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Bluebird Merchant Ventures Ltd - British Virgin Islands-based gold development company focused on Korea - Says samples taken from Kochang project in South Korea showed "good correlation" with the original five metre interval sampling. This confirms that five metre sampling is appropriate for the ore body thus saving time and costs, it says. Adds that the drain samples confirm gold of up to 2.25 grams per tonne. Says this confirms its experience that fine ore from previous mining operations accumulates on the adit floor and can "quickly" be collected and stockpiled for future processing.
Chief Executive Colin Patterson says: "The results confirm that we are on the right path to 'proof of concept' gold production at Kochang."
Current stock price: 2.56 pence
12-month change: down 39%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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