Business
News on Joint venture with China - Stellar Pacific Ventures Inc adds new properties in Henan Province with Ganshu Mines area
News on Joint venture with China - Stellar Pacific Ventures Inc adds new properties in Henan Province with Ganshu Mines area.
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"\n\n\n\n\nLAVAL, Quebec, May 3 /CNW Telbec/ - The Company and the Government of\nLuoning County in the province of Henan has agreed to join their forces with a\nSino Joint Venture to increase the efficiency of the mining management and the\nbeneficial returns to both parties by strengthening financial cooperation and\nthe exchange of technology between both countries. They will also establish a\nstrong joint cooperation toward the goal of acquiring new mining properties\nand the development of existing medium sized gold mining projects in China.\nBy this Sino Joint Venture, Stellar Pacific Venture has been giving the\nright to explore and mine the Maying Gold Mines and the Ganshu Gold Mines\nproperties. This joint venture gives Stellar Pacific Ventures Inc. a strategic\nadvantage for the acquisition of new mining properties and opportunities in\nthe province of Henan - a province with one of the highest potential gold\nresources in China.\nMaying gold mines is located in Maying village and Dizhang Xiang in the\ncounty of Luoning and has 16 known auriferous zones, one of theses zones have\nbeen evaluated by Chinese geologists to contain 172,736 tons of ore at a grade\nof 6.08 gr/ton.\nGeologically, the Maying Gold Mine is located in the south margin of the\nNorth China Craton. This margin is the locus of the second largest gold\nconcentration and production region of China, where more than 1000 gold-\nbearing quartz veins are present.\nMaying Gold Mine owns all infrastructures including a 150 tons/day\ncapacity ore concentration plant. The sector has water supply, sewage system,\nelectric services, and a good access road.\nGanshu Gold Mines properties are located next to Maying gold mine and are\nmining in the same main shear zone to the west. Ganshu gold mines have 350\ntons/day ore concentrations plants and had produced 85,867 ounces of gold to\ndate.\nMinister of Gold has giving Stellar Pacific Ventures its entire\ncooperation to facilitate the creation of the Joint Venture and further\naccommodations required during the transfer of Licenses and permits.\nThe company will send in the coming weeks and independent geologist to\nevaluate the Ganshu Mines properties and prepare an exploration program.\nThe company looks forward to complete and operate the Joint Venture\nCompany by the end of June 2005.\n\n(signed)\n---------------...