Gold in China: Minco Mining & Metals Corporation (MMM) - 500 Beiträge pro Seite
neuester Beitrag 12.06.06 12:12:12 von
Neuigkeiten zur Minco Gold Corporation Aktie
wer an Mining & Exploration in China interessiert ist, sollte sich mal diesen Wert anschauen:
Minco Mining & Metals Corporation (MMM.TO) - nicht zu verwechseln mit MMM@NYSE
Hier mal ein KURZER Überblick. Sorry, wenn ich einige Inhalte einfach nur reinkopiere und aus Zeitgründen nicht übersetze, aber weitere Infos über MMM gibt’s ohnehin nur in englischer Sprache.
MMM - mit Sitz in Vancouver - ist seit 1994 in China aktiv.
Derzeit verfügt MMM über 5 Gold-, 1 Siber- und 2 Basismetallprojekte.
In diesem Jahr wurden die Geschäftsfelder neu strukturiert. Die Silberaktivitäten werden zukünftig in die Minco Silver Ltd . und in die Basismetallaktivitäten in die Minco Base Metals Ltd eingebracht. Die Goldprojekte verbleiben bei MMM.
Weiterhin wurde die Minco Mining (China) Corporation gegründet. Damit ist MMM in der Lage properties in China direkt zu erwerben.
Bemerkenswert ist weiterhin die Zusammenarbeit mit der China National Gold Corporation (CNGC), Chinas größter Goldminen-Company.
...Minco Mining & Metals Corporation is involved in the acquisition, exploration and development of base and precious metal properties in China. In just a few years, Minco has built up a portfolio of high-quality advanced exploration properties, strong operating expertise, and has well-established strategic alliances in becoming a major force in China`s mining industry.
In June 2004, an agreement was signed with a subsidiary of China National Gold Corporation (CNGC), China`s largest gold mining company, enabling Minco to review CNGC`s many gold assets across China. Joint venture negotiations can be entered into for selected advanced exploration properties.
Minco is accelerating evaluation of its priority projects towards feasibility study stages. Through its new subsidiaries and agreements, Minco will be aggressively seeking advanced stage exploration properties in gold, silver and base metals...
JV ownership Minco Investment
Changkeng Gold up to 51% C$8.5M/2yrs
Fuwan Silver up to 70% C$3.5M/2yrs
Anba up to 40% US$2.4M/5yrs
Yangshan Extension up to 75% US$1.2M/4 yrs
BYC (Cantech) (New Cantech can take 51% of Minco’s 75% of JV for C$2.4 million)
Gobi Gold 54% earned
Gansu: White Silver Mtn 61%
Resource estimate by Chinese Government from 22 drill holes:
17-19 million tonnes @ 250-270 grams/tonne silver (or 136-164 million oz silver in situ)
Estimate extends beyond Fuwan Silver JV limits (to SW, S, SE), also into Changkeng JV property 90% silver recoverable through conventional flotation
Das Projekt wird von MMM als Joint Venture mit CNGC (25%) betrieben und wurde in die „Silver Company“ eingebracht.
Phantasie besteht derzeit insoweit, da MMM bereits ein IPO von Minco Silver plant. Zu diesem Zweck wird die Company in naher Zukunft sicher noch mit weiteren properties ordentlich aufgepeppt. Kleiner Wehrmutstropfen: Das Ganze muß natürlich erst mal finanziert werden.
Hier die Unternehmensmeldung dazu:
SIGNIFICANT PROGRESS ON MINCO SILVER
September 20, 2004
Minco Mining & Metals Corporation (TSX: MMM) (“Minco”) announces that further to the Company’s news releases of June 22, 2004 and July 7, 2004, Minco is continuing its efforts to position itself as a major Chinese silver company. The Company has incorporated a wholly owned subsidiary in British Columbia: Minco Silver Corporation (“Minco Silver”).
The Company is working with the Guangdong Geological Exploration and Development Corporation (“GGEDC”) on the completion of the final Sino-Foreign Joint Venture Contract with regard to the Fuwan Silver project. The Company is in the process of obtaining all government approvals including the business license and exploration permits. The Sino-foreign joint venture enterprise will be named the Guangdong Minco Mining Co., Ltd., in which Minco Silver Corporation has the right to earn a 75% interest.
An independent evaluation of the Exploration Permits on the Fuwan Silver Property has been completed. The assessed value of the property is 10.33million RMB (US$1.25 million) which has been confirmed by the Chinese government.
Future Strategic Plans
As described in the above referenced news releases, Minco has now established a corporate structure that allows itself to move its silver projects into a subsidiary while keeping its gold projects (BYC, Gobi, Yangshan, Changkeng) under the main umbrella company, Minco Mining & Metals Corporation.
