Skip to main content

Market Overview

Cigma Metals Corporation Announces the Completion of a Maiden Inferred Resource Estimate on Three Major Prospects, Beskauga, Quartzite Gorka and Berezki East of the Dostyk Project in Kazakhstan: 3,022,066 Ounces Gold and 427,564 Tonnes Copper With Credits

Share:

ALMATY, KAZAKHSTAN--(Marketwire - August 14, 2009) - Cigma Metals Corporation (the "Company,"
"Cigma") (PINKSHEETS: CGMX) (FRANKFURT: C9KA) is pleased to announce the
completion of a maiden Inferred resource estimate on three major prospects,
Beskauga, Quartzite Gorka and Berezki East of the Dostyk project in
Kazakhstan: 3,022,066 ounces gold and 427,564 tonnes copper with credits
for silver and molybdenum.

Beskauga, Quartzite Gorka and Berezki East are three out of ten prospects
situated on the Dostyk License of 2,776 sq km.

Cigma carried out an intensive exploration drilling program during 2007 &
2008 (Table 1). The drilling campaign on all project areas was intended to
explore continuity for the mineralization zone along strike and dip and
resulted in new findings. The Company is very encouraged by drill results
and believes that all prospects have great potentials.

Table 1: Summary of 2007-2008 Drilling Program

Diamond Drill Total Meters
Prospect Holes Drilled Drilled
-------------- --------------
Berezki East 12 3,945
Beskauga 22 6,048
Quartzite Gorka 20 5,645
-------------- --------------
Total 54 15,638
============== ==============

Berezki East Prospect

The drilling confirmed over 420 meters of continuity for the mineralization
zone along strike with an average width of approximately 50 meters and
reaching 80 meters in places. It has been traced down to a depth of 350
meters and remains open both on strike and depth. The oxidation zone
extends from surface down to 40 meters and could be suitable for
free-milling and heap-leach gold-copper extraction.

The best results include:

-- 112m at 1.61g/t gold equivalent from surface in drill hole Bz6,
including 17.2m at 4.8g/t gold equivalent
-- 136m at 1.15g/t gold equivalent from 30m in drill hole Bz14, including
52m at 2.6g/t gold equivalent

Beskauga Prospect

The drilling led to a discovery of two large mineralization zones within
aureole of hydrothermal alteration on area over 7 km2. The drilling
confirmed over 2,000 meters of interrupted continuity for each
mineralization zone along strike with an average width of approximately 200
meters for the eastern zone and 60 meters for the western zone. The
gold-copper mineralization remains open on both ends of the zones and to
depth.

The best results include:

-- 193.4m at 1.6g/t gold equivalent from 45.1m in drill hole Bg3,
including 66.7m at 2.52g/t gold equivalent
-- 263.9m at 0.9g/t gold equivalent from 42.4m in drill hole Bg1,
including 71.9m at 1.08g/t gold equivalent
-- 282m at 0.9g/t gold equivalent from 37.1m in drill hole Bg16,
including 52.8m at 1.08g/t gold equivalent

Quartzite Gorka Prospect

The drilling program was intended to explore both the lateral and vertical
extension of the gold-copper mineralization controlled by north-west
trending zone of hydrothermal alteration. The drilling confirmed over 750
meters continuity of mineralization along strike with an average width of
approximately 50-70m. The gold-copper zone remains open both to south-east
and to north-west.

The best results include:

-- 119m at 1.0g/t gold equivalent from 38m in drill hole Q19
-- 143.6m at 1.75g/t gold equivalent from 106m in drill hole Q10
-- 78m at 1.46g/t gold equivalent from 85m in drill hole Q1

In the first part of 2009 the Company saw the completion of the first round
of the Australasian Joint Ore Reserves Committee (the "JORC") code
compliant Resource statements - see Table 2.

