Friday, 15th February 2008 (2582 views)

A new resource estimate for the CSH 217 gold mine in Inner Mongolia, China, has put the sites gold resources at around 3.9 million ounces of gold, the company behind the project has announced.

Jinshan Gold Mines said the results of the survey for measured and indicated resources totalled 171.3 million tonnes at 0.71 g/t gold for a total of 3.92 million ounces of contained gold.

Inferred resources in estimate are put at an additional 1.33 million ounces of gold contained in 64.3 million tonnes. Taken with previous estimates for the Dadiangou property, this puts total inferred resources at 2.1 million ounces of gold.

Jinshan's president and chief executive Jay Chmelaukas said the results had "nearly doubled" the company's gold resources in China.

He added that with a producing gold mine, a significant resource base and expanding exploration operations, Jinshan was now "uniquely positioned" in China.

According to precious metal consultant GFMS, China is now the world's top gold producer.

 

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