The Company is considering new industry strategic partners and investors to be part of the Minco Silver. During the next few months, Minco Silver will undertake a private placement and Initial Public Offering (subject to regulatory and shareholder approval), and intends to acquire more advanced silver properties in China to build its silver resource base. The Company currently plans to dividend a significant portion of its holdings in Minco Silver to its shareholders at an appropriate time after the IPO.
This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board, and designated Qualified Person.
Derzeit laufen umfangreiche Bohrprogramme.
Changkeng Gold Project, Guangdong Province
A large exploration program has been planned to delineate the deposit, expand the existing resource base, upgrade the resource estimates and carry out metallurgical testing. The objective of the program is to bring the near-surface, high-grade gold deposit to the feasibility study stage by the fall of 2005.
The Phase 1 Program has commenced with three diamond drills and includes nine diamond drill holes. Two holes will be drilled on the western side of the mineralized area to check the wide mineralized zone previously intersected by the Chinese partner. Two holes will test the continuity of the No 1 Zone and five holes will be drilled between Lines 20 and 40 to test the northeast extension of the gold zone, which was not included in the Chinese resource estimates. A Minco geologist on site supervises the drilling program.
The Phase 2 Program will start immediately after Phase 1 with systematic grid infill drilling to fully delineate the resource and to upgrade resource estimates from Inferred to Indicated or Measured as per CIM guidelines.
Yangshan Extension Properties, Gansu Province
Minco also started exploration programs on the three gold properties on the Yangshan Gold Belt. The most advanced property is the Guanniuwan Licence, which is on strike with and close to Minco’s Anba Joint Venture property. The program, supervised by an on-site MINCO geologist, includes 1:2,000 scale geological mapping, systematic sampling of the gold showings, and significant trenching to define targets for a diamond drill program.
1:10,000 scale soil sampling has commenced on the Guojiagou Licence and 1:50,000-scale stream sediment sampling is ongoing on the Hongyangou Licence. Both these Yangshan Extension licences are at an earlier phase of exploration than Guanniuwan and similarly reveal evidence of artisanal miner activity.
BYC Gold Project, Inner Mongolia
An exploration program, funded by New Cantech Ventures Inc., has commenced under supervision of MINCO’s Consulting Geologist, Peter Folk, P.Eng. Work consists of geophysics, geochemical soil sampling, surface trenching, and geological mapping over the property, which has in excess of 100 gold showings.
A magnetic survey has been completed over the North Zone and results are being compiled. New trenches are being dug across the zone, and sampling has been initiated in a newly discovered gold zone 1.5 km north east of the North Zone and on the same structural trend, where local miners have been active. A drill program will be started in the North Zone in September.
Die Gold-Ressourcen werden derzeit wie folgt angegeben:
Resource estimated by Chinese Government:
3.43 million tonnes @ 7.92 grams/tonne gold (equivalent to 850,000 oz Gold in situ)
Resource estimated by Chinese Government
- 16 million tonnes @ 5.64 g/t Au, average width 5 – 7m
- 91 tonnes Au (approx. 3 Million oz.)
Short term (1-2 years)
Feasibility Study preparation
White Silver Mountain Base Metals (may include partner)
Project delineation and testing for pre-Feasibility Studies
BYC (New Cantech)
Medium Term (2-5 years)
Changkeng Gold/Fuwan Silver
- Anba/Guanniuwan Gold
- White Silver Mountain Base Metals
Feasibility study preparation
- Yangshan Extension Gold properties
- BYC (New Cantech) Gold
- Gobi Gold
- Property Acquisition & Exploration
Derzeit notiert MMM bei 1,40 Can$ (ca. 0,90 EUR). Die Marktkapitalisierung beträgt ca. 43 mCan$.
Am ! 29.09.04, also gestern, wurde eine Kapitalerhöhung über 5 mCan$ zu 1,40 $/Aktie abgeschlossen. Der Kurs wurde bis dahin entsprechend gedeckelt.
Sofern man die Aktie überhaupt charttechnisch beurteilen kann, konsolidiert die Aktie seit dem November-Hoch 2003 in Form eine großen Bullflag.
Die Aktie wird auch unter WKN 908673 in Berlin-Bremen gehandelt. Umsätze finden hier aber so gut wie keine statt. Wird also Zeit.....
Last Trade: 30 Sep 2004 10:22 EDT
Last Traded 1.430 Net Change +0.030
Last Bid Size 20 Volume 18,700
Last Bid Price 1.350 Open 1.400
Last Ask Price 1.430 High 1.430
Last Ask Size 75 Low 1.400
Time Price Shares $ Chng Buyer Seller
10:22 1.430 2,000 +0.030 BMO Nesbitt BMO Nesbitt
10:22 1.420 3,000 +0.020 BMO Nesbitt First Assoc.
10:05 1.420 2,000 +0.020 TD Securities First Assoc.
