Inter-Citic Minerals has updated the resource estimate at its Dachang Gold Project to a total 2.2 million ounces of contained gold. The company says measured and indicated categories have increased by 320,000 ounces and 250,000 ounces respectively from a 22.52 million tonne resource @ 3.04 grams/tonne gold. There is also an additional inferred mineral resource of 2.18 million ounces from 25.91 million tonnes @ 2.62 grams/tonne gold.  1

Results from the company’s 2011 drill program which covered 25,003 metres in 317 diamond drill holes and 21,000 metres of trenching have helped to confirm the estimate update. Inter-Citic says 320,000 ounces of the measured and indicated resource is outside the main Dachang zone on the 861/XP fault structure.

The company’s president James Moore says no new drilling was undertaken at the Dachang Main Zone or Placer Valley zone during the 2011 program. The resource estimate for these areas remains unchanged from the NI 43-101 report in June 2011.

There are 13 deposits within the Dachang project which is in Qinghai province in the country’s west. It covers 279sqkm of newly-discovered at-surface gold mineralization in an under-explored district. Inter-Citic has been actively exploring the site for seven years and has previously reported a measured and indicated resource of 1.88 million ounces of contained gold.

Drill highlights from the 2011 program include 11 metres @ 3.33 grams/tonne gold, 6 metres @ 3.34 grams/tonne gold and 12.1 metres @ 2.7 grams/tonne gold. Multiple intercepts have been confirmed during this recent program including one interval of 9.7 metres @ 10.92 grams/tonne gold.

James Moore says Inter-Citic continues to be encouraged by the growing resource which is poised to become one of China’s largest open pit gold mines.

www.inter-citic.com

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