Juniors obtain licences in China (February 14, 2005)

Vancouver — Several Canadian juniors have obtained the necessary permits to explore, and in some cases develop, mineral properties in China. Among them is Afcan (AFK-T), which owns 85% of the TJS gold project at Tanjianshan in Qinghai province.

Early this year, the company was granted its second mining licence from the Ministry of Land and Resources. The first was for the Jinlonggou deposit; the second, for the Qinlongtan deposit. Both are part of the TJS project, now at the feasibility stage. The company expects to release details of this study shortly, with a view to starting mine construction later this year.

At last report, Jinlonggou had a measured and indicated resource of 6 million tonnes grading 3.64 grams gold per tonne, or 703,000 oz. Qinlongtan is smaller, at 1.16 million tonnes, but higher grade, averaging 8.6 grams gold per tonne, or 323,000 oz.

Afcan’s mining licences are surrounded by four exploration licences containing numerous targets, which will also be tested.

Toronto-based Silk Road Resources (SIL-V) also received its business licence early this year. Such licences allow foreign companies to carry out business, hire employees, and enter into contracts within Chinese state authorities.

At the same time, Silk Road acquired a joint-venture interest in a land package covering 40 sq. km in Gansu province. The area of interest has attracted local miners, who are exploiting small-scale gold deposits.

In southwestern China, Apac Minerals (APC-V) plans to explore its land package in Guizhou province. The work will endeavour to locate Carlin-style gold deposits. Several target areas with this potential have already been identified, and they’ll be tested by trenching programs this spring. Drilling programs will follow, if warranted, by mid-year.