LONDON (Alliance News) - Bluebird Merchant Ventures Ltd on Tuesday said it completed a review of the data from its Kochang gold and silver mine in Thailand, establishing a potential of up to 700,000 tonnes.
The company said that the initial mineral potential of the mine lies between 550,000 and 700,000 tonnes, derived from a small area with grades ranging between 5.2 grams per tonne to 6.6 grams per tonne of gold and 27.3 grams per tonne and 34.8 grams per tonne of silver.
"The recent work carried out covers an extremely small area with obvious underground drill targets in close proximity to the three main veins," the firm said.
It added: "The company intends to commence an underground drilling programme, along with further mapping and channel sampling in other historic workings in early to mid 2019. This programme will lead to further refinement and expansion of the mineral potential and enable conversion to a mineral resource as defined by internationally accepted codes."
Bluebird shares were trading up 0.9% at 2.17 pence each.
Bluebird Merchant Venture (BMV)