goldisking3000
15 years ago
Fuwan Property <<<<NICE>>>>
Location
The Fuwan Silver Project is situated approximately 45 kilometres southwest of Guangzhou City, the capital of Guangdong Province and the fourth largest city in China, with a population of 13 million people. The property is adjacent to Minco Gold Corporation's Changkeng Gold Property.
Deposit
The Fuwan silver deposit falls into the broad category of sediment-hosted epithermal deposits and it is characterized by 8 zones of vein and veinlet mineralization within structural zones which have wide spread zones of silicification. The deposit currently has reserves of 9.118 Mt averaging 189 g/t Ag which will sustain an underground operation of 3,000 tpd for a mine life of 9.2 years. There is excellent potential to expand the reserves by upgrading the current indicated resources of 6,857,000 t averaging 173 g/t Ag for 38,203,000 ounces and the inferred resources of 11,290,00o t tonnes averaging 174 g/t Ag for 63,283,00 ounces of silver (Changkeng property included). Only one third of the 10 km long Fuwan belt as been explored to date with drilling and there is a good exploration potential to find new resources which could also potentially expand the mine life.
Infrastructure - A Miner's Dream
Unlike most mining properties, the Fuwan property is one of the few mineral projects in the world that already has a significant infrastructure in place, which is expected to save the company tens of millions of dollars in development costs.
Transportation is made easy with a four-lane highway that passes by the property and labour is available from the town of Fuwan (pop. 5,000) and nearby Gaoming City (pop. 100,000). Water and telecommunications are readily accessible and a high-voltage power line crosses the property. The adjacent Xijiang River also provides access to the South China Sea, which is the international waterway for shipping.
Easy access to a shipping channel also facilitates the disposal of waste rock and carries with it a significant economic benefit. The Company has been approached by several construction companies from Guangzhou City to purchase the waste material at an estimated price of US$2.50 per tonne to be used for gravel and construction material. This is expected to reduce mining costs significantly.
Ownership
Minco Silver owns 100% of the Fuwan Silver Deposit, subject to a 10% profit sharing agreement with the Guangdong Geological Exploration and Development Cooperation. The Company also holds three additional exploration permits covering more than 200 square kilometres.
Minco Silver successfully incorporated Foshan Minco Mining Co., Ltd. ("Foshan Minco") as the operating company for the Fuwan Silver project. Subsequently, the exploration permits for the project held by Minco Mining (China) were transferred to Foshan Minco. Minco Silver retains 90% ownership in Foshan Minco with the remaining 10% held by Guangdong Geological Exploration and Development Cooperation ("GGEDC") as per the original 10% profit sharing agreement.
kiwisteve
15 years ago
Minco Silver Receives Land Use Permit on its Fuwan Silver Project, China - January 25, 2010
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to announce that it has received the Land Use Permit for its Fuwan Silver project located in Guangdong province, China.
The Land Use Permit is a critical step to secure the mining license. It consists of surveying, rezoning and obtaining the quota for proposed surface areas required for the mine surface infrastructure. The Land Use Permit on the Fuwan Silver Project has been approved by Gaoming County, Foshan District, and Guangdong provincial governments.
The approved Land Use Permit, covering 28.9871 hectares (ha), includes all the areas proposed in the International Feasibility Study (please see the Company's news release on Sept. 28, 2009) for the industrial site, waste rock dump, tailing reservoir, and explosive storage warehouse.
Dr. Ken Cai, Minco Silver's Chairman & CEO, commented: "Receiving the Land Use Permit is a very important milestone for the Company. I am very pleased that the Land Use Permit has been approved by all three levels of governments in a very short period of time. With this permit, the Company now can acquire all the surface rights (land) for mine construction as outlined in the international feasibility study."
The Company also announces that Mr. Christopher Zahovskis has resigned as Chief Operating Officer of the Company for personal reasons. The Company wishes to thank Mr. Zahovskis for his time and efforts and wishes him the best in his future endeavors.
