Chaarat Gold Regulatory News (CGH)

11 Apr 2008 07:00

Chaarat Gold Holdings Ltd11 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 toannounce further positive drilling results from preliminary prospecting workundertaken during 2007 on the T0700 Project Area on the Tulkubash Zone at its100% 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 mostnorth westerly mineralised zone at Chaarat. The mineralised zone is delineatedby a four kilometre long gold in soil geochemical anomaly, of which only thesouthernmost 500 metres of strike, in the T0700 Project Area, has been drilledto date. All of the eight diamond drill holes drilled here in the 2007preliminary drilling programme intersected mineralisation and the results are asfollows: T0700 Project Area - Drilling Results, 2007 DH number From (m) to (m) length (m) Au g/tCCH0792 87.00 90.00 3.00 2.75CCH0792 97.50 99.00 1.50 3.01CCH0792 201.00 217.50 16.50 1.87incl 201.00 205.50 4.50 3.82incl 214.50 217.50 3.00 2.23CCH0793bis 39.00 73.50 34.50 4.07incl 49.50 67.50 18.00 5.40CCH0795 69.00 72.00 3.00 2.78CCH0795 82.50 90.00 7.50 3.81CCH0796 110.00 131.00 21.00 2.79incl 111.50 119.00 7.50 4.42incl 128.00 131.00 3.00 5.13CCH0796 269.00 270.50 1.50 2.99CCH0797 0.00 38.00 38.00 1.96incl 8.00 27.60 19.50 2.52CCH07103 141.50 146.00 4.50 2.94CCH07146 16.50 24.00 7.50 2.49CCH07146 40.50 43.50 3.00 2.62CCH07146 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 ScientificResearch Laboratory, JSC Kara Balta, (CSRL), accredited by the UK AccreditationService, for sample preparation and initial assays. All samples with gold above1 g/ t are then submitted to Genalysis, Australia, a NATA ISO/IEC 17025accredited laboratory for analysis by fire assay. Only results received fromGenalysis are included in the Mineral Resource database and the interceptsummaries in this press release. The 2007 programme represents the first integrated drilling in an area of some500 metres by 400 metres on the Tulkubash zone and was undertaken simultaneouslywith a structural mapping survey in the same area. The work indicates that thewidespread mineralisation is controlled by the intersection of multiple folds inthe Tulkubash quartzites. Drilling in the coming year will add to theunderstanding of the mineralisation controls and further probe the extensions tothis mineralisation on this four kilometres long zone. Comments CEO, Dekel Golan "We are very pleased with the results of the firstconcerted drilling programme on the T0700 Project Area, as it opens up the thirdmineralised zone at Chaarat. This is the eleventh project area that has beendrilled within the Chaarat gold district and we are confident that, as drillingprogresses along the four kilometre strike length of mineralisation in theTulkubash Zone, the results will augment those from the other ten more advancedprojects on the Main and Contact Zones." Competent Person The Competent Person, with overall responsibility for this press release is JedDiner, P.Geo. M.Sc, who is Vice President Exploration for Chaarat. Jed Diner isan exploration geologist with 27 years experience in the resource industry andhas extensive experience in gold exploration. He is a member of the Associationof Professional Geoscientists of Ontario and has supervised the explorationprogramme at Chaarat since 2004. About the Chaarat Gold Project The Chaarat project is situated within the Middle Tien Shan Mountains ofKyrgyzstan which form part of the Tien Shan gold belt. The gold mineralisationin the district is hosted in sedimentary rocks and is structurally controlled.At the completion of the 2006 exploration season, a Mineral Resource of 1.87MozAu (JORC compliant in the Indicated and Inferred categories) had been delineatedin eight project areas. The Company's exploration programme is aimed atincreasing the confidence levels in this resource through infill drilling, andincreasing the resource through down-dip and strike extension drilling. Thecompany has drilled eleven project areas in three mineralised zones, theContact, Main and Tulkubash Zones, within a six kilometre long area of strike. In addition, the Company intends to explore the remaining gold occurrences overthe 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 ofdeveloping its sole asset, the Chaarat License Area. Chaarat was admitted to AIMon 8 November 2007 and has 71.8 million shares in issue (78.4 million on a fullydiluted basis). The Company is well funded to finance its exploration activitiesover the forthcoming year. Disclaimer This press release includes forward-looking statements. Such forward-lookingstatements involve known and unknown risks, uncertainties and other importantfactors beyond Chaarat's control that would cause the actual results,performance or achievements of Chaarat to be materially different from futureresults, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerousassumptions regarding Chaarat's present and future business strategies and theenvironment in which Chaarat will operate in the future. Any forward-lookingstatements speak only as at the date of this document. Chaarat expresslydisclaims any obligation or undertaking to disseminate any updates or revisionsto any forward-looking statements contained herein to reflect any change inChaarat's expectations with regard thereto or any change in events, conditionsor circumstances on which any such statements are based. As a result of thesefactors, the events described in the forward-looking statements in this pressrelease may not occur either partially or at all. Enquiries: Chaarat Gold Holdings Ltd Tel: +44 (0) 20 7499 2612Dekel Golan - Dekel@chaarat.comTerry Cross - terry@caserve.co.uk Canaccord Adams Limited Tel: +44 (0) 20 7050 6500Mike JonesRobin Birchall This information is provided by RNS The company news service from the London Stock Exchange