Table 2: Summary of the Resources

Cu Mo
Prospect Au (Oz) (Tonnes) Ag (Oz) (Tonnes)
---------- ---------- ---------- ----------
Berezki East 288,886 15,835 636,316 -
Beskauga 2,380,644 368,484 10,342,519 30,598
Quartzite Gorka 352,536 43,245 3,508,898 -
---------- ---------- ---------- ----------
Total 3,022,066 427,564 14,487,733 30,598
========== ========== ========== ==========

Primary Geology and Infrastructure

All deposits are situated within large-scale gold-copper-porphyry systems.
The deposit areas are composed of strongly hydrothermaly altered volcanic
and intrusive rocks with numerous geochemical gold-copper anomalies. The
gold-copper mineralisation is associated with pyrite and chalcopyrite
within wide-spread zones of chlorite-epidotic alteration. The deposits
belong to a gold-copper-porphyry type of mineralization, which is found in
over 70% of the world's copper resources. This type of mineralization is
characterized by large dimensions and relatively low grades. Since 1980
several gold-copper mines world-wide have been producing copper-gold
concentrates from ores grading 0.5g/t to 1.0g/t of gold equivalent. The ore
resources of such deposits usually extend hundreds of million tonnes.

The Dostyk project of 2,776 km2 (Figure 1) is located in the North Eastern
region of Kazakhstan near to the Russian and Chinese border. Infrastructure
is just perfect with sealed roads and railways crossing the license area.
Power lines with voltage up to 1,150 kW cross the project area. The region
has been mined for gold, base metals, nickel, coal and others.

Cigma Metals Corporation is a mineral exploration company focusing on the
exploration and development of its mineral exploration property located in
the Pavlodar province of Kazakhstan and its two exploration properties in
the Tomsk province of Russia. All the project areas were selected due to
their proximity to a well-developed infrastructure, known mineral
occurrences and from historical records of gold and base metals
production. The Company's stock is quoted for trading in the United States
of America on the OTC Pink Sheets under the symbol "CGMX.PK," and under the
symbol "C9KA.F" on the Frankfurt Exchange, in Germany.

For further information please contact Agustin Gomez de Segura:

Address: 18, 80 Furmanova Str, Almaty, Republic of Kazakhstan
Telephone: Almaty Office +7 327 2611 026
Website: http://www.cigmametals.com

ON BEHALF OF THE BOARD

"Agustin Gomez de Segura"
Agustin Gomez de Segura
President, CEO and Director

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that plan for or anticipate the
future, called "forward-looking statements." In some cases, you can
identify forward-looking statements by terminology such as "may," "will,"
"should," "could," "expects," "plans," "intends," "anticipates,"
"believes," "estimates," "predicts," "potential" or "continue" or the
negative of those terms and other comparable terminology.

These forward-looking statements appear in a number of places in this press
release and include, but are not limited to, statements about: our market
opportunity; revenue generation; our strategies; competition; expected
activities and expenditures as we pursue our business plan; the adequacy of
our available cash resources; our ability to acquire properties on
commercially viable terms; challenges to our title to our properties;
operating or technical difficulties in connection with our exploration and
development activities; currency fluctuations; fluctuating market prices
for precious and base medals; the speculative nature of precious and base
medals exploration and development activities; environmental risks and
hazards; governmental regulations; and conduct of operations in politically
and economically less developed areas of the world.

Many of these contingencies and uncertainties can affect our actual results
and could cause actual results to differ materially from those expressed or
implied in any forward-looking statements made by, or on behalf of, us.
Forward-looking statements are not guarantees of future performance. These
cautionary statements qualify all of the forward-looking statements made in
this press release. Specific reference is made to our most recent annual
report on Form 10KSB and other filings made by us with the United States
Securities and Exchange Commission for more detailed discussions of the
contingencies and uncertainties enumerated above and the factors underlying
the forward-looking statements. These reports and filings may be inspected
and copied at the Public Reference Room maintained by the U.S. Securities &
Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can
obtain information about operation of the Public Reference Room by calling
the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S.
Securities & Exchange Commission also maintains an Internet site that
contains reports, proxy and information statements, and other information
regarding issuers that file electronically with the U.S. Securities &
Exchange Commission at http://www.sec.gov/.

We disclaim any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except to the extent required by applicable laws.

This press release is for informational purposes only and is not and should
not be construed as an offer to solicit, buy, or sell any security.

 

Related Articles (D + F)

View Comments and Join the Discussion!