Drilling results
(Thomson Reuters ONE) - Chaarat Gold Holdings Ltd ("Chaarat" or "the Company") Drilling intersects significant mineralisation in the T0700 Project Area at the Chaarat Gold Property, KyrgyzstanRoad Town, Tortola, British Virgin Islands, 3 November 2009.Chaarat Gold Holdings Ltd (AIM:CGH) is pleased to announceencouraging results from channel sampling of an underground adit andsurface drilling programme on the Tulkubash Zone at its 100% held,604 square kilometre, Chaarat Gold Property in Kyrgyzstan.Highlights (True widths)Adit-2 18.00m at 4.60 g/t AuIncluding 5.78m at 9.09 g/t AuDrillholeCCH09T0796 24.60m at 4.88 g/t AuThe results reported herein refer to five surface drill holes and anadit, all in the T0700 Project Area that targets the southern part ofthe Tulkubash Zone.The Tulkubash Zone is one of three parallel striking mineralizationtrends at the Chaarat Project which also include the Main Zone andthe Contact Zone where at the end of 2008 a JORC compliant resourceestimate of 3.34 million ounces at 4.3 grams per tones was reported.The Tulkubash zone has been delineated by soil anomalies over astrike of about 4 km, of which only 500 metres of strike at thesouthern most part of the zone in the T0700 Project Area has beenexplored by drilling. The gold mineralization within the Tulkubashzone is hosted by quartzites over wide zones at shallow depths. Oneof the objectives of the work conducted this year in the T0700project has been to evaluate the potential for this mineralization tobe included as a possible future open pit mining resource. Theseencouraging results will help direct future work towards these goals.Dekel Golan, CEO of Chaarat, comments "Significant progress has beenmade this year to improve our understanding of the open pit potentialof the Chaarat deposit. Management believes that if this potential isidentified and proves economic, it will have a significant impact onthe economics of the project. The results reported herewith are yetanother step in achieving this important goal. We look forward tofurther drilling results and remain on track to announce a newresource update in Q1 2010."Five drill holes were drilled in the T0700 Project area during theseason. In addition, one existing Soviet era Adit was mapped andsampled. The results are presented in Table-1.Table-1 Drilled From Drilled To Length True width AuHole ID Section (metres) (metres) (metres) (metres) (g/t)Adit-2 1000 65.00 93.00 28.00 18.00 4.60including 1000 83.00 92.00 9.00 5.78 9.09CCH09T0791 NE160 76.00 79.00 3.00 1.93 1.90CCH09T0791 NE160 82.00 88.00 6.00 3.86 2.36CCH09T0792 NE-00 152.50 155.50 3.00 1.93 2.39CCH09T0792 NE-00 169.00 170.50 1.50 1.00 2.45CCH09T0792 NE-00 173.50 175.00 1.50 1.00 3.55CCH09T0792 NE-00 178.00 179.50 1.50 1.00 2.80CCH09T0793 NE-200 107.50 110.50 3.00 1.93 3.51CCH09T0794 NE-240 79.50 84.00 4.50 2.89 2.19CCH09T0796 700 36.50 68.00 31.50 24.60 4.88Mineralisation in Tulkubash Zone is hosted in silicified quartzitesand mineralised zones exhibit pervasive silicification and someargillic alteration, together with elevated contents of sulfides upto 10-15 volume %. The Tulkubash Zone strikes parallel to the Contactand Main Zones and extends to the north-east into the Karator andIshakuldy areas.QA/QC Procedures: Sampling Methodology and Quality ControlAll samples are sent to a laboratory in Kyrgyzstan, Alex Stewart,accredited by the UK Accreditation Service, for sample preparationand assays. Genalysis, Australia, a NATA ISO/IEC 17025 accreditedlaboratory for analysis is being used for QA/QC check of the analysesof Alex Stewart. 20% check samples in form of 2 Standards, 1 Blankand 1 Duplicate in a batch of 20 samples are being used for qualitychecks of the Alex Stewart assays.Competent PersonThe Competent Person with overall responsibility for this pressrelease and who has reviewed the information contained herein isSunit Patel M.Sc (Geology), FGS, GSSA, who is an employee of ChaaratGold. Mr. Patel is an exploration geologist with 22 years ofexperience in the resource industry who has sufficient experiencerelevant to the style of mineralisation and type of deposit underconsideration and was supervisor to the work subject of thisrelease.About the Chaarat Gold ProjectThe Chaarat Project is situated within the Middle Tien Shan Mountainsof Kyrgyzstan which form part of the Tien Shan gold belt.Mineralisation occurs and resources have been defined in threesub-parallel zones including the Main Zone, the Contact Zone and theTulkubash Zone. At the completion of the 2008 exploration season, aMineral Resource of 3.34Moz at a grade of 4.30 g/t gold (JORCcompliant in the Indicated and Inferred categories) had beendelineated. The Company's exploration programme is aimed atincreasing the confidence levels in this Resource through infilldrilling and increasing the resource through down-dip andalong-strike extension drilling.About Chaarat Gold Holdings or the CompanyChaarat Gold Holdings is an exploration company founded for thepurpose of developing the Chaarat Licence Area. Chaarat was admittedto AIM on 8 November 2007.DisclaimerThis press release includes forward-looking statements. Suchforward-looking statements involve known and unknown risks,uncertainties and other important factors beyond Chaarat's controlthat would cause the actual results, performance or achievements ofChaarat to be materially different from future results, performanceor achievements expressed or implied by such forward-lookingstatements. Such forward-looking statements are based on numerousassumptions regarding Chaarat's present and future businessstrategies and the environment in which Chaarat will operate in thefuture. Any forward-looking statements speak only as at the date ofthis document. Chaarat expressly disclaims any obligation orundertaking to disseminate any updates or revisions to anyforward-looking statements contained in this document to reflect anychange in Chaarat's expectations with regard to these or any changein events, conditions or circumstances on which any such statementsare based. As a result of these factors, the events described in theforward-looking statements in this press release may not occur eitherpartially or at all.EnquiriesChaarat Gold Holdings Ltdc/o Central Asia Services Ltd +44 (0) 20 7499 2612Dekel Golan dekel(at)chaarat.comLinda Naylor linda.naylor(at)chaarat.comCanaccord Adams Limited +44 (0) 20 7050 6500Mike JonesSmith's Corporate Advisory +44 (0) 20 7239 0140Dominic Palmer-Tomkinson tomkinson(at)smiths-ca.comConduit PR +44 (0) 20 7429 6603Jos Simson jos(at)conduitpr.com---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 03.11.2009 - 08:02 Uhr
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