It appears that they will be drilling in China on one or more projects this year.
I don't have any information on the preliminary agreement signed on Nov 16, 1998 on the new gold project in Habahe County in Xinjiang Province other than 22 holes that have been drilled in the main zone. Their other two projects are the Luoding and Qianhe projects in China. They only information I have on these projects are taken from recent Sedar reports.
From Sedar - June 30, 1998….The Luoding Project covers a 3,100 square kilometre area in Guandong Province. While the Luoding Project is more grassroots than Zen's other projects in China, the large area covered by the joint venture agreement comprises numerous gold occurrences, which range from low-grade large tonnage-type targets to extremely high grade vein-type showings. Zen has the option to earn a 60% interest, and in certain circumstances up to a 90% interest in this project through the completion of a bankable feasibility study at an initial cost estimate of US $2 million.
From Sedar - August 30, 1998….The Luoding Project is proceeding with an application submitted for the resignation of the exploration area. This is the initial step in the new procedures for government approval of the joint venture and the granting of the business license. Completion of the approval process is anticipated in the first quarter of 1999.
From Sedar – August 30, 1998….The Qianhe Project is located in Henan Province, is centred on the Qianhe Gold Mine, from which 40,000 tonnes of ore, at a diluted average head grade of 8.6 grams per tonne (g/t) gold, are presently being mined annually. The Company is continuing the due diligence process on this project prior to the submission on the project for government approval of the joint venture.
Anyone got any thoughts on the company.
Best Regards
KEITH |
