Business
Key Permission at Gubong Mine Granted
Key Permission at Gubong Mine Granted.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \nRNS Number : 6909I Bluebird Merchant Ventures Limited 21 June 2017 \n\n21 June 2017\n \nBluebird Merchant Ventures LTD\n(the \"Company\" or \"Bluebird\")\nKey Permission at the Gubong Mine granted\nBluebird is pleased to announce that the formal procedure granting land access to the Gubong mine in South Korea has been granted today, some 3 weeks earlier than projected. The permit allows for ingress to the Gubong mine. In addition, agreement has also been granted by the Government Safety Department on the activity to be undertaken.\nThe Gubong mine closed in 1967 when the gold price was USD 35.50 per pounce and was nominally the second largest gold mine in South Korea. The mine is known to have 9 different veins with production coming from 6 of them over 60 years until its closure. There are over 50km of level development accessed by 2 vertical shafts and 6 incline shafts. Bluebird considers that the Gubong mine is its flagship project. \nWith the permission granted today, Bluebird now has the clearance to work at site and commence an evaluation of the viability to bring the mine back into production. The evaluation itself will take 6-9 months and will encompass Resource Estimation, Mining methodology, Metallurgical Process, costing and potential returns. \nCEO, Colin Patterson said: \"We are delighted to receive this approval for our project and we look forward to updating the market at regular intervals over the next 6 to 9 months.\"\nOur partners, Southern Gold, have commenced the community relations program at the county level and have established an excellent relationship with the Mayor's Office of Cheongyang. At the request of the Mayor a request for co-operation has been submitted by Southern Gold and has since been officially ratified by the Cheongyang County Government.\nOur second potential project at Taechang has progressed with all available data being digitized and a computer model created. Access to the site was at an advanced stage when additional information was found which indicated that what we thought was the complete mine area was, in fact, merely a part of a far larger gold bearing area. More investigative work will need to be undertaken to assess the size of the potential project. \nPhilippine news\nThere have been recent development...