Leyshon Resources has raised $16.25 million, to rapidly progress the Zheng Guang gold/zinc project to construction status and to continue to expand the 1.2 million ounce of gold equivalent resource through a major exploration program. The placement was made to institutional clients of Mirabaud Securites and Seymour Pierce.

A total of $5.5 million will be spent on preproduction development activities which are expected to start shortly, $4.8 million towards a major generative exploration program starting in April 2007 and final joint venture payments with the balance being applied for working capital purposes.

Zheng Guang lies some 8km south-east of Duobaoshan. It has a strike length of more than 2km and mineralization has been confirmed to more than 350 metres depth in the southern section of the deposit. www.leyshonresources.com

News sourced from International Mining Project News - www.im-mining.com