Sino Gold Mining Limited (Sino) is an Australia-based company. The principal activities of the Company are mining and processing of gold ore, and sale of recovered gold, and exploration and development of mining properties. The Company mined 692,000 tons of ore through open-cut mining during the year ended December 31, 2007. At December 31, 2007, Sino had acquired a 94% interest in Golden China Resources Corporation. The operation in Jinfeng Mine achieved commercial production on September 1, 2007. A total of 449,000 tons of ore were treated during 2007, with an overall recovery of 71.9% producing 56,981 ounces of recovered gold. In 2007, 43,483 ounces of gold were sold. As of December 31, 2007 the 230 meter of underground development was achieved in White Mountain. Compulsory acquisition of Gold China Resource Corporation was completed on January 16, 2008.
Sino Gold (ASX:SGX/SEHK Code:1862) has released an initial Eastern Dragon Ore Reserve of 2.0 million tonnes at 8.4g/t gold and 70g/t silver, containing 0.5 million ounces gold and 4.4 million ounces silver.
Highlights of recent work:
- Approximately 90% of Measured and Indicated Resources convert to Ore Reserves.
- Initial Eastern Dragon Mineral Resource totals 3.4 million tonnes at 7.1g/t gold and 66g/t silver, containing 0.8 million ounces gold and 7.2 million ounces silver.
- Potential to increase the resource through further drilling, especially of the recently discovered second mineralised vein (Lode 5-1).
- Initial 25% interest acquired in the surrounding 53 km2 Exploration Licence.
- Sino Gold aims to bring Eastern Dragon into production as quickly as possible to become Sino Gold’s third operating mine.
Sino Gold Chief Executive Officer, Jake Klein said, "our work during 2008 has confirmed that Eastern Dragon is a very valuable gold deposit that is both high grade and straight forward to develop into a very low-cost mining operation.
“The quality of the deposit is demonstrated by 90% of Measured and Indicated Resources converting to Ore Reserves. Further drilling will be undertaken during 2009 with the aim of both upgrading and extending the resource, with the mineralisation primarily remaining open to the north.
“The very attractive project economics have been detailed in the recently completed Chinese Feasibility Study (“CFS”). The high silver grade of the orebody provides significant revenue to supplement the gold revenue. Including these silver credits, Eastern Dragon cash operating costs are estimated to be only US$100 per ounce.
“Our team is continuing to progress the required permitting and further studies that are aimed at enabling the Sino Gold Board to commit to develop the Eastern Dragon Project during 2009 to become Sino Gold’s third operating mine as rapidly as possible.” Sino Gold was trading at $4.95.
by Proactive Investors
Sino Gold (ASX:SGX/SEHK Code:1862) has released an initial Eastern Dragon Ore Reserve of 2.0 million tonnes at 8.4g/t gold and 70g/t silver, containing 0.5 million ounces gold and 4.4 million ounces silver.
Highlights of recent work:
- Approximately 90% of Measured and Indicated Resources convert to Ore Reserves.
- Initial Eastern Dragon Mineral Resource totals 3.4 million tonnes at 7.1g/t gold and 66g/t silver, containing 0.8 million ounces gold and 7.2 million ounces silver.
- Potential to increase the resource through further drilling, especially of the recently discovered second mineralised vein (Lode 5-1).
- Initial 25% interest acquired in the surrounding 53 km2 Exploration Licence.
- Sino Gold aims to bring Eastern Dragon into production as quickly as possible to become Sino Gold’s third operating mine.
Sino Gold Chief Executive Officer, Jake Klein said, "our work during 2008 has confirmed that Eastern Dragon is a very valuable gold deposit that is both high grade and straight forward to develop into a very low-cost mining operation.
“The quality of the deposit is demonstrated by 90% of Measured and Indicated Resources converting to Ore Reserves. Further drilling will be undertaken during 2009 with the aim of both upgrading and extending the resource, with the mineralisation primarily remaining open to the north.
“The very attractive project economics have been detailed in the recently completed Chinese Feasibility Study (“CFS”). The high silver grade of the orebody provides significant revenue to supplement the gold revenue. Including these silver credits, Eastern Dragon cash operating costs are estimated to be only US$100 per ounce.
“Our team is continuing to progress the required permitting and further studies that are aimed at enabling the Sino Gold Board to commit to develop the Eastern Dragon Project during 2009 to become Sino Gold’s third operating mine as rapidly as possible.” Sino Gold was trading at $4.95.
by Proactive Investors
Posts
No comments:
Post a Comment
loan709@yahoo.com