09:41 1.400 1,700 +0.000 Pictet W.D. Latimer
09:41 1.400 5,000 +0.000 Pictet TD Securities
09:41 1.400 3,300 +0.000 Pictet First Assoc.
09:30 1.400 1,700 +0.000 Canaccord First Assoc.
MINCO AND SILVER STANDARD ANNOUNCE STRATEGIC ALLIANCE ON SILVER IN CHINA
October 05, 2004
Minco Mining & Metals Corporation (Minco) and Silver Standard Resources Inc. (Silver Standard) are pleased to announce that they have entered into a strategic alliance to jointly pursue silver opportunities in China. As recently announced, Minco has created a wholly owned subsidiary, Minco Silver Corporation (Minco Silver) to acquire silver projects in China.
Under terms of the strategic alliance, Silver Standard will invest C$2,000,000 in Minco Silver to acquire a 20% interest in the new venture . Silver Standard will have preferential purchase rights to participate in future financing of Minco Silver in order to increase its interest up to 30% in Minco Silver. As part of the strategic alliance, Minco Silver will be the exclusive entity for both Minco and Silver Standard to pursue silver projects in China.
The board of directors of Minco Silver will comprise five members: two directors nominated by Minco, one by Silver Standard and two independent directors. Mr. William Meyer and Dr. Ken Cai will be the initial Minco appointees, and Mr. Robert Quartermain will represent Silver Standard.
Minco has evaluated many silver projects in China over the past two years and has assembled a large silver database. Currently Minco Silver has the right to earn 70% of the equity interest in the Fuwan Silver project, Guangdong, China. Fuwan Silver has an inferred resource of approximately 160 million ounces of silver in situ, grading 250-270 grams per tonne silver (approx. 7.9 ounces of silver per ton). The shallow dipping deposit is still open to the south west, south and south east.
Silver Standard Resources Inc. is a well-financed silver resource company with core projects in North and South America and Australia. The company currently has scoping, prefeasibility and feasibility studies underway on these core projects. Silver Standard currently has US$36.9 million in cash, 1.95 million ounces of silver bullion currently valued at US$13.3 million and marketable securities currently valued at US$4.3 million. The company continues to seek resource base growth through acquisitions and exploration of its own projects.
Minco is a TSX-listed company focusing on exploration and development of advanced stage gold, silver and base metals projects in China. Minco has continuously been active in China over the past 10 years under the leadership, of Dr. Ken Cai, a Chinese Canadian with a Ph.D. in Mineral Economics from Queens University in Canada. Minco is a leading foreign company in China with extensive contacts, large geological database, and strong operating expertise. Currently, Minco has a large portfolio of high quality gold, silver, and base metals projects. Teck Cominco is one of Minco’s largest shareholders.
Mr. Robert Quartermain, president of Silver Standard adds: “The investment in Minco Silver by Silver Standard provides Silver Standard with exposure in an area where it is not already working, and brings the expertise of Dr. Cai and his resources to the benefit of Minco Silver and Silver Standard shareholders.
“The Chinese economy has grown at an astonishing pace over the past 10 years, with annual silver consumption increasing from 24 million oz to 47 million oz. China appears to have an insatiable demand for all metals and we strongly believe that there will be continued growth in silver consumption. We are very pleased to participate in the Minco Silver strategic alliance in a country that has large silver resource potential with an increasing domestic silver demand.”
Dr. Ken Cai, president and C.E.O. of Minco, comments: “This strategic alliance between Silver Standard and Minco is a very exciting move which will benefit both shareholder groups. A well-funded Minco Silver can move forward with the Fuwan silver project and with the acquisition of other high quality Chinese silver projects. By combining the expertise of the two companies, I am very confident that we will build Minco Silver into a significant pure silver company focused in China.”
... und Die 1,40 Can$ sind endlich überwunden:
Last Trade: 05 Oct 2004 15:58 EDT
Last Traded 1.550 Net Change +0.100
Last Bid Size 15 Volume 150,150
Last Bid Price 1.550 Open 1.550
Last Ask Price 1.600 High 1.700
Last Ask Size 94 Low 1.500
MINCO SILVER ANNOUNCES CDN$3 MILLION FINANCING
October 06, 2004
Minco Mining & Metals Corporation (Minco) is pleased to announce that it’s subsidiary, Minco Silver Corporation (“MSC”) will undertake a non-brokered private placement of 6 million special warrants at $0.50 each for gross proceeds of Cdn$3 million. Four million special warrants have been placed with Minco’s strategic partner; Silver Standard Resources Inc. The other two million special warrants will be issued in accordance with the Public Distribution Policy of the TSX Manual. Each special warrant will entitle the holder, upon the exercise or deemed exercise thereof without payment of any additional consideration, to receive one (1) common share of MSC.
As previously announced (see news release of September 20, 2004) Minco Silver will undertake a listing on The Toronto Stock Exchange, as soon as the financing closes.