About Minco Silver
Minco Silver Corporation (TSX: MSV) is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 90% interest in the world class Fuwan Silver Deposit, located in Guangdong, China. The Company recently completed a very positive Bankable Feasibility Study on its Fuwan Silver Deposit and is working towards bringing the deposit into production. For more information on Minco Silver, please visit the website at www.mincosilver.com or contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 ir@mincosilver.ca or Troy Winsor at 1-800-663-8072.
ON BEHALF OF THE BOARD
"Dr. Ken Z. Cai"
Chairman & CEO
http://www.mincosilver.ca/s/NewsReleases.asp?ReportID=382140&_Type=News&_Title=Minco-Silver-Receives-Land-Use-Permit-on-its-Fuwan-Silver-Project
kiwisteve
15 years ago
Minco Silver Announces Court Decision on the Amount to Cure the Sunshine Mine Lease
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2009) - Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:MSV) announces that the United States Bankruptcy Court, District of Idaho ("the Court") has ruled that the amount to cure the Sunshine Mine Lease is US$1,162,420.10 and the administrative costs are US$147,229.99 to SNS Silver Corp. for care and maintenance of the mine from the period between February to June 2009.
The amount to cure the defaults breaks down as follows: lease fees US$60,000, taxes due US$70,000, liens payable US$281,540, utility costs US$318,860, EPA for the Big Creek Spill US$50,000, and EPA Tribe consent decree US$382,020.95. The Court had originally received claims totaling approximately US$15 million dollars and has ruled that the above total of US$1.3 million dollars cures the defaults on the Sunshine Mine Lease and all administrative costs.
This final ruling from the Court puts an end to the controversy surrounding the Sunshine Mine Lease between Sterling Mining Company and Sunshine Precious Metals Inc. As a result, Sterling regained control and possession of the Sunshine Mine on August 19, 2009. Minco Silver is working closely with Sterling in the care and maintenance of the Sunshine Mine and dewatering of the mine is expected to commence shortly.
Minco Silver is very pleased with this final Court ruling. Now that all the issues relating to the Sunshine Mine Lease have been resolved permanently, the Company will assist Sterling to cure the defaults in the Sunshine Mine Lease and will move forward quickly with its reorganization plan of Sterling.
About Minco Silver
Minco Silver Corporation (TSX:MSV) is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt.
ON BEHALF OF THE BOARD
Dr. Ken Z. Cai, Chairman & CEO
Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. The Company undertakes no obligation and has no intention of updating forward-looking statements.
The Toronto Stock Exchange does not accept responsibility for the accuracy of this news release.
Source: http://www.marketwire.com/press-release/Minco-Silver-Corporation-TSX-MSV-1038266.html
NYBob
16 years ago
Minco Silver Forecloses on Sterling Mining Company -
Monday February 23, 2009, 9:28 am EST
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Feb 23, 2009 --
Minco Silver Corporation
(the "Company" or "Minco Silver") (Toronto:MSV.TO - News)
announces that the Company has filed an action to foreclose
on Sterling Mining Company ("Sterling") in the District
Court of the First Judicial District of the State of
Idaho for the County of Shoshone.
Minco Silver extended a US$5 million loan to Sterling at an annual simple interest rate of 10% pursuant to the Credit Facility Agreement the parties entered into, announced on July 22, 2008. The loan was advanced to Sterling to meet general working capital and operating expenses of the Sunshine Mine. The loan was secured by all assets including all the personal and real property of Sterling Mining, including the Sunshine Mining Lease.
The Company has now been granted a temporary restraining order restraining Sterling, its officers, directors, agents, and employees from removing, selling, destroying, disposing of, or concealing collateral consisting of all of the real and personal property assets of the business known as Sterling Mining Company. The Court has appointed a receiver to handle the matter.
About Minco Silver
Minco Silver Corporation (Toronto:MSV.TO - News) is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt.
ON BEHALF OF THE BOARD
Dr. Ken Z. Cai, Chairman & CEO
Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. The Company undertakes no obligation and has no intention of updating forward-looking statements.
The Toronto Stock Exchange does not accept responsibility for the accuracy of this news release.
