Business
Kochang Mine - Mineral Potential
Kochang Mine - Mineral Potential.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \nRNS Number : 8210H Bluebird Merchant Ventures Limited 20 November 2018 \n\n20 November 2018\nBluebird Merchant Ventures Ltd\n(the \"Company\" or \"Bluebird\")\nKochang Mine - Mineral Potential\nBluebird Merchant Ventures (LSE: BMV), the Asian focused resource development group, is pleased to announce an update on the Kochang gold and silver mine.\n \nHighlights:\n· Initial Mineral Potential of between 550,000 and 700,000 tonnes derived from a small area\n· Range of grades between 5.2 g/t to 6.6 g/t of gold and 27.3 g/t and 34.8 g/t of silver\n· Underground drill targets identified in close proximity to the three main veins\n \nBluebird has completed a review of all data to date, related to the Kochang Gold and Silver mine. As a result it has derived an initial estimate of the mineral potential available for the redevelopment of the mine. The development of this mineral potential used historical plans, production statistics, recent surface exploration mapping and sampling, historic drilling, 3D computer modelling, and recent underground surveying and grab/channel sampling.\nThe total estimate of the mineral potential is between 550,000 and 700,000 tonnes, with a range of grades between 5.2 g/t to 6.6 g/t Au, and 27.3 g/t to 34.8 g/t Ag. The grades and grade profile were based on the underground sampling programme carried out this year, augmented by recent surface sampling results. The tonnage range is 40% to 50% of the calculated total tonnage which is the same percentage as that of significant results obtained by sampling (RNS 23 May 2018).\nThe recent work carried out covers an extremely small area with obvious underground drill targets in close proximity to the three main veins. The deposit is open along strike and to depth. The company intends to commence an underground drilling programme, along with further mapping and channel sampling in other historic workings in early to mid 2019. This programme will lead to further refinement and expansion of the mineral potential and enable conversion to a mineral resource as defined by internationally accepted codes.\nWe note that this estimate has cost just USD 230,000. As we have previously noted, very few exploration projects ever become mines so having been undergrou...