View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
August 3, 2009

Sino Forms Joint Venture for Chinese Exploration Project

China’s Sino Gold Mining has formed a joint venture with Jilin Non-Ferrous Metals Brigade 602 covering an exploration licence north-east of Sino's White Mountain mine in China. Sino Gold will initially acquire a 75% stake for $2.25m over three years, with an initial payment of $1.4m. Th

By cms admin

China’s Sino Gold Mining has formed a joint venture with Jilin Non-Ferrous Metals Brigade 602 covering an exploration licence north-east of Sino’s White Mountain mine in China.

Sino Gold will initially acquire a 75% stake for $2.25m over three years, with an initial payment of $1.4m. This stake can be further increased to 95%.

The new licence, which includes the Dongdapo prospect, is spread across an initial area of 29km2 and is along strike from the White Mountain mine.

The joint venture will significantly enhance the company’s near-mine exploration programme, Sino Gold CEO Jake Klein said.

“Our aim is to add significant value by discovering gold deposits within trucking distance from our new White Mountain processing facility,” Klein said.

Ground adits at the Dongdapo prospect have been previously carried out by Brigade 602.

High-grade gold mineralisation, contained in a silicified marble breccia, has been identified which is similar to that found at White Mountain, Sino Gold said.

Sino Gold plans to begin an exploration programme once the deal has been finalised, with drilling scheduled to begin in the first half of 2010.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology