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VVC Exploration confirms significant gold bearing zones in China
VVC Exploration confirms significant gold bearing zones in China.
About this update from Vvc Exploration Corporation
[{"type":"text","content":"\n\n\n\n\nTORONTO, July 13 /CNW Telbec/ - VVC EXPLORATION CORPORATION (\"VVC\" or the\n\"Company\") reports encouraging news from its initial review of its Joint\nVenture's(x) properties in the Tong Guan area (Shaanxi Province, People's\nRepublic of China).\nThe joint venture partners and VVC's local geological team is currently\nundertaking a preliminary investigation of the important quartz veins which\nreportedly carry visible gold (vg) and are currently being mined. The\nfollowing is a summary of the results to date:\n\nVein Q512: This vein, 51% owned by the JVC, reportedly produced 9,000\ntonnes of ore in 2004 with an average grade of 4.8 g/t Au. The presence of\nlocal zones in the vein with widths of 2-3 m and heavy sulphide concentration\nwere noted as well as the presence of a number of adjacent veins. VVC\nanticipates that additional exploration of this vein and the adjacent veins\nwill lead to significant increases in production.\n\nVein Q115: This vein, 20% owned by the JVC, reportedly produced 17,000\ntonnes of ore in 2004 with a grade ranging from 5-20g/t Au. The grade of ore\ncurrently being mined is reported at being over 12 g/t Au.\n\nVein Q12: This vein, 100% owned by the JVC, reportedly produced 2,500\ntonnes of ore in 2004 at an average grade of 8.6 g/t Au.\n\nVein Q315: This vein, 41% owned by the JVC, reportedly produced 33,000\ntonnes of ore in 2004 with an average grade of 7.2 g/t Au.\n\nVein Q456: This vein, 80% owned by the JVC, reportedly produced 11,000\ntonnes of ore in 2004 with an average grade of 3.8 g/t Au. The mine is\ncurrently closed to repair unsafe areas.\n\nThe JVC is currently negotiating to purchase 49% of the Q512 and 80% of\nthe Q115 bringing its interest in these 2 veins to 100%. Details will be\nannounced upon finalization of these transactions anticipated to occur within\na week. In addition, the JVC is investigating the possibility of purchasing\nthe remaining interest in the Q315, Q456 and other veins.\nThe above information is reported as received from the joint venture\noperations team in China. The quoted tonnages and grades and noted\nobservations have not been made by or under the supervision of, nor verified\nby a QP as defined by NI 43-101at this time.\nThe mesothermal type quartz veins under VVC's control in the Tong Guan\ndistrict have been superficially mined for decades, ...