|July 14, 2004|
MINCO STARTS AGGRESSIVE EXPLORATION PROGRAMS IN CHINA
|Minco Mining & Metals Corporation ("MINCO") (TSX: "MMM") is pleased to announce details of its 2004 exploration programs following recent announcement of its strategic plans.|
Changkeng Gold Project, Guangdong Province
A large exploration program has been planned to delineate the deposit, expand the existing resource base, upgrade the resource estimates and carry out metallurgical testing. The objective of the program is to bring the near-surface, high-grade gold deposit to the feasibility study stage by the fall of 2005.
The Phase 1 Program has commenced with three diamond drills and includes nine diamond drill holes. Two holes will be drilled on the western side of the mineralized area to check the wide mineralized zone previously intersected by the Chinese partner. Two holes will test the continuity of the No 1 Zone and five holes will be drilled between Lines 20 and 40 to test the northeast extension of the gold zone, which was not included in the Chinese resource estimates. A Minco geologist on site supervises the drilling program.
The Phase 2 Program will start immediately after Phase 1 with systematic grid infill drilling to fully delineate the resource and to upgrade resource estimates from Inferred to Indicated or Measured as per CIM guidelines.
Yangshan Extension Properties, Gansu Province
Minco also started exploration programs on the three gold properties on the Yangshan Gold Belt. The most advanced property is the Guanniuwan Licence, which is on strike with and close to Mincos Anba Joint Venture property. The program, supervised by an on-site MINCO geologist, includes 1:2,000 scale geological mapping, systematic sampling of the gold showings, and significant trenching to define targets for a diamond drill program.
1:10,000 scale soil sampling has commenced on the Guojiagou Licence and 1:50,000-scale stream sediment sampling is ongoing on the Hongyangou Licence. Both these Yangshan Extension licences are at an earlier phase of exploration than Guanniuwan and similarly reveal evidence of artisanal miner activity.
BYC Gold Project, Inner Mongolia
An exploration program, funded by New Cantech Ventures Inc., has commenced under supervision of MINCO's Consulting Geologist, Peter Folk, P.Eng.
Work consists of geophysics, geochemical soil sampling, surface trenching, and geological mapping over the property, which has in excess of 100 gold showings. A magnetic survey has been completed over the North Zone and results are being compiled. New trenches are being dug across the zone, and sampling has been initiated in a newly discovered gold zone 1.5 km north east of the North Zone and on the same structural trend, where local miners have been active. A drill program will be started in the North Zone in September.
This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board, and designated Qualified Person.