Chaarat Gold Holdings Ltd
11 April 2008
Chaarat Gold Holdings Ltd
Chaarat reports promising drilling results on the T0700 Project Area at
the Chaarat Property
Road Town, Tortola, British Virgin Islands (11 April 2008).
Chaarat Gold Holdings Ltd ('Chaarat' or the 'Company') (AIM:CGH) is pleased to
announce further positive drilling results from preliminary prospecting work
undertaken during 2007 on the T0700 Project Area on the Tulkubash Zone at its
100% held, 604 sq km Chaarat Licence Area in western Kyrgyzstan.
T0700 Project Area
The T0700 Project Area is situated on the Tulkubash Zone, the third and most
north westerly mineralised zone at Chaarat. The mineralised zone is delineated
by a four kilometre long gold in soil geochemical anomaly, of which only the
southernmost 500 metres of strike, in the T0700 Project Area, has been drilled
to date. All of the eight diamond drill holes drilled here in the 2007
preliminary drilling programme intersected mineralisation and the results are as
follows:
T0700 Project Area - Drilling Results, 2007
DH number From (m) to (m) length (m) Au g/t
CCH0792 87.00 90.00 3.00 2.75
CCH0792 97.50 99.00 1.50 3.01
CCH0792 201.00 217.50 16.50 1.87
incl 201.00 205.50 4.50 3.82
incl 214.50 217.50 3.00 2.23
CCH0793bis 39.00 73.50 34.50 4.07
incl 49.50 67.50 18.00 5.40
CCH0795 69.00 72.00 3.00 2.78
CCH0795 82.50 90.00 7.50 3.81
CCH0796 110.00 131.00 21.00 2.79
incl 111.50 119.00 7.50 4.42
incl 128.00 131.00 3.00 5.13
CCH0796 269.00 270.50 1.50 2.99
CCH0797 0.00 38.00 38.00 1.96
incl 8.00 27.60 19.50 2.52
CCH07103 141.50 146.00 4.50 2.94
CCH07146 16.50 24.00 7.50 2.49
CCH07146 40.50 43.50 3.00 2.62
CCH07146 115.50 118.50 3.00 9.00
QA/QC PROCEDURES
Sampling Methodology and Quality Control
All samples are sent to a laboratory in Kyrgyzstan, the Central Scientific
Research Laboratory, JSC Kara Balta, (CSRL), accredited by the UK Accreditation
Service, for sample preparation and initial assays. All samples with gold above
1 g/ t are then submitted to Genalysis, Australia, a NATA ISO/IEC 17025
accredited laboratory for analysis by fire assay. Only results received from
Genalysis are included in the Mineral Resource database and the intercept
summaries in this press release.
The 2007 programme represents the first integrated drilling in an area of some
500 metres by 400 metres on the Tulkubash zone and was undertaken simultaneously
with a structural mapping survey in the same area. The work indicates that the
widespread mineralisation is controlled by the intersection of multiple folds in
the Tulkubash quartzites. Drilling in the coming year will add to the
understanding of the mineralisation controls and further probe the extensions to
this mineralisation on this four kilometres long zone.
Comments CEO, Dekel Golan 'We are very pleased with the results of the first
concerted drilling programme on the T0700 Project Area, as it opens up the third
mineralised zone at Chaarat. This is the eleventh project area that has been
drilled within the Chaarat gold district and we are confident that, as drilling
progresses along the four kilometre strike length of mineralisation in the
Tulkubash Zone, the results will augment those from the other ten more advanced
projects on the Main and Contact Zones.'
Competent Person
The Competent Person, with overall responsibility for this press release is Jed
Diner, P.Geo. M.Sc, who is Vice President Exploration for Chaarat. Jed Diner is
an exploration geologist with 27 years experience in the resource industry and
has extensive experience in gold exploration. He is a member of the Association
of Professional Geoscientists of Ontario and has supervised the exploration
programme at Chaarat since 2004.
About the Chaarat Gold Project
The Chaarat project is situated within the Middle Tien Shan Mountains of
Kyrgyzstan which form part of the Tien Shan gold belt. The gold mineralisation
in the district is hosted in sedimentary rocks and is structurally controlled.
At the completion of the 2006 exploration season, a Mineral Resource of 1.87Moz
Au (JORC compliant in the Indicated and Inferred categories) had been delineated
in eight project areas. The Company's exploration programme is aimed at
increasing the confidence levels in this resource through infill drilling, and
increasing the resource through down-dip and strike extension drilling. The
company has drilled eleven project areas in three mineralised zones, the
Contact, Main and Tulkubash Zones, within a six kilometre long area of strike.
In addition, the Company intends to explore the remaining gold occurrences over
the 28 kilometre strike length within the Chaarat Licence Area.
About Chaarat Gold Holdings or the Company
Chaarat Gold Holdings is an exploration company founded for the purpose of
developing its sole asset, the Chaarat License Area. Chaarat was admitted to AIM
on 8 November 2007 and has 71.8 million shares in issue (78.4 million on a fully
diluted basis). The Company is well funded to finance its exploration activities
over the forthcoming year.
Disclaimer
This press release includes forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other important
factors beyond Chaarat's control that would cause the actual results,
performance or achievements of Chaarat to be materially different from future
results, performance or achievements expressed or implied by such forward-
looking statements. Such forward-looking statements are based on numerous
assumptions regarding Chaarat's present and future business strategies and the
environment in which Chaarat will operate in the future. Any forward-looking
statements speak only as at the date of this document. Chaarat expressly
disclaims any obligation or undertaking to disseminate any updates or revisions
to any forward-looking statements contained herein to reflect any change in
Chaarat's expectations with regard thereto or any change in events, conditions
or circumstances on which any such statements are based. As a result of these
factors, the events described in the forward-looking statements in this press
release may not occur either partially or at all.
Enquiries:
Chaarat Gold Holdings Ltd Tel: +44 (0) 20 7499 2612
Dekel Golan - Dekel@chaarat.com
Terry Cross - terry@caserve.co.uk
Canaccord Adams Limited Tel: +44 (0) 20 7050 6500
Mike Jones
Robin Birchall
This information is provided by RNS
The company news service from the London Stock Exchange
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