Register
Login:
Share:
Email Facebook Twitter


UPDATE: #COPL set timeline for Q2/Q3 Nigeria drilling programme
RESULTS: IFA led wealth managers AFH Financial results show strong growth


Regulatory News


Kochang Mine Update

Mon, 11th Feb 2019 07:00


RNS Number : 5645P
Bluebird Merchant Ventures Limited
11 February 2019

11 February 2019

Bluebird Merchant Ventures Ltd

(the "Company" or "Bluebird")

Kochang Mine Update

Bluebird Merchant Ventures (EPIC: BMV), the Asian focused resource development group, is pleased to announce its comparison of the results of the underground sampling programme from the Kochang Mine, carried out by the Korean Resources Corporation ("KORES"), a South Korean government owned company in 2018.

Highlights:

Bluebird has reviewed KORES' sampling programme results

KORES Total Indicated and Inferred Resource of 113,280 oz Au versus the Company's Resource potential of 116,880 oz Au

KORES derived gold grade of 6.55 g/t versus Bluebird's reported gold grade of 5.94 g/t

KORES derived silver grade of 35.97 g/t versus Bluebird's reported silver grade of 31.54 g/t

The sampling programme covered a small area of the Kochang mine

The Company announced on 6 February 2019, that it had received a copy of the technical survey report KORES carried out at the Kochang mine and adjacent area in 2018. Bluebird is examining the report and is pleased to see strong correlation in the results of the underground sampling programme carried out by KORES, with that conducted by the Company in the same area in the first half of 2018.

KORES took 195 samples which were sent to SGS Canada for assay. KORES' results and resource interpretation have been compared to those derived by Bluebird.

KORES developed a total indicated and inferred resource estimate (Korean resource terms) of 113,280 oz Au from their results. Bluebird had reported on 20 November 2018 that the resource potential was 116,880 oz Au. Furthermore, KORES derived a gold grade of 6.55 g/t and a silver grade of 35.97 g/t. By comparison, Bluebird reported grades of 5.94 g/t gold and 31.54 g/t silver.

These results are from a very small area of the mine, which itself operated on only a small part of the identified gold and silver system.

Colin Patterson, CEO, commented:

"It is always pleasing to see corroboration of one's technical work. These results reinforce our opinion that Kochang has a good deal of life left in it."

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR")

Enquiries:

Bluebird Merchant Ventures Ltd

+44 (0) 7797 859986

Jonathan Morley-Kirk, Non-Executive Chairman

SP Angel Corporate Finance LLP

Ewan Leggat

Smaller Company Capital Ltd

Rupert Williams/Jeremy Woodgate

+ 44 (0) 20 3470 0470

+44 (0) 20 3651 2910

Blytheweigh

+44 (0) 20 7138 3204

Tim Blythe / Camilla Horsfall / Julia Tilley

www.bluebirdmv.com

@BluebirdIR

Notes to Editors

The Kochang mine operated between the period 1928 and 1975. This gold production was mainly derived from the three main veins at the North East end of the "Gold Mine" part of Kochang, with the majority of the silver production from the "Silver Mine" some 2.5 kilometres to the south west. The mine closed in 1975 when the gold price was USD 140 per ounce.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DRLBCGDDCBBBGCG





Back to Regulatory News


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk




Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.