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This story is published in English and Chinese - see below for Chinese version Sino Gold Limited and Zhaoyuan Hexi Gold Limited (Hexi Gold) have formed a new exploration joint venture in Shandong Province - China"s largest gold-producing province. The joint-venture tenements cover portions of regional, deep-seated faults along strike from a number of significant gold mines. Gold mineralisation has been identified on two tenement areas as a result of drilling and small-scale mining operations.
Sino Gold's partner in the joint venture is Hexi Gold, a local Chinese mining company. Sino Gold chief executive officer Jake Klein says: "Sino Gold is very pleased to have gained a further foothold in China 's major gold district. Despite the substantial historical mining in this district, we believe there is still excellent exploration potential on the major gold-bearing faults within these tenements. "We look forward to a mutually beneficial relationship with Hexi Gold, a company with extensive mining expertise and valuable knowledge of this well endowed district." Hexi Gold chairman Liu Ruzheng says: "This joint venture will enable Hexi Gold to accelerate exploration on these prospective tenements. "A key attraction of Sino Gold was its track record of successful exploration and development of gold mines in China . "We believe that the aims and values of Sino Gold make it an ideal joint venture partner for us". The key terms of the joint venture are: - Three tenement areas Xinzhuang, Qiansungjia & Suijia are included, covering an area of approximately 38km2. - Sino Gold has the right to earn a 70% interest in the joint venture upon sole funding an agreed amount of exploration expenditure. - After reaching the expenditure milestone, then both parties contribute expenditure on a pro-rata basis or dilute their equity to a free-carried 10% interest. - If Sino Gold withdraws prior to reaching the expenditure milestone, then Hexi Gold retains 100% of the tenements. - Sino Gold will manage the exploration program. Shandong Province is responsible for about one-quarter of China 's annual gold production. Located in the south-east portion of the Precambrian North China Craton, Shandong hosts more than 100 known gold deposits. More than 80% of these lodes are hosted within Mesozoic granitoid rocks or their contacts with Archaean basement rocks. Regional, deep-seated, north-east trending faults controlled the distribution of the Mesozoic granitic intrusions and gold deposition in the area. The Jiaojia Fault is purported to be the best-endowed fault in Shandong Province as it hosts a number of significant deposits each containing more than one million ounces of gold. The Hexi joint-venture tenements cover the northern portion of the Jiaojia Fault, as well as substantial portions of parallel secondary faults which are also known to contain significant gold mineralisation. Xinzhuang area The Xinzhuang tenements cover more than 5km of strike along the northern portion of the prolific Jiaojia Fault. In the Xinzhuang tenement area, the Jiaojia Fault is poorly explored as it is covered by approximately 30 metres of Quaternary sediments. The position of the fault has been established by geophysics and very limited previous drilling. Previous exploration work also includes geophysics and soil geochemistry. Four small gold occurrences in the footwall to the Jiaojia Fault are known from prospecting. This work has generated a number of targets in and below the Jiaojia Fault and footwall to the fault. Sino Gold plans to start drilling these targets this quarter. Qiansunjia area The Qiansunjia tenements are located on the northeast-trending Jinhuanshan Fault and subsidiary splays. The faults are granite hosted and generally dip 70° east. Previous exploration work includes geophysics and soil geochemistry. Hexi is currently undertaking a drilling program comprising four holes. In 1998, small-scale mining was undertaken along the Jinhuanshan Fault to a depth of 120m, with an average grade of approximately 10gpt gold. Several small mines occur on the Jinhuanshan Fault, just to the west of the joint venture's tenements and the potential down-dip extensions of these deposits lie within the joint venture's tenements. Suijia Area The Suijia tenements are located on and close to the northeast-trending Linbei Fault and subsidiary faults, which generally dip 75° east. The Linbei Fault has yielded some of the highest 'fault-hosted' gold grades in the district. The Lingshangou Mine, which is hosted by the Linbei Fault, has produced approximately 300,000 ounces at an average grade of 6.6gpt gold. Small open-pit mining and shallow shaft mining was conducted by Hexi in the 1970s within the joint venture's tenements. However, systematic exploration has not been conducted in this area. A drilling program is currently being planned. 在山东与河西金矿建立新的风险勘探合作公司
澳华黄金有限公司(澳华黄金)和招远市河西金矿(河西金矿)荣幸地在此声明，双方将在中国最大的黄金生产省山东组建一家新的风险勘探合作公司。 三块探矿权的范围涵盖部分沿数个主要黄金矿山走向的区域性深部构造的延伸部位。以往的钻探工作及小规模采矿活动在其中二块的探矿权区域中发现了黄金矿化现象。 澳华黄金有限公司在合作公司中的实际合作伙伴是招远市河西金矿。 澳华黄金有限公司的首席执行官杰克•科林说： "澳华黄金对能够在这个中国主要的黄金成矿区域找到进一步立足点感到非常高兴。"尽管历史上在该地区进行过大量的黄金开采活动，但在这些矿权范围内的主要黄金构造带上仍然存在着很好的探矿潜力。 "河西金矿是一个拥有长期、优秀的采矿知识和经验，对本地区资源潜力和特点有着独特认识，我们期待着与河西金矿建立双嬴的合作关系。." 河西金矿的董事长刘汝铮认为： "成立该合作公司使得河西金矿能够加快在这些有前景的探矿矿权区域内的勘探工作。 "澳华黄金的主要优势是其拥有在中国从事黄金勘探和开发的成功记录。
我们相信澳华黄金的价值观及其目标使得他成为我们理想的合作伙伴。 合作公司的主要条款: 三个探矿权合作区域包括辛庄、前孙家和隋家，总面积约为38平方公里。 澳华黄金按照合同商定的数额投资进行勘探，作为回报有权获得合作公司70%的权益。 在达到双方商定的投资额后，双方将根据需要按各自在合作公司中的权益比例继续投资勘探或稀释权益股份直至10%为止。 如果澳华黄金在完成规定的投资额前决定撤出，河西金矿将100%拥有上述矿权. 澳华黄金对勘探计划实施管理. |
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