Gold Mountain Project Update

    RNS Number : 1657X
  Tianshan Goldfields Ltd
  23 June 2008
   




    Tianshan Goldfields Limited
    ("Tianshan" or the "Company")

    GOLD MOUNTAIN PROJECT TAKES STEP FORWARD TO DEVELOPMENT


    
 
�         The Mining Permit application process has been bolstered with the selection of BGRIMM as the lead Chinese Design Institute for the
project
�         The in-country engineering team has been strengthened with the appointment of three experienced senior Chinese engineers
�         The Pre-feasibility study is progressing in line with expectations
�         Drilling at southern Jinxi continuing and Geotech drilling well under way
�         Regional Exploration work this year has further highlighted the prospectivity of the Gold Mountain project tenement area, defining
a further 8 exploration targets with the same structural, lithological & magnetic signatures as Yelmand & Jinxi. 


    Tianshan (ASX/AIM: TGF) hereby provides an update as to the ongoing feasibility and exploration work at its 90% owned Gold Mountain
Project ("GM Project") in northwest China. 

    Mining Licence Application
    The company is pleased to announce that the Beijing General Research Institute of Mining & Metallurgy (BGRIMM) has been selected as the
Chinese Design Institute to undertake the Chinese Feasibility study and to assist the company with the preparation and submission the
Mineral Resource Development and Utilisation Plan (MRDUP) and also the Mining Licence Application.

    BGRIMM has extensive experience working with Western JV companies successfully developing new projects in China, the most recent of
which include the QingHai Tanjianshan Goldmine (Elderado), the Changshanhao Goldmine (Jinshan), the Hebei Hua Ao Caijiaying Zn/Au mine
(Griffin) and the Bayanhar Goldmine (Sino Gold). BGRIMM is expected to commence work on the project before the end of June and the Company
looks forward to the contribution from BGRIMM to the project.



    The Mine Area Scoping Drawings and the Geology and Mineral Resource Report have commenced and are expected to be completed on schedule
for the mining licence application process. 

    Baseline environmental studies continue and the Company has received proposals from appropriate Chinese Design Institutes for the
co-ordination and the compilation of the Geological Hazard Assessment, Seismic Assessment and the Water and Soil Conservation Plan.

    Pre-feasibility Study 
    The basic process plant design and costing study being undertaken by Bateman Engineering is nearing completion and the pit optimisations
have been completed on the Mayituobi, Yelmand and Jinxi deposits with mine scheduling underway.
    A preliminary study has been completed by Yili Prefecture Institute of Highway Reconnaissance and Design for main access road to the
mine site and the Yili Electric Power LLC has completed a study that confirms that power supply for the project can be obtained from the
Xinjiang electrical power grid. 
    Golder Associates have completed a preliminary surface water management and mine water balance for the project, which together with the
water supply study completed by a local Chinese Design Institute will be used to further develop the water supply strategy for the project.
Studies to date indicate that there is sufficient surface water available in close proximity to the project to cater for the projects
requirements.
    Three senior experienced Chinese engineers have joined the Company as the in-country engineering team continues to mobilise for the next
phases of work on the project. 

    Gold Mountain Drilling and Geochemical Sampling Program 

    Near Resource
    Drilling commenced at Gold Mountain around 20 May 2008 with priority at southern Jinxi and geotechnical drilling. The 2nd and 3rd
drillholes have commenced testing for a higher grade feeder zone to the south east of Jinxi, along strike from drillholes DD06JX073 and
DD07JX115 which intersected 59m 1.95 g/t Au and 57m 3.64 g/t Au respectively, results for which are expected during the first half of July.

 Drilling completed on the fourth of five pit slope design geotechnical drill holes at Mayituobi.
    Regional Exploration
    A Geological model that fits the geological histories of the Tulasu Basin and the timing of the controlling structures, as mapped and
observed during the recent exploration program has been completed. This will form the basis to guide future exploration and has highlighted
the prospectivity of the region, defining a further 8 exploration targets with the same structural, lithological & magnetic signatures as
Yelmand & Jinxi.  

    Mr SL Allnutt (AusIMM, MAIG), Chief Geologist of Tianshan Goldfields Limited, compiled the technical aspects of this report relating to
the Gold Mountain Project. Mr Allnutt has sufficient experience that is relevant to the style of mineralisation and type of deposit under
consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2004 Edition of the
Australasian Code for Reporting of Mineral Resources and Ore Reserves. Mr Allnutt consents to the inclusion in the report of the matters in
the form and context in which it appears.

    
              Tianshan Goldfields Limited                  
               Level 22, Allendale Square                  
                 77 St Georges Terrace                     
                     Perth WA 6000                         
             Telephone:     +61 8 9221 7729                
           Fax:               +61 8 9221 7866              
                                                           
                                                           
         Keith Liddell - Non-Executive Chairman            
            Grant Thomas - Managing Director               
        Jason Bontempo - Chief Financial Officer           
                                                           
                                                           
                   WH Ireland Limited                      
                  11 St James's Square                     
                       Manchester                          
                         M2 6WH                            
              Telephone:  +44 161 8322174                  
                                                           
                                                           
                     David Youngman                        
                     Katy Mitchell                         
                                                           




This information is provided by RNS
The company news service from the London Stock Exchange
 
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