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Friday, 12th October 2007 (3061 views)

A low-cost open-pit mining operation is being considered at the Gold Mountain project, Tianshan Goldfields has announced.

Results from an ongoing pre-feasibility test at the site have indicated that the project, which is thought to contain 2.8 million ounces of gold, could be fast-tracked into production.

The company reported that continued metallurgical test work has yielded "successful and positive results" at its 90 per cent-owned project, prompting Tianshan Goldfields to consider its project development options once the feasibility study has been successfully wrapped up.

Located in north-western China, the Gold Mountain project currently covers 632 square kilometres and is the company's main development focus.

According to Forbes, the pre-feasibility study is expected to be finished in 2008, with new resource estimates incorporating autumn drilling results at three major deposits on the site scheduled for release by the end of this year.

China is currently the world's fourth-largest gold producing country, according to Tianshan Goldfields.

 

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