A district-wide exploration program completed last year has produced followup targets for
The 2,300-metre surface-drilling program will test targets based on a combination of electromagnetic conductors with coincident surface alteration zones and mineralization in a geological setting prospective for deposits of volcanogenic massive sulphides (VMS).
Minco’s White Silver Mountain project includes the downdip and strike extensions of the producing Xiaotieshan zinc-copper mine and rights to the surrounding land package covering at least five known VMS deposits. In addition to milling capacity on-site, zinc and lead smelters exist in the region.
Minco can earn an 80% interest in the property by spending US$4.8 million by late 2003. Teck can earn 70% of Minco’s interest (net 56%) by carrying out development drilling, completing a feasibility study, and arranging financing.
Minco has other projects in China, and is also exploring the Gobi gold project in Inner Mongolia. Last year’s program outlined a large area anomalous in gold and elements commonly associated with gold-skarn systems. A surface exposure 1,000 metres southwest of the main area of known mineralization returned 5.8 grams gold per tonne over 6 metres.
This year’s program will include a structural study of the anomalous area, further bedrock testing into sand-covered extensions of known surface mineralization, and follow-up work on the new discovery.
Minco also plans to carry out a detailed evaluation of four of its additional licenses comprising the Gobi project area.
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