Currently, Minco holds 14 million common shares of MSC. Minco plans to dividend a significant proportion of its holdings in MSC to its shareholders at an appropriate time after the public listing. In addition, the Minco board has approved the setting aside of one million shares of MSC from Minco’s holdings as options to Minco’s directors, employees and consultants in Canada and China. Those options will be granted at the same price as the proposed private placement (Cdn$0.50 each). Upon the completion of a prospectus qualifying the special warrants, MSC will have 20 million common shares issued and outstanding.
Tuesday October 12, 2:01 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2004) - Minco Mining & Metals Corporation ("Minco") (TSX: "MMM") is pleased to provide a progress report on its various Chinese properties.
Changkeng Gold, Guangdong Province
Further to the framework joint venture agreement signed in May 2004 (May 17, 2004 News Release), the Company is close to finalizing the definitive joint venture contract (the "JVC") on the property. The next step will be to obtain the business licences and to transfer the exploration permit of Changkeng property to the joint venture. The exploration permit, valid to September 2004, is in the process of renewal with the application submitted by the 757 Exploration Team of the Guangdong Geological Exploration Bureau, in September 2004.
The joint venture partner, the Guangdong Geological Exploration and Development Corp. is also a subsidiary of the Guangdong Geological Exploration Bureau.
Pursuant to the JVC, a Sino-foreign joint venture company will be formed for the project, with total investment of approx. C$16.6 million to be made by the partners on a pro-rata basis over 3.5 years from the date of granting of the business licence. The joint venture company will pay approx. C$5.5 million to acquire 100% property rights from the current vendor. The rest of the funds will be used for exploration, feasibility study and mine development on the Changkeng property. Minco has rights to earn 51% equity interest in the joint venture by contributing approx. C$8.5 million, or 51% of the total investment.
The 9-hole Phase I drilling program has been completed on the property. Assay results have been released on five drill holes, while fire assay results are awaited for the balance of four drill holes.
Fuwan Silver, Guangdong Province
Further to the framework joint venture agreement signed in May 2004 (May 26, 2004 News Release), the Company has signed the definitive joint venture contract (the "JVC") on the property. Obtaining the business licences and transferring exploration permit of Fuwan property to the joint venture will follow shortly. The exploration permit is valid to September 2005 and subject to further renewal.
Pursuant to the JVC, a Sino-foreign joint venture company will be formed for the project, with total investment of approx. C$5 million to be made by the partners on pro-rata basis over 3.5 years from the date of granting of the business licence. The joint venture company will pay approx. C$1.9 million to acquire 100% property rights from the current vendor. The balance of the funds will be used for further exploration on the Fuwan property. Minco has rights to earn 70% equity interest in the joint venture by contributing approx. C$3.5 million, or 70% of the total investment.
Minco plans to start the drilling programs shortly after the exploration permits have been transferred to the joint venture.
Anba Gold project, Gansu Province
Gansu Keyin Mining Co. Ltd., (Keyin), Minco`s White Silver Mountain joint venture company, signed a joint venture agreement in principle in October 2003 on the 3 million oz Anba gold property (November 5, 2003 News Release). Keyin will earn 40% interest in the joint venture through investment of approx. C$4 million over 5 years. The exploration permit, valid until June 2006, is expected to be transferred into the joint venture company once the definitive joint venture contract has been signed and all requisite approvals have been obtained.
Minco plans to start the drilling programs shortly after the exploration permit has been transferred to the joint venture company.
Three Gold Properties on the Yangshan Extension, Gansu Province
Minco signed the definitive joint venture contract in March 2004 (March 29, 2004, News Release). The Company is in the process of obtaining the required government approval, including business licence and transfer of the exploration permits on the three gold properties. Minco has the right to earn 75% equity interest in three properties close to the Anba project, by funding the properties to the feasibility stage. Total initial investment in the joint venture is approx. C$1.7 million, with 75% to be contributed by Minco (approx. C$1.25 million).
The Phase 1 exploration program on the three constituent properties has been completed, including surveying, geological mapping, trenching and sampling. The results are pending. Phase II program will be started shortly.
BYC joint venture, Inner Mongolia
Minco has obtained required approvals to establish the joint venture and has received the business licence. The Company is at the final stage of transferring the exploration permits to the joint venture company. Minco has right to earn 75% interest in the joint venture by contributing approx. C$2.4 million over 4 years. Through a farm-in agreement between Minco and New Cantech Ventures Inc. signed in November 2003, the latter can earn 51% interest in the BYC project by spending C$2.4 million over 3 years.
Detailed geological mapping and trench sampling have been completed over the property September 14, 2004 News Release). Several drill targets have been identified, which lead to current 5-hole drill program. Three drill holes have been completed and fire assay results are awaited. New Cantech is funding 100% of the exploration programs.
