Business
Publication of Competent Persons Report
Publication of Competent Persons Report.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \nRNS Number : 9769C Bluebird Merchant Ventures Limited 26 January 2018 \n\n26 January 2018\n \nBluebird Merchant Ventures Ltd\n(the \"Company\" or \"Bluebird\")\nPublication of Competent Persons Report\nBluebird Merchant Ventures (EPIC: BMV), the Asian focused resource development group is pleased to announce the publication of an independent Competent Person's Report on its extensive Gubong project and other opportunities in South Korea.\nHighlights\n· Gubong, which was historically the second largest gold mine in South Korea, still offers a potential resource of greater than 1 million oz of gold\n· Satellite ore bodies could furthermore contain a further 300,000 oz of gold\n· Gubong has 9 granted tenements covering an area of some 25 square kilometers \n· This area has more than 9 stacked gold veins which were only partially extracted over the life of the mine because of the relatively low gold price (less than USD40)\n· Metallurgical test work has now commenced at Gubong\n· Report recognizes the huge potential of reopening the mine with the prospect of being able to delineate an immediate resource without the need for expensive exploration\nThe Competent Persons Report was undertaken by Geoff Boswell, MSEG, AusIMM, CPP Geology, who visited the Gubong project at the end of 2017. \nThe Report notes that Bluebird \"Re-entering the underground workings will allow access to the mining faces and unstoped remnant ore that may contain economic ore at today's gold price.\" This will provide an immediate resource and an initial mine production plan. Bluebird is also encouraged that the Report recognizes the huge potential of reopening the mine both with the prospect of being able to delineate an immediate resource without the need for expensive exploration as well as the potential for a resource of greater than 1 million oz of gold.\nThe Report outlines the potential of the tailings area which was surveyed to be 143,042 m3. This can be quickly evaluated through drill holes and metallurgical study.\nOver the past few months Bluebird has gained initial access to the mine and recently announced on 9 January 2018, sampling results of gold and silver that were very encouraging. Whilst the c...