Dragon Mountain Gold to renew exploration licenses for Lixian Gold Project
Perth-based Dragon Mountain Gold (ASX: DMG) has lodged all necessary documents for the two yearly renewal of the exploration licences for the Lixian Gold Project in China.
The Zhao Gou deposit at Lixian has an Indicated and Inferred Mineral Resource estimate of 32.8 million tonnes at 1.5g/t Au for 1.62 million ounces of contained gold.
The renewal documents were lodged on 30 December 2010 with the Exploration Licensing Division of the Ministry of Land and Resources in China.
Documents submitted include implementation plans for each site, which have been reviewed and accepted by an expert panel at country level, as well as a report on the ongoing operations.
During the September quarter work commenced to finalise the formal reports to meet Chinese code and reporting standards for the Wa Wu Gou prospect.
Wa Wu Gou is located between the established Zhao Gou and Ma Gou gold deposits within the Liba lease area of the Lixian Gold Project.
Infill drilling is planned at the Ma Gou main zone of mineralisation together with the less explored southern zone.
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