Gobi Gold and White Silver Mountain
Minco has earned a 54% interest in the fully licensed joint venture company for the Gobi project by spending approx. C$1.4 million, and can earn up to 75% interest with a total contribution of approx. C$2.8 million. On the White Silver Mountain volcanogenic massive sulphide joint venture, Minco has earned 61% equity interest in the fully licensed joint venture by spending approx. C$3.7 million. Minco can earn up to 80% through a total expenditure of approx. C$6.3 million. Work will resume on both promising projects when priorities permit.
SUBJECT: Posted on Yahoo board Posted By: johnnyash
Post Time: 10/10/04 17:53
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From the Silver Standard Resources (SSRI) board:
Are fledgling silver barons, tomorrow`s leaders?
Dorothy Kosich - `07-OCT-04 03:00`
DENVER--(Mineweb.com) The heads of the pure silver companies were hard to miss at the Denver Gold Forum because they are edgy and provocative. They`re...well, different.
Just by their presence at a "gold" forum, these new millennium "silver barons" defy a truism that when the world`s most powerful currency stumbles, investors will only turn to gold. These invaders of the mining establishment hope their vision of a silver future eclipses the mining industry`s penchant for gold.
No hovering entourages or engaging in small talk within the chummy circle of fellow CEOs for this small, but visionary group. These would-be modern silver barons are genuine men of the people, who are just as happy to chat up the little old lady retail investor as they are the über-fund managers. During their presentations, the standard, SEC-approved canned spiels fashioned by high-powered IR firms are refreshingly absent. These glib men are the emerging new mining leaders, today`s businessmen and entrepreneurs of a very traditional, historic industry.
Mineweb readers are probably familiar with Ross Beaty, the articulate, knowledgeable champion of the upstart Pan American Silver, poised to knock the venerable Coeur d`Alene Mines off its lofty number one pure silver producer perch.
However, also on the path of swift ascent is silver entrepreneur Silver Standard Resources President and CEO Robert Quartermain. As he explained to the analysts and institutional investors attending the Denver Gold Forum, "we`re the story that`s still not quite known."
Unlike Pan American Silver, fellow Vancouver-based Silver Standard (SSO-TSX-V) is more focused on property acquisition and development. Quartermain is already poised on the threshold of opening the doors of China to silver mining. Already slated to address Asian mining professionals at the Third Annual China International Silver Conference this month, Quartermain presented his calling card this week. His company entered into an alliance with Minco Mining and Mining Corporation to jointly pursue silver opportunities in China.
In a news release, Quartermain declared, the Cdn$2 million investment in the newly created subsidiary Minco Silver "provides Silver Standards with exposure in an area where it is not already working" and brings the Chinese exploration expertise of Minco Silver to Silver Standard.
"The Chinese economy has grown at an astonishing pace...with annual silver consumption increasing from 24 million ounces to 47 millions ounces. China appears to have an insatiable demand for all metals and we strongly believe that there will be continued growth in silver consumption," he added.
Ken Cai, President and CEO of Mino, declared that "a well-funded Minco Silver can move forward with the Fuwan silver project and with the acquisition of other high quality silver projects." Minco Silver has the right to earn 70% of the equity interest in Fuwan, which reportedly has an inferred resource of 160 million ounces of silver.
During his presentation to the Denver Gold Forum, Quartermain explained that the urbanization of China "bodes well for silver." For instance, as the U.S. and G-7 nations turn to digital photography, Kodak has revamped its marketing of film and photographic paper to China and India. The electronics and industrial use of silver are now surpassing jewelry manufacturing although the Silver Institute and sister organizations are working hard to create a silver jewelry market in China.
Super Phase 1 Bohrergebnisse heute im Chankeng Projekt mit Goldgehalten zw. 1,86 - 24,38 g/t ... dazu einiges an Silber ... und noch dazu: die Lagerstätte ist in 3 Richtungen offen und bietet Raum für weitere Extensionen.
MMM ist aber derzeit in erster Linie ein Silber play: die Beteiligung von Silver Standard Resources, der geplante Börsengang von Minco Silber in Toronto und vorläufige 140-160 mio oz Ressourcen in Fuwan sprechen für sich.
Die Goldressourcen sind dagegen freilich noch etwas dürftig. Immerhin werden zur Zeit nahezu alle Projekte gleichzeitig weiter vorangetrieben.
Dem Kurs hat heute - trotz hoher Umsätze - die gute Meldung nicht geholfen. Ich denke aber nach erfolgtem Pullback auf den ersten Kursausbruch ist in den nächsten Wochen durchaus das ATH in Reichweite.
Nach unten ist der Kurs durch die Silberbasis selbst bei Rückschlägen in einzelnen anderen Projekten recht gut abgesichert. Viel billiger - wenn überhaupt - wird MMM wohl nicht mehr zu bekommen sein, es sei denn, es geht `ne Menge schief.
