Chinese focused mining junior Central China Goldfields (AIM: GGG) reported assays results from a rock chip/float/grab sampling program at the Nimu Copper Project in Tibet. Combined with a geological mapping program, the company stated that eight target areas where identified that contained high grade copper and molybdenum samples. As a result of the findings, the company has decided to switch emphasis in 2007 to Nimu; two drill rigs have been contracted to begin drilling in the 2nd quarter.
Managing Director Jeff Malaihollo added: “These are very encouraging results which confirmed the presence of copper-molybdenum-gold mineralisation in Nimu. In the six months since we signed the joint venture, we have moved from prospective ground to identifying eight target areas and now to a stage where we are ready to drill two of the targets”.
Central China Goldfield’s surprised investors with the change in focus, however as previously reported by Proactiveinvestors the company believes Nimu has the potential to host a company making copper deposit.
Central China Goldfields switches focus to Nimu Copper Project
Last updated: 09:06 26 Jan 2007 GMT, First published: 10:06 26 Jan 2007 GMT