Vancouver Junior Apac Minerals (APC-V) is gearing up to start work on the Nibao gold project in southern China.
Located in the western part of Guizhou province, Niboa hosts disseminated gold mineralization in Permian sediments and volcanics tuffs at the contact with Triassic limestone. The primary area of interest covers a 5-by-1 km area worked by small-scale miners. Previous exploration by the Guizhou province Bureau of Geology and Mineral Resources estimated some 10.5 million tonnes grading 4.1 grams gold per tonne in two mineralized bodies. This calculation does not meet industry standards for resource or reserve estimates. It is also reported that 2 million tonnes of near surface oxide mineralization have been mined.
Sulphide mineralization, comprising mainly pyrite within carbonaceous volcanic tuffs, tuffaceous claystones, bioclastic limestone and jasperoids, generally hosts grades of 4-to-10 grams gold.
Apac aims to target the 8-by-1 km long Erlongqiangbao anticline for "Carlin-style" gold mineralization. A mapping and sampling program is slated to begin shortly followed by a 2,500 metres drill program.
The junior can earn a 70% stake in the 11.4-sq.-km property by spending US$2 million over 3 years. The junior can up its interest to 84% by tabling a positive feasibility study.
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