Press Release Source: Minco Mining and Metals Corporation
Minco Mining & Metals Corporation: Drill Results Confirm Potential of Changkeng Gold
Thursday November 11, 5:32 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 11, 2004) - Minco Mining & Metals Corporation ("MINCO") (TSX:MMM - News) is pleased to report fire assay results from the completed Phase I drilling program at its Changkeng Gold project in Guangdong Province, China. All the holes were drilled vertically and true widths of the intersections have not yet been established. The Phase 1 program confirmed results both of the previous Chinese drilling and also the continuity of the No.1 Zone along the synclinal structure towards the east and south.
Of particular significance is the eastern extension of the deposit where hole JZK4001 revealed strong gold values in an open area. In a previous drill program, the Chinese partner had drilled a hole ZK4802, approximately 1,000 metres east of the deposit area, which encountered a 127.59 metre thick mineralized alteration zone assaying 1.24 grams per tonne of gold (by the atomic absorption method), with a higher grade section running at an average of 3.85 grams per tonne gold over 11.99 metres.
Assay results of the first three drill holes in the Changkeng Phase 1 Program were announced in a news release on August 4, 2004. These assays had been carried out by the atomic absorption method. All samples over 0.1 gram per tonne gold in the Phase 1 Program were subsequently re-assayed by the fire assay method, which is generally accepted in the minerals industry to be more accurate for gold grade estimation. Re-assay results on these first three drill holes have revealed that the fire assay results are consistently higher than those of the previously published atomic absorption results. The Chinese laboratory has explained that the lower atomic absorption results had resulted from incomplete digestion of gold in the sample preparation process. Furthermore, check fire assays were undertaken on randomly selected samples in labs both in China and Vancouver, and closely matched the fire assay results from the Chinese laboratory.
Assay results as published previously for drillholes JZK0101, JZK0401 and JZK0601 have been re-stated respective to the fire assays. In addition, fire assay results are presented for new drill holes JZK0102, JZK2001, JZK2002, JZK4001.
The holes are drilled on a north west-south east grid approximating the dip direction of the mineralized zone. A sketch plan of the Changkeng drill holes and drill section lines will be provided on the Minco website (www.mincomining.ca) November 12th and will include a description of the sample preparation, assay procedures and check assay results.
Changkeng Gold Project Fire Assay Results
Final Interval Fire Assays
Depth Intersection (m) (grams per Comment
(m) (m) tonne)
Hole From To Gold Silver
Previously reported by the atomic absorption method,
but now re-stated by fire assay
JZK0401 152.28 95.96 98.68 2.72 1.85 4.75 Fill-in hole to south
106.14 147.53 41.39 7.90 12.54
Including: 122.54 129.14 6.60 24.38 22.53
JZK0601 106.18 31.66 32.76 1.10 2.89 5.78 Extension to south
43.57 44.47 0.90 1.62 4.87
80.64 94.58 13.94 5.84 7.50
JZK0101 66.66 30.25 37.78 7.53 9.11 38.47 Open area to west
41.27 44.37 3.20 1.73 4.38
New drill hole results (fire assay)
JZK0102 119.82 77.73 82.54 4.81 3.21 35.91 Open area to west
92.50 114.77 22.27 5.58 12.59
Including: 99.69 103.60 3.91 14.01 26.98
JZK2001 102.80 76.15 76.72 0.57 2.90 6.67 Extension to east
JZK2002 252.27 212.88 223.78 10.90 3.96 8.23 Extension to SE
JZK4001 205.80 132.65 133.78 1.13 3.12 Not assayed Extension to fareast
136.08 136.83 0.75 1.86 13.22
Summary of Phase 1 Drill Program
Holes drilled close to previous Chinese drill holes have confirmed the quality of the earlier grid-drilled programs
The deposit is open in 3 directions:
- to the south (down dip), confirmed by hole JZK0601
- to the east along the plunge of the synclinal structure, (JZK2002 and the previous hole, ZK4802)
- to the west (around JZK0101, JZK0102)
Phase 2 Program
The Phase 2 drill Program is being planned to extend the resource base in the directions indicated by the Phase 1 Program. Drilling then will be concentrated on filling in the grid to a 40 metre by 40 metre spacing for preparation of an upgraded resource estimate. Down hole engineering studies will be carried out on selected drill holes.
Current status of Changkeng Gold and Fuwan SilverJoint Venture agreements Definitive Joint Venture contracts have been signed on both projects and have been submitted to the Chinese government for final approval. A comprehensive technical database is being constructed on both deposits.
Dr. Ken Cai, President and CEO comments: "We are tremendously excited by the potential of Changkeng Gold. The Phase 1 results have confirmed the high grade nature of the known deposit, and now we have identified open areas to the west, south and east of high grade mineralization. This gives us the opportunity to add significantly to the resource estimates. We are pressing ahead with the Phase 2 drill Program as a top priority."
