Minco Gold Corporation

Published : July 03rd, 2014

Minco Gold Commences Drilling Program on Its Baimashi North Gold Target and Announces Annual General Meeting Results

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Keywords :   China | Gold | Silica | Silver |

Minco Gold Commences Drilling Program on Its Baimashi North Gold Target and Announces Annual General Meeting Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 3, 2014) - Minco Gold Corporation (MMM.TO)(NYSE MKT:MGH)(MI5.F) ("Minco Gold" or the "Company") is pleased to announce that the Company has started a drilling program on its Baimashi North target located in the Yejiaba region of Gansu Province, China. The drilling program, consisting of 1,200 m core drilling in 6 holes (please see attached map for hole locations), is designed to test a target area of roughly 1,200 m long and 600 m wide with strong gold anomalism as defined by the Company's exploration program last year.

Gold mineralization at Baimashi North is largely hosted within Triassic-age, thin-bedded phyllitic limestone on the hanging-wall side of a major E-W striking, northward dipping thrust fault. Mineralization is concentrated along high angle NE, N-S, and NW trending faults and carbonate veins and displays a strong spatial association with altered syenite and diabase dikes and sills. The gold target can be characterized as a low sulfide, low silica orogenic-type gold system that is dominated by carbonate veining and carbonate (ankerite) alteration. It has a similar geological setting to a number of gold deposits in the surrounding 30 km long Qinling / Yangshan Gold Belt, which contains China's second largest gold endowment with about 308 tonnes gold in six major deposits controlled by a number of Chinese national companies, the largest of which is the Anba Gold Deposit, with about 281 tonnes of contained gold at 4.77 g/t, (reference: Li et al, 2014)*.

The Company conducted an initial exploration program on the property last year comprising detailed geologic mapping, rock sampling, and soil sampling. The 247 rock samples collected within an area of approximately 1,200 m long by 600 m wide run from 0.005 to 47.115 ppm Au and average 1.49 ppm. Channel samples collected from abandoned tunnels by Minco geologists this past May returned 7.5 m (true thickness) averaging 2.133 g/t including a higher grade core of 1.7 m (true thickness) at 5.1 g/t. The Baimashi North target has good potential to host a substantial bulk tonnage gold deposit.

To view the map accompanying this press release, click on the following link: http://media3.marketwire.com/docs/955779f.jpg

Qualified Person - Thomas Wayne Spilsbury, P.Geo, a consultant to Minco Gold, a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release.

The Company reports that the nominees listed in the management information circular for the 2014 Annual General Meeting of shareholders were elected as directors of Minco Gold as well as the approval of the appointment of the Auditors. Detailed results of the vote for the election of directors and auditors held at the Annual General and Meeting on June 26, 2014 in Vancouver, BC, are set out as follows:

Votes for % Votes for Votes
withheld
% Votes
withheld
Ken Z. Cai 5,864,756 93.09 435,285 6.91
Robert Callander 5,849,958 92.86 450,083 7.14
Malcolm Clay 5,835,190 92.62 464,851 7.38
Michael Doggett 5,843,858 92.76 456,183 7.24
Appointment of Auditors 17,920,267 96.85 582,051 3.15

About Minco Gold

Minco Gold Corporation (MMM.TO)(NYSE MKT:MGH)(MI5.F) is a Canadian mining company involved in the direct acquisition and development of high-grade, advanced stage gold properties. The Company owns a 51% equity interest in the Changkeng Gold Project.

The Company also owns a 100% interest in the Longnan projects with 10 exploration permits, located in Gansu Province, China; as well as 11 million shares (approx. 18.45%) of Minco Silver Corporation. For more information on Minco Gold and its properties, please visit the website at www.mincomining.ca.

Forward Looking Statements:

The preceding includes forward looking statements, including plans for the further extension of our exploration program. Actual plans and results of exploration activities may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual plans to differ materially are the Corporation's ability to raise future financing and other risk factors listed from time to time in our SEC reports and our reports filed with Canadian securities regulators. We disclaim any intent to update forward looking information except to the extent required by applicable securities laws.

* Reference made to the gold endowment of the Qinling / Yangshan Gold Belt, this should be considered as an historic estimate, described here as contained gold and grade which is the terminology of the original source. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and the Company is not treating the historical estimate as current mineral resources or mineral reserves. Original reference:

Li, N., Deng, J., Yang, L., Goldfarb, R.J., Lei, S., Koenig, A., and Lowers, H. 2014, Paragenesis and geochemistry of ore minerals in the epizonal gold deposits of the Yangshan gold belt, West Qinling, China. Mineralium Deposita (2014) vol. 49 p427-449.

Read the rest of the article at finance.yahoo.com
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Minco Gold Corporation

EXPLORATION STAGE
CODE : MMM.TO
ISIN : CA60254D1087
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Minco Gold is a gold development stage company based in Canada.

Minco Gold holds various exploration projects in China.

Its main exploration properties are WHITE SILVER MOUNTAIN, GOBI GOLD, GOLD BULL MOUNTAIN, XIAOSHAN GOLD PROJECT, YANGSHAN GROUP (12 ELS) and CHANGKENG in China.

Minco Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 9.9 millions as of today (US$ 7.2 millions, € 6.7 millions).

Its stock quote reached its lowest recent point on July 27, 2001 at CA$ 0.11, and its highest recent level on December 29, 2006 at CA$ 3.17.

Minco Gold has 50 760 000 shares outstanding.

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Annual reports of Minco Gold Corporation
2008 Annual Report
Annual Report 2007
Project news of Minco Gold Corporation
2/18/2009(Changkeng)Minco Continues to Release Excellent Drill Results From Chan...
Corporate news of Minco Gold Corporation
6/30/2016Minco Gold Announces Annual General and Special Meeting Resu...
8/28/2015Minco Gold Provides Corporate Update
7/31/2015Minco Gold Announces Closing Of Sale of the Changkeng Gold P...
6/29/2015Minco Gold Announces Annual General and Special Meeting Resu...
7/25/2014Minco Gold Announces Sale of the Gold Bull Mountain Project
7/3/2014Minco Gold Commences Drilling Program on Its Baimashi North ...
6/2/2014Minco Gold Provide Corporate Update
7/3/2013Announces Annual General and Special Meeting Results
1/9/2013Provides Corporate Update
4/20/2012Commences Exploration Program on its Yejiaba Area
3/30/2012Expands Mineralization at Shajinba and Baimashi Gold Zones, ...
2/3/2012Provides Update on the Tugurige Gold Project
12/13/2011Director Resigns
9/8/2011
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