("Foshan Minco") in the Fuwan Silver Deposit, situated along the northeast margin of the Fuwan Silver Belt in Guangdong Province, People's Republic of China ("China").įor further information, please see our 43-101 Technical Reports page and then follow the link to our NI 43-101 Technical Report dated Octoand January 24th 2008. The Company currently has a 90% beneficial interest in the shares of Foshan Minco Mining Co. While capable of reducing mining costs, the company has neither reached agreement with any company nor factored these costs savings into their mine development plans. The Company has been approached by several construction companies from Guangzhou City to purchase the waste material for gravel and construction materials with prices ranging from US$2.50 to US$4.50 per tonne. The adjacent Xijiang River also provides access to the South China Sea, which serves as an international waterway for shipping.Įasy access to a shipping channel also facilitates the disposal of waste rock and carries with it a significant economic benefit. Water and telecommunications are readily accessible and a high-voltage power line crosses the property. Transportation is made easy with a four-lane highway that passes by the property and labour is readily available within the town of Fuwan (pop. Unlike most mining properties, the Fuwan property is one of the few mineral projects with significant infrastructure in place, which is expected to save the company tens of millions of dollars in development costs. Only approximately one-third of the 10 km long Fuwan belt has been explored to date with drilling and there is a good exploration potential to find new resources which could also potentially expand the mine life.* There is potential to expand the reserves if the current indicated resources of 6,857,000 t averaging 173 g/t Ag for 38,203,000 ounces and the inferred resources of 11,290,000 t averaging 174 g/t Ag for 63,283,000 ounces of silver (Changkeng property included) are successfully upgraded. The deposit currently has estimated reserves of 9.118 Mt averaging 189 g/t Ag which is expected to sustain an underground operation, of 3,000 tpd, for a mine life of 9.2 years. The Fuwan silver deposit falls into the broad category of sediment-hosted epithermal deposits and is characterized by 8 zones of vein and veinlet mineralization within structural zones which have wide spread zones of silicification. To date, the Company has only worked on approximately 2.8 km of a 10 km strike length. The first, the Luoke-Jilinggang, is 57.16 km 2 in size and held by Foshan Minco, while the other two permits, the Guyegang permit totaling 55.88 km 2 and the Hecun permit totaling 12.7 km 2, are held by Minco China in trust for Foshan Minco. The Company holds three exploration permits, totaling 125.74 km 2. The property is adjacent to Minco Gold Corporation's Changkeng Gold Property. The Fuwan Silver Project is located in Gaoming Country approximately 45 km southwest of Guangzhou City, the capital of Guangdong Province, and the fourth largest city in China with a population of 13 million people. When you return to the cookie will be retrieved from your machine and the values placed into the calculator.Fuwan Property Overview (click to enlarge photos) Pressing the button will place a cookie on your machine containing the information you entered into the Holdings Calculator. If your browser is configured to accept Cookies you will see a button at the bottom of the Holdings Calculator. The spot price of Gold per Troy Ounce and the date and time of the price is shown below the calculator. Totals for Gold and Silver holdings including the ratio percent of gold versus silver will be calculated. The Current and Future Gain/Loss will be calculated. Optionally enter number amounts for Purchase Price and/or Future Value per unit of weight chosen. The Current Value for the amount entered is shown. The current price per unit of weight and currency will be displayed on the right. If you wish to select a currency other than USD for the Silver holdings calculator. Endeavour arranges 50 million financing and ups bid for Cream Positive feasibility for Minco Silvers Fuwan Groups Scrap Over Sunshine Assets In Idaho The. NOTE: You must select a currency for gold first, even if you don't enter a value for gold holdings. Select Ounce, Gram or Kilogram for the weight. The Holdings Calculator permits you to calculate the current value of your gold and silver.Įnter a number Amount in the left text field.
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