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Naneco Minerals Ltd -
Jiawula deposit to be developed
Naneco Minerals Ltd
NNE
Shares issued 13342496
1998-04-06 close $0.43
Wednesday Apr 8 1998
Mr Archie Nesbitt reports
Naneco Minerals has retained Watts, Griffis and McOuat (WGM) to conduct a
pre-feasibility study for the development to production of the Jiawula polymetallic
deposit in Nei Mongol, China.
WGM will use and confirm information from the feasibility study completed by the
Shenyang Non-Ferrous Metallurgical Design and Research Institute but with
emphasis on modern, underground, bulk-tonnage mining methods at a minimum
rate of 1000 ton/day. The Shenyang study concluded that Jiawula had a geological
reserve of 7,339,400 tons of 5.19% zinc, 124.4 grams of silver, 3.26% lead, and
.38% copper with a mining reserve of 5,168,000 tons of 5.70% zinc, 140.8
grams of silver, 3.38% lead and .46% copper. The WGM report is expected to
be complete in May 1998.
Naneco's geologic team believes that there is significant potential at the Jiawula
project, with some 40 known mineral deposits, for a low cost, high margin mining
operation with in excess of 20 million tons. |
