Inter-Citic Minerals Inc.

"ICI's executives have been on the China Road for weeks and weeks now. CEO Jim Moore tells me just now that there is 'nothing specific' he can tell us about the trip. The Dachang Gold Project in eastern China is the only one of the Planetary Prospects I have yet to see. Says former Holy Cross footballer Mr. Moore, 'You are correct that I have been spending a lot of time in Asia. I will be in Hong Kong this weekend and hope that I will be back from the Far East in time to catch you at the PDAC.' My own take is that Inter-Citic is weeks or less away from a major China transaction. I added to my position on Wednesday."
    -   Ticker Trax (02/25/10)

"Inter-Citic has made an important gold discovery outside of their 2.8-million ounce Dachang deposit in China. The new discovery highlights the enormous exploration potential of the large land package held by the company.

A scoping study completed last year shows that the Dachang deposit could be developed at a modest capital cost. With an average grade in excess of 3 grams per ton, an open pit mining operation is projected to produce gold at a cash cost of $404 per ounce.

Other targets on the property identified by surface work are yet to be tested and provide potential for further discoveries. The Inter-Citic property holds the potential for multiple deposits on the scale of Dachang.

The scoping study results are attracting considerable interest to the Inter-Citic project. The company will almost certainly split the established resource out into a separate company, allowing a takeover of the resource while leaving the exploration upside with current shareholders. Such a move could add considerable value in the immediate future, with further gains if a takeover offer does materialize."
    -   Resource Opportunities (02/24/10)

"Then there's Inter-Citic Minerals Inc., which has had its ups and downs, but we've always held on. That's because ICI's Dachang Gold Project really is extraordinary. With many projects, figuring out where to even look for gold is worse than the proverbial needle in a haystack. You start with a gold-in-soil anomaly, which all gold projects have. Just because you find gold at the surface, of course, doesn't mean there's gold below. The surface traces could be the bottom of a system that's been eroded away, leaving nothing at depth. But where Inter-Citic's done detailed trenching—digging through the dirt and scraping the bedrock to see what's actually there—they've had great success. The correlation has been unusually high with the soil anomalies. And when they've drilled, that correlation has again been unusually high between gold on surface and volumes of gold underground—in excess of 90% of the time. As I said: extraordinary.

Better yet, the company has tested only a few of the known areas on their property thus far. So there's a lot of blue sky in that play, and with this unusually high correlation between exploration targets and drill results, that blue sky is more real than in most gold exploration plays."
    -   The Gold Report Interview with Louis James (02/10/10)

"Yesterday, Inter-Citic reported drill results from drill hole CJV-923, which is 9 km northwest of the Dachang Main Zone (DMZ) and roughly 750 meters east of recently reported Drill Hole CJV-914. The hole was drilled along the edge of the east-southeast striking Carbonate Thrust fault, which spans 18 kilometers across the property. The hole was described as 'definitely in interbedded sediments in the thrust as it collared 40 meters south of trench TC-4701, which gave us two sulphide results in a thick section of carbonates.' The results of this hole indicated 3.34 g/t Au over 12.5 meters, remaining open at depth following the loss of the drill bit at 43 meters below surface. The company did not further assess the hole given that this occurred at the end of the 2009 drill season.

. . .Inter-Citic Minerals Inc. continues to post strong drill results from its 2009 exploration program, enhancing the likelihood of further gold discoveries outside the DMZ. Currently, we maintain our SPECULATIVE BUY recommendation and Cdn$1.65 target price on the shares of Inter-Citic Minerals Inc."
    -HAYTHAM HODALY,   SALMAN PARTNERS INC. (01/26/10)

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