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LONDON (Alliance News) - Bluebird Merchant Ventures Ltd said Friday it completed a farm-in expenditure commitment into its Kochang mine located in South Korea.
The Asia-focused resource development company said it expects to present the report to its joint venture partner Southern Gold within the next five weeks.
The company said it located and found "accessible open mining areas at the Kochang silver mine" close to the gold workings which were already in "a good condition".
"This is highly encouraging as it is similar to the gold production areas that the company has successfully re-established," Bluebird said.
Chief Executive Officer Colin Patterson said the firm is "highly satisfied" with the work carried out at the mine, which seems to have "great potential".
Bluebird Merchant shares were untraded at 2.05 pence each.