The rescuers have retrieved 34 bodies so far and six miners were pulled out alive from Wednesday night to Friday morning, the search and rescue headquarters told state run Xinhua news agency.
A total of 154 miners were working underground when the blast hit the Xiaojiawan Coal Mine in Panzhihua City at around 6 pm on Wednesday.
104 of them either managed to escape on their own or were pulled out of the shaft, they said, adding that three miners died on their way to hospital.
Four hospitals in Panzhihua had received 54 miners so far, including 10 who were seriously injured and seven in critical condition, the provincial health department said.
Of the injured, 50 miners suffered from carbon monoxide poisoning and the other four suffered burn-related injuries, the health department said.
Most of the injured are in stable condition.
More From This Section
The coal mine, situated some 750 kilometres south-west of the provincial capital of Chengdu, is owned by Zhengjin Industry and Trade Company Limited.
Three owners of the mine have been taken into police custody and the mine's accounts have been frozen.
An investigation into the accident is underway.
Meanwhile, provincial authorities have ordered a thorough probe and overhaul on coal mines and other hazardous businesses, the Xinhua report said.