Leyshon Resources (ASX/AIM: LRL), which is focused on developing its Zheng Guang silver/zinc/gold project in north-eastern China, rose 7% this morning after substantially increasing the size of the resource. Leyshon revised the indicated and inferred resource estimate upwards to 1.21 million ounces of gold, 94,000 tonnes of zinc and 3.72 million ounces of silver. This equates to a gold equivalent resource of 1.74 million ounces using a 0.5 grams per tonne cut off, and increase of 43% on the previous estimate.
Leyshon further added that is was continuing work on metallurgy, mine design, approval processes and securing additional licences in the surrounding area.
"The resource upgrade has confirmed that Zheng Guang is emerging as one of China's most exciting new gold projects and gives us very strong encouragement for its immediate development." said Managing Director Paul Atherley.