This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board, and designated Qualified Person.
Ein schönes Wochenende
aus dem stockhouse board:
SUBJECT: China`s Secret Silver Solution
Posted By: siempre33
Post Time: 11/18/04 13:23
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David Morgan`s latest [Nov.17] mentions only TWO silver miners in his article....one of them is Minco....very exciting news to come for silver mining in China!....
[CHINA`S SECRET SILVER SOLUTION; Initial Report; David Morgan - November 17, 2004]
Minco Defines a Major Gold Anomaly on its Goujiagou Property
Wednesday December 1, 11:43 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 1, 2004) - Minco Mining & Metals Corporation (TSX:MMM - News; "Minco" or the "Company") is pleased to announce that the Company has completed the phase I exploration programs on its three gold properties on the Yangshan gold belt located in Gansu, China. The Phase I exploration programs, focusing on three license areas: Guanniuwan (GNW), Hongyangou (HYG), and Guojiagou (GJG), consist of surface mapping, geochemical sampling, and surface trenching.
At Goujiagou (GJG), a soil sampling program on a 100m by 40m grid has been conducted. 2412 soil samples were collected and assayed for Au, Ag, As, Sb, Bi, Hg, Cu, Pb, Zn, and W. A very strong gold anomaly, about 4km long and 400m to 1000m wide , is delineated by using a 40 ppb gold cut-off. This east west trending gold anomaly is along the altered contact zone between Triassic limestone and fine clastic sediments and an elongate granodiorite intrusion. Several soil samples yielded over 4g/t gold . In addition, strong and coincident As and Sb anomalies were also delineated along the contact zone.
Minco has started a trenching program on the property to follow up this strong gold anomaly with immediate success in outlining a gold zone, with values of 1 to 6g/t gold over 7 meters. This is a preliminary result only from examining a very small area within the anomalous zone. More detailed trenching results will be released once Minco receives them.
Results from the Phase I exploration programs on the other two properties, Guanniuwan (GNW) and Hongyangou (HYG), are pending. Since there are extensive surface gold showings on the GNW property, an underground aditting program is currently under way.
Dr. Ken Cai, President & CEO comments: "We are very encouraged by the results and immediate success at the GJG property. The three gold properties on the Yangshan extension have similar geological setting, alternation, and style of gold mineralization as those of the nearby Anba deposit (3 million ounce). Minco will conduct an aggressive exploration program in 2005 to follow up this major gold anomaly discovered on the GJG property."
This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board and designated Qualified Person.
Date: January 20, 2005
Silver Standard Eyes China Through Strategic Alliance With Minco Silver
By Our Canadian Correspondent
Robert Quartermain has clearly done a stupendous job creating wealth for shareholders of Silver Standard Resources. In less than a decade, he has grown the fledgling company from a C$5 million junior exploration company into a silver powerhouse with a C$680 million market value.
During this period, Silver Standard put together a portfolio of 15 properties, six of which, are considered priority projects, having a combined resource of 23 million ounces of silver and 105,000 ounces of gold. Overall, the company holds 508.4 million ounces of silver in the measured and indicated category, along with 2 million ounces of gold resources, plus another 446.1 million ounces of silver in inferred resources.
The bulk of these resources were picked up when the silver price was low and no one else wanted them. Well, several of these low ball acquisitions are now at the feasibility stage, namely the Shafter project in Texas, the Candeleria property in Nevada, Bowdens in New South Wales, and in Argentina, the Pirquitas, Diablillos and Manantial Espejio projects. In fact, a feasibility study on Manantial Espejo is expected to be complete during the first quarter of 2005 with an anticipated annual production of 4 million ounces of silver.
At Pirquitas, Silver Standard recently picked up the 56.6 per cent stake it did not already own by issuing 2.66 million shares. A 2000 feasibility study envisioned annual production of 10.6 million ounces of silver at a US$2.70 per ounce operating cost. The project has already benefited from a $26 million feasibility study paid for by Sunshine Mining. The capital costs for the mine were originally estimated at $133 million.
Moving over to the Shafter project in Texas, where Goldfields spent $20 million on 5,000 feet of underground development and a shaft. Silver Standard envisages a 2.09 million ounce per year silver operation with capital costs ringing in at $15 million. In Mexico, La Pitarrilla is rapidly moving up the priority list following a 137-drill hole program that boosted the estimated 50 million ounces of resources to 60.2 million ounces.
With 51.27 million shares issued, US$36.2 million in cash, 1.95 million ounces of silver bullion, marketable securities currently valued at US$3.9 million and nominal debt, the Vancouver-based company is now looking to China for future growth prospects.
