Business
Bluebird Accesses Kochang & Interim Report
Bluebird Accesses Kochang & Interim Report.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \nRNS Number : 1906G Bluebird Merchant Ventures Limited 28 February 2018 \n\n28 February 2018\n \nBluebird Merchant Ventures Ltd\n(the \"Company\" or \"Bluebird\")\nBluebird accesses the Main Vein at Kochang less than a month after taking on the Project & publication of Interim Report & Accounts to 31 December 2017\nBluebird Merchant Ventures (EPIC: BMV), the Asian focused resource development group is pleased to provide an update on the recently signed Kochang project. The Company has also published its Interim Report and Accounts for the half year ended 31 December 2017 on the company website.\nHighlights:\n· Rapid progress at newly signed Kochang mine achieved\n· Excellent ground conditions and open development discovered\n· Cost of just USD 17 per metre to open up Kochang thus far\n· Publication of the Interim Report & Accounts for the half year ended 31 December 2017\n· Both Gubong and Kochang are being funded led by Bluebird CEO, Colin Patterson \nThe Company is pleased to update on the excellent progress that already has been made at the Kochang mine so quickly after announcing that it signed the farm in agreement with Southern Gold, announced on 12 February 2018.\n \nBluebird has now gained access to the lowest level of the old mine, which is approximately 150 metres on ore below surface. The last time anyone was in the mine is believed to have been in 1975 when the gold price was only USD 140/oz. Bluebird took just four weeks to dewater the mine and, having opened a small collapse in the main adit, mining engineers where able to examine all the tunnels on this level. Three veins were previously developed with some stoping done on each of them. The inclination of the veins is approximately 40 degrees. All the development was found to be open. The extent of the development on this level is approximately 3 kilometres. Ground conditions are excellent. The process of mapping and sampling the veins is expected to commence in about two weeks. \n \nTo date the project has cost under USD 50,000 which approximates equates to only USD 17 per metre opened. The cost of new development would have been approximately USD 3,000 per metre. The...