China Gold International begins major drill campaign at Chang Shan Hao gold mine
Mineral explorer China Gold International Resources (TSX: CGG) (HKEx: 2099) affirmed on Monday that it has started a major drilling campaign at its Chang Shan Hao gold mine in Inner Mongolia, China.
The drill program, which began on May 20, consists of about 55,000 meters of diamond drilling in over 100 drill holes. Currently, 11 drill rigs are in operation at the site.
The focal point of the drill program, for which a US$7.7 million budget has been set, is to distinguish more resources at depth, with the hope to expand the current mining capacity at the mine.
"The mineral resource at Chang Shan Hao has the potential to be greatly increased after this drill campaign and that the strategy to further expand our mining and processing capacities at the gold mine is one of the company's primary goals," said Xin Song, CEO of China Gold International.
The company began producing gold at the Chang Shan Hao Mine in July 2007, and is seeking to increase its reserve base through further exploration efforts.
Aside from this mine, the company owns the Jiama copper poly-metallic project, one of the largest copper poly-metallic mines in China.
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