and is the Qualified Person responsible for verification and quality assurance of the Company's exploration data and analytical results.
About Minco Gold
Minco Gold Corporation (Toronto:MMM.TO - News)(AMEX:MGH - News)(Frankfurt:MI5.F - News) is a Canadian mining company involved in the direct acquisition and development of high-grade, advanced stage gold properties in China. The Company owns an exploration property portfolio covering more than 1,500 square kilometres of mineral rights in China.
ON BEHALF OF THE BOARD
Dr. Ken Z. Cai, President & CEO