Name of the Project
Kochang gold and silver mine redevelopment.
Location
South Korea.
Client
Southern Gold.
Project Description
The Kochang mine operated from 1928 to 1975.
The project proposes to develop and reopen the mine, which has parallel vertical orebodies that are easier and cheaper to mine.
Historically, the main vein was mined at the gold mine and the south vein was mined at the silver mine. However, from surface chip sample assay maps and from more recent surface mapping, several separate veins associated with the main vein have been identified that have not been exploited. Additionally, the silver mine shows significant gold assays and a number of additional veins have been discovered during surface mapping and sampling that were not accessed when the mine was in production.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Value
Not stated.
Duration
Not stated.
Latest Developments
Bluebird Merchant Ventures signed an agreement with Southern Gold in February to develop and reopen the Kochang gold and silver mine. Under the terms of the agreement, a 50:50 joint venture will be formed once Bluebird has spent $500 000 to complete a report on the feasibility of reopening the mine and completed a placing of A$250 000 in Southern Gold by May 31.
Key Contracts and Suppliers
Not stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Southern Gold, tel +61 8 8368 8888 or email info@southerngold.com.au.