Cigma Metals Corporation Announces Maiden Resources of 619,000 Ounces of Gold Equiv at the Quartzite Gorka Gold-Copper Deposit, Kazakhstan

• Press Release
• Source: Cigma Metals Corporation
• On 6:15 pm EDT, Thursday March 19, 2009

ALMATY, KAZAKHSTAN--(MARKET WIRE)--Mar 19, 2009 -- Cigma Metals Corporation (the "Company," "Cigma") (Other OTC:CGMX.PK - News) (Frankfurt:C9KA.F - News) is pleased to announce a maiden Inferred Resource for the Quartzite Gorka prospect in Kazakhstan.

Related Quotes Symbol Price Change C9KA.F 0.34 +0.00 {"s" : "c9ka.f,cgmx.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""}

 
HIGHLIGHTS

--  Quartzite Gorka Deposit is a part of large-scale gold-copper-porphyry
    mineralization system
--  Quartzite Gorka Deposit resources of 32.11 million tonnes grading at
    0.6g/t gold equivalent based on current prices for 619,000 ounces of
    gold
    or
    --  0.34 g/t for 352,536 oz of contained gold
    --  3.398 g/t for 3,508,898 oz of contained silver
    --  0.13% for 43,245 tonnes of contained copper
--  Deposit remains open along strike and at depth - aggressive exploration
    campaign continues

During 2008 the Company completed 20 Diamond Drill Holes (DDH) for a total of 5,300 meters with an average drill hole depth of 270 meters. 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 the 750 meters continuity of the 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 mineralization zone is characterized by the steep dipping. It has been traced from the surface down to a depth of 400 m and remains open. The mineralization zone usually maintains the consistent width from the top to the bottom and varies from 30 to 120 meters (Figure 3).

The Australasian Joint Ore Reserves Committee (the "JORC") code compliant resources have been based on a 0.20 g/t natural lower gold cut-off grade defined by the statistical analysis and were estimated by Micromine Pty Ltd. The estimate is based on the results of Cigma's drilling and sampling campaign which extended the previously defined mineralized zones, discovered new mineralized zones and validated historical sampling data from Soviet exploration programs. 26 drill holes and 2 trenches both recent and historic were included for the resource estimation. A summary of the resource estimate is presented in Table 1 and more detailed notes are provided at the end of this announcement.

 
Table 1: Summary of the Resources for the Quartzite Gorka Deposit


Au Cut
 Off       Oxide    Tonnes   Au     Ag    Cu    Au Metal  Ag Metal    Cu
From       Zone     '000 t   g/t    g/t    %       Oz        Oz     Tonnes
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh  28,977  0.357  3.411  0.14   332,678 3,177,547    39287
0.0       Oxidised   3,137  0.197  3.285  0.13    19,858   331,351    3,958
             Total  32,114  0.341  3.398  0.13   352,536 3,508,898   43,245
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh  26,603  0.384  3.576  0.15   328,170 3,058,580   38,760
0.1       Oxidised   1,540  0.343  5.581  0.19    16,973   276,404    2,979
             Total  28,143  0.381  3.686  0.15   345,143 3,334,984   41,739
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh  20,371  0.454  4.094  0.17   297,168 2,681,446   34,959
0.2       Oxidised   1,031  0.439  7.366  0.23    14,541   244,181    2,353
             Total  21,402  0.453  4.252  0.17   311,709 2,925,627   37,312
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh  13,224  0.566  4.889  0.21   240,530 2,078,683   28,138
0.3       Oxidised     539  0.621  10.81  0.32    10,766   187,303    1,738
             Total  13,763  0.568  5.121  0.22   251,296 2,265,986   29,876
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh   8,129  0.705  5.463  0.27   184,163 1,427,709   22,045
0.4       Oxidised     370  0.747  13.21  0.36     8,889   157,093    1,318
             Total   8,499  0.707    5.8  0.27   193,052 1,584,802   23,363
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh   5,749  0.811  5.673  0.30   149,928 1,048,570   17,425
0.5       Oxidised     290  0.830  15.23  0.38     7,737   142,043    1,102
             Total   6,039  0.812  6.133  0.31   157,665 1,190,613   18,527
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh   4,175  0.910  5.699  0.32   122,153   765,104   13,339
0.6       Oxidised     224  0.911  17.26  0.39     6,570   124,401      880
             Total   4,399  0.910  6.288  0.32   128,723   889,504   14,219
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh   3,023  1.009  5.871  0.34    98,100   570,648   10,228
0.7       Oxidised     174  0.987  19.44  0.41     5,508   108,449      713
             Total   3,197  1.008  6.607  0.34   103,608   679,097   10,941
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh   2,159  1.114  6.078  0.36    77,334   421,887    7,707
0.8       Oxidised     141  1.040  21.01  0.43     4,731    95,548      605
             Total   2,300  1.110  6.996  0.36    82,065   517,435    8,313
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh   1,574  1.213  6.405  0.38    61,391   324,110    5,921
0.9       Oxidised     100  1.118  22.33  0.45     3,610    72,115      450
             Total   1,674  1.207   7.36  0.38    65,001   396,225    6,371
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh   1,151  1.311  6.828  0.40    48,496   252,665    4,553
1.0       Oxidised      68  1.199  22.85  0.46     2,620    49,927      313
             Total   1,219  1.304  7.722  0.40    51,116   302,592    4,866
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh     613  1.505  7.691  0.40    29,631   151,447    2,435
1.2       Oxidised      26  1.375     31  0.59     1,165    26,285      156
             Total     639  1.499  8.653  0.41    30,796   177,732    2,591
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh     325  1.696  8.248  0.41    17,721    86,167    1,322
1.4       Oxidised      10  1.554  38.67  0.71       475    11,824       68
             Total     335  1.692  9.114  0.42    18,196    97,991    1,390
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh     176  1.870  9.509  0.37    10,569    53,748      651
1.6       Oxidised       3  1.739  32.09  0.62       197     3,631       22
             Total     179  1.867  9.952  0.37    10,766    57,379      673
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh      78  2.088  9.652  0.30     5,243    24,237      232
1.8       Oxidised       1  2.261  50.12  0.85        44       983        5
             Total      79  2.089  9.967  0.30     5,287    25,220      237
------ ----------- ------- ------ ------ ----- --------- --------- --------
             Fresh      35  2.345  9.023  0.19     2,638    10,151       67
2.0       Oxidised       1  2.261  50.12  0.85        44       983        5
             Total      36  2.343  9.731  0.20     2,682    11,134       72
------ ----------- ------- ------ ------ ----- --------- --------- --------

