Tianshan Goldfields
Tianshan Goldfields Limited Is focused on developing its 90% interest in the Gold Mountain Project in north western China. China is now the fourth largest gold producer in the world.
The Gold Mountain Project consists of exploration licences covering 632 square kilometres and hosts advanced gold deposits and exploration targets with the potential for both large tonnage disseminated gold deposits and narrower higher grade opportunities. The Company currently has a total Indicated and Inferred Mineral Resource estimated at 95 million tonnes at 0.9g/t Au for 2.8 million ounces of gold (at 0.5g/t Au lower cut-off grade).
Tianshan Goldfields provides operational update
Tianshan Goldfields (ASX/AIM: TGF), the gold exploration and development company focused its 90% owned Gold Mountain Project in northwest China, updated investors on progress across a number of fronts.
Firstly, Tianshan confirmed that the Beijing General Research Institute of Mining & Metallurgy had been selected as the Chinese Design Institute to assist the company with its preparation and submission of a Mineral Resource Development and Utilisation Plan and a Mining Licence Application. The Institute has plenty of experience working with western companies, including Griffin Mining and Sino Gold, and is therefore a positive development for Tianshan.
On the mine development front, Tianshan confirmed that baseline environmental studies are continuing, a scoping drawing of the mine area and a geology and mineral resource report have commenced, and the basic process plant design is nearing completion, while the pit optimisations for the Mayituobi and Yelmand deposits are complete and the Jinxi pit optimisation is underway.
A preliminary study has also been completed by Yili Prefecture Institute of Highway Reconnaissance and Design for main access road to the mine site and the Yili Electric Power LLC has completed a study that confirms that power supply for the project can be obtained from the Xinjiang electrical power grid, the company said.
A preliminary surface water management and mine water balance study also indicated that there is sufficient nearby surface water available for the project’s requirements.
On the exploration front, drilling has commenced to test the feeder zone south east of the Jinxi deposit – results are expected to start trickling in towards the end of July. A geological model of the Tulasu Basin is also complete, and has highlighted 8 additional targets.
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Other Tianshan Goldfields news
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26/11/08 Tianshan Gold takes 60 percent in new gold project in Shangdong province
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11/08/08 Tianshan Goldfields renews licences in China
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08/07/08 Tianshan Goldfields quits AIM
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16/05/08 Tianshan Goldfields starts major drilling program
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11/03/08 Interim results underline solid progress at Tianshan Goldfields
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18/02/08 Tianshan Goldfields confirms excellent gold recoveries
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05/02/08 Tianshan Goldfields ups resource to 2.6m oz gold