Business
Operational Update at Gubong Mine
Operational Update at Gubong Mine.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \nRNS Number : 5158S Bluebird Merchant Ventures Limited 03 October 2017 \n\n3 October 2017\n \nBluebird Merchant Ventures Ltd\n(the \"Company\" or \"Bluebird\")\nOperational Update at the Gubong Mine\nOver 17,000 Metres of Historical Exploration Drilling Examined to Augment Future Planning\nBluebird Merchant Ventures (EPIC: BMV), the Asian focused resource development group, is pleased to announce that work undertaken at Gubong Mine in South Korea has progressed to the point where the company can start to develop conceptual future production plans.\nThe main access points to the mine have been selected for further civil work to provide permanent entrances to the project. Whilst data analysis and research is ongoing, sufficient historical data has been analysed that has enabled the Company to develop a 3D model of the Gubong Mine that will form the basis for developing a production plan. \nTwo major factors which are relevant to this work are old drill hole results on the property and the Resource announced by state owned enterprise, Korean Resources Corporation (KORES) of 2.34Mt @ 7.3g/t. The Company cautions that KORES resource numbers are not JORC resources but also note that the methodology is logical and deals with some aspects required to declare JORC resources. \n \nHistoric Drill holes at Gubong\nFifty-seven historic drill holes have been drilled at Gubong and the surrounding areas for a total of 17,715.3 metres. The drilling covers the period from 1968 to 2015; with 3 holes drilled in 1968, 2 holes in 1969, 25 holes in 1989, 12 holes in 1990, 8 holes in 1991, 2 holes in 2004, 1 hole in 2012 and 4 holes in 2015. \nDrill hole downhole depths varied from 9m to 950m, with an average depth of 321.8m. All drill holes were drilled by Korea Resources Corporation (KORES), except the 2012 and 2015 drill holes which were drilled by Southern Gold Korea predecessor, Hee Song Metals.\nEighteen drill holes contained significant intersections greater than 1g/t Au, and these are tabled below.\nThe Company notes that the drill results are very encouraging. The fact that a significant percentage of the holes have returned economic grade is typical for an Orogenic deposit as they are highly variable in mineralisation and intersecting structure is considered almost as important as grade for delineat...