Quartzite Gorka Deposit - Primary Geology and Infrastructure

Quartzite Gorka is a part of a large-scale K-OZEK gold-copper-porphyry system with total area of 15km2 (Figure 2). The K-OZEK area is composed by strongly hydrothermaly altered volcanic and intrusive formations with numerous geochemical gold-copper anomalies. The gold-copper mineralization is associated with pyrite and chalcopyrite within wide-spread zones of chlorite-epidotic alteration. Beside Quartzite Gorka the K-OZEK area comprises five other high-prospective gold-copper deposits with exploration potential over three million ounces of gold equivalent. K-OZEK mineralization is a typical gold-copper-porphyry system with usually large dimensions and relatively low grades. The ore resources of such systems normally extend hundred of million tonnes.

The Dostyk project of 14,000 km2 (Figure 1) is located in the North Eastern region of Kazakhstan near the Russian and Chinese border. Infrastructure is just perfect with roads and railways crossing the license area. The region has been mined for gold, base metals, nickel, coal and others. Power lines with voltage up to 1,150 kw cross the project area.

Resource Modeling Methodology

1. Database Compilation

The supplied data consisted of:

 
--  6 historic drill holes
--  20 recent drill holes
--  2 trenches

2. Classical Statistical Analysis

The classical statistical analysis was performed for gold values, since gold is the major element and is the primary interest of the exploration program. The analysis demonstrated no mixing grade populations and distinct population at 0.20 cut off.

3. Interpretation

Grade composites were created for the selected cut off grade to assist with the interpretation. The composite intervals were displayed along the drill hole traces and used for the interpretation. The minimum composite length was selected as 1 m, and the maximum consecutive interval of waste material was selected as 3 m.

Interpretation was carried out interactively for about 13 cross sections.

4. Wireframing

The interpreted strings were used to generate three-dimensional solid wireframes for the mineralized envelopes.

5. Analytical data selection and compositing

Drill hole data selection is a standard procedure which ensures that the correct samples are used in the classical statistical and geostatistical analyses and grade interpolation processes. For this purpose, the solid wireframes for each mineralized envelope were subsequently used to select the drill hole samples. Samples were selected for individual mineralized envelopes and flagged accordingly.

Classical statistical analysis was then repeated for those gold grades within the mineralized envelopes. The analysis did not demonstrate any gold grade mixing.

6. Block Modeling

Block modeling included several stages. Firstly, the empty block models were created within the closed wireframe models for the mineralized envelopes for the cut off grade. The resultant models were subsequently coded and added together into a single model file. The block model was then restricted with the topography (DTM) surface and all the model cells above the surface were deleted from the model file.

7. Grade Interpolation

All element grades were interpolated into the empty block model using the Inverse Distance Weighting method. Due to the different spatial gold distribution in the oxidation and the fresh zones the grade interpolation was performed for each zone individually.

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.

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.

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     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