Jinshan Gold Mines Inc. announced recently that it has acquired four exploration permits totaling 153.34 square kilometres in the Eastern Xinjiang Uygur Autonomous Region (Xinjiang) of Northwest China. The permits are held under a Chinese-Foreign Joint Venture in which Jinshan holds a 99% share and the partner, Yunnan Geological and Mining Co. Ltd., holds a 1% share. The permits were granted by the State Ministry of Lands and Resources in Beijing. Jinshan has developed a China-wide GIS database for exploration targeting and property evaluation in the numerous gold belts throughout China.
The exploration permits are located on favorable geologic structures within the prolific Tianshan Mineral Belt, which extends through Central Asia from Uzbekistan to Inner Mongolia and Mongolia, and hosts many world-class gold and copper-gold deposits including Muruntau and Kumptor. The Oyu Tolgoi copper gold deposit in Mongolia occurs in the eastern extension of the Tianshan belt known as the Mongolia-NE China porphyry copper belt. The four permits are located within an area of Eastern Xinjiang and support Jinshan’s long-term exploration strategy to acquire exploration ground in the highly prospective and under-explored Tianshan belt.
Jinshan plans to complete further exploration surveys, including geological mapping, geochemical sampling, and geophysical surveys in the first half of 2006, with the intent of defining targets for drill testing in the second half of 2006.
