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Kochang Permit to Develop and Gubong Mine Update
Kochang Permit to Develop and Gubong Mine Update.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \nRNS Number : 5108S Bluebird Merchant Ventures Limited 12 March 2019 \n\n12 March 2019\nBluebird Merchant Ventures Ltd\n(the \"Company\" or \"Bluebird\")\nKochang Permit to Develop Application Submitted and Gubong Mine Update\nBluebird Merchant Ventures (EPIC: BMV), the Asian focused resource development group, is pleased to announce that the application for the 'permit to develop' the Kochang Mine was submitted on 8 March 2019.\nHighlights:\n· Application submitted for 'permit to develop' Kochang Mine\n· Response to Gubong 'permit to develop' application expected around 23 March\n· KORES application success expected in March\nKochang Mine Update\nThe Kochang Mine area is currently held under the name of Geochang Project Co. Ltd (the Joint Venture company). The application for the 'permit to develop' the Kochang Mine will enable the mine to enter the construction and production phases. The application is a technical document and will be in the public domain for a period of forty working days. \nThe Kochang Mine previously operated from 1928 to 1975. The gold price at the time of closure was USD140/oz. The area mined was only to a depth of 150 metres. This type of deposit typically extends to one kilometre in depth, which is one indication of the potential of the mine. \nKORES grant application update\nThe Company announced on 6 February 2019 that an invitation was given by the South Korean government owned Korea Resources Corporation (\"KORES\") to apply for a drilling grant. This application was submitted on 30 January 2019. KORES personnel have undertaken two site visits to review the planned underground drill programme and the Company remains confident that the application will be accepted this month. The purpose of the assisted drilling programme is to support mining activity. The success criteria of the scheme is that the supported programmes result in operating mines.\nGubong Mine Update\nThe Gubong Mine is currently held in the name of the Joint Venture Company, Gubong Project Co Ltd. An application for a 'permit to develop' the mine was submitted on 23 January 2019. Taking into account the Korean New Year Holidays, the company expects to receive a response a...