Late last year, Canadian-listed Minco Mining & Metals Corporation and Silver Standard entered into a strategic alliance to jointly pursue silver opportunities in China. To do this, Minco created a wholly-owned subsidiary, Minco Silver. Under terms of the deal, Silver Standard put C$2 million into Minco Silver for a 20 per cent stake and has preferential purchase rights to participate in future financing to increase its interest up to 30 per cent. Through Minco Silver, Quartermain is aiming to open the doors of China to silver mining. Robert has long been a firm believer that the urbanization of China is good news for silver and his reasoning is sound because while the U.S. and G-7 nations turn to digital photography, which results in less silver use, Kodak has revamped its marketing of film and photographic paper to China and India. In fact, the electronics and industrial use of silver are now surpassing jewelry manufacturing.
Minco has evaluated many silver projects in China over the past two years and has assembled a large database. In fact, under the helm of Dr. Ken Cai, Minco has continuously been active in China over the past 10 years. Ken is a Chinese Canadian with a Ph.D. in Mineral Economics from Queens University in Canada. Minco Silver, itself, will come to the market with some of the most experienced guys in the junior exploration business. William Meyer and Ken Cai will represent Minco, while Robert Quartermain will represent Silver Standard. Also jumping on board is Wade Dawe, CEO of new market darling Linear Gold.
The company’s flagship property is a 70 per cent equity interest in the Fuwan project located in Guangdong, China. Fuwan has an inferred resource of approximately 160 million ounces of silver, grading 250-270 grams silver per tonne. The shallow-dipping deposit is still open to the southwest, south and southeast.
Minco Silver has already completed a non-brokered private placement of 6 million special warrants at $0.50 each for gross proceeds of C$3 million. Each special warrant will entitle the holder to one share of Minco Silver. Four million special warrants were placed with Silver Standard. At the end of the day, Minco will have 20 million shares outstanding.
The Company currently plans to dividend a significant portion of its holdings in Minco Silver to its shareholders at some point after the initial public offering, which is slated for the first quarter of 2005.
By combining the silver expertise of Silver Standard with the Chinese background of Minco Mining, Minco Silver is well positioned to become the dominant pure silver company focused in China.
Minco outlines significant gold anomalies on the Yangshan gold belt, China
Minco Mining and Metals Corporation updated its exploration activities on its gold projects on the Yangshan gold belt in Southern Gansu Province, China. A regional mapping and detailed stream sampling program was completed over an area of 913 Sq km with 3036 stream sediment samples collected. The program is focused on 13 wholly owned exploration licenses in the Qinling Gold Triangle on or near the Yangshan Gold Belt. 45 zones anomalous in gold (Au), silver (Ag), antimony (Sb), or arsenic (As) have been identified in three groupings of licences.
Yangshan project area
The geochemical data in Minco's stream sediment sampling program at the northeast extension of the Anba gold deposit, outlines 20 composite anomalies of Au, As, Sb or Ag which have been delineated in the survey area. The gold anomalies coincide with strong As and Sb values located in a Devonian clastic rock unit closely associated with a regional arcuate fault structure. The structural and geological setting and geochemical features of these anomalies are comparable to those of the known areas of gold mineralization along the Yangshan gold trend.
Yejiaba project area
14 composite anomalies in stream sediment samples have been delineated in the Yejiaba project area, a belt parallel to and north of Yangshan. The largest composite anomaly, the Madigou anomaly, is 23 square kilometres in area and characterized by coincident Au, Ag, As, and Sb values.
Xicheng project area
Xicheng Project Area is located at the east extension of the well-known Xicheng Pb-Zn metallogenic belt northeast of Yejiana. 11 composite anomalies have been delineated in the project area. The largest anomaly is about 16 square kilometres in area and consists of coincident Au, Ag, Pb and Zn values. For the Xicheng East area as a whole, good potential for gold, silver, lead and zinc is indicated.
Ten of the most significant anomalies characterized by coincident Au, Ag, As & Sb values in favourable geological terrains have been selected for the first-round follow-up. The follow-up program has been initiated and will be completed in approximately mid August. Targets generated by the detailed follow-up programs will be trenched and/or drill tested in the second half of 2006.
The samples above were analyzed for Au, Ag, As. Sb, Bi, Cu, Pb, Zn, W, Mo, Ba and Hg at the central lab of the Institute of Geophysical and Geochemical Exploration in Langfang, Hebei province. Analytical quality was controlled by inserting reference samples and duplicate samples in each 20-sample batch.
The Company also acknowledges the resignation of Mr. Robert S. Tyson as Vice President Corporate Development and wishes to thank Mr. Tyson for his contributions to the Company during his tenure.
This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board, and designated Qualified Person.
Minco Mining and Metals Corporation is listed on the Toronto Stock Exchange and the American Stock Exchange. The Company has a portfolio of high quality mineral projects in China and continues to evaluate a number of gold, base metal, rare earth and specialty metals projects in China.
Source: Press Release
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