Contact:
Contacts:
Minco Silver Corporation
Ute Koessler
1-888-288-8288 or (604) 688-8002
Email: ir@mincosilver.ca
Website: http://www.mincosilver.ca
NYBob
16 years ago
Minco Silver: Progress in 2008 and Plan for 2009
* Monday January 26, 2009, 9:06 am EST
* Yahoo! Buzz
* Print
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jan 26, 2009 -- Minco Silver Corporation (the "Company" or "Minco Silver") (Toronto:MSV.TO - News) provides a summary of the progress during 2008 and plan for 2009 on its Fuwan Silver project. In 2008, the Company completed a drilling program totaling 23,292 metres in 79 holes, delivered an updated resource estimate which expanded the deposit significantly, initiated an International Feasibility Study ("IFS"), made solid progress in permitting, conducted a regional exploration program, and won two awards for work completed on the project.
Exploration on Fuwan Deposit
Minco Silver completed an aggressive infill and step-out drilling campaign on the Fuwan deposit during 2008 and completed 56 holes for a total of 16,833 metres. The program was designed primarily to increase the level of confidence in the resource through infill drilling and the assay results were released in the first half of 2008.
Resource Expansion
The updated resource estimate was prepared by P&E Mining Consultants Inc. of Brampton, Ontario and released on May 22nd, 2008. Drilling was successful in expanding the indicated resource. From the previous resource announced in December 2007, the indicated resource increased from 11.9 million tonnes containing 71.6 million ounces of silver ("MM oz Ag") to 16.0 million tonnes containing 93.5 MM oz Ag, or a 31% increase. The overall resource base (indicated and inferred silver resources) also increased from 142.9 MM oz Ag to 156.8 MM oz Ag. These silver resources reflect Minco Silver's current exploration permit holdings, including 51% of the silver resources on the Changkeng permit. The Fuwan deposit remains open along strike to the southwest and down dip to the southeast.
Regional Exploration
Minco Silver initiated a regional exploration program along the Fuwan Silver Belt in May of 2008. The Company completed a detailed ground magnetic survey covering approximately 155 line kilometres as well as 21 line kilometres of dipole-dipole induced polarization survey over the main target areas. Combined with previous geochemical surveys consisting of 50,000 individual soil samples, a number of highly prospective targets were generated. The Company drilled 18 holes for a total of 5,003 metres testing some of these targets. Regional drill results are pending.
International Feasibility Study
Wardrop Engineering Inc. ("Wardrop") was retained in April of 2008 to conduct the international feasibility study using the resource update released in May of 2008. Significant progress has been made to date and mine planning and process engineering are well advanced. Currently, the process flowsheet and metallurgical test work are nearing completion and surface infrastructure sites are being finalized. Mine planning, surface layout, and development and production schedules are progressing well.
Additional metallurgical tests to optimise the initial work completed for the Preliminary Economic Assessment in October of 2007 were also initiated. Minco Silver received a comprehensive metallurgical report on Fuwan samples from the Beijing General Research Institute of Mining & Metallurgy ("BGRIMM"). The results confirmed initial work carried out by Process Research Associates ("PRA") with overall recoveries of silver, using conventional flotation, reported as above 96%. Recoveries for lead and zinc were also over 95%.
Environmental Impact Assessment ("EIA")
Environmental aspects of the feasibility study are being compiled by Environmental Resources Management ("ERM"), one of the world's leading providers of environmental consulting services, and will be done to IFC ("International Finance Corporation") and World Bank standards.
To satisfy Chinese regulatory requirements, Guangdong Nuclear Design Institute ("GNDI") has been contracted to complete the Chinese environmental impact assessment which is nearing completion. GNDI is working closely with ERM to cover all necessary aspects for national and international environmental acceptance.
Permitting
Minco Silver has made solid progress in permitting on the Fuwan Silver deposit during 2008. Reports completed and in progress are summarized below:
- The Exploration Report on the Fuwan Silver deposit has been accepted and approved by the Ministry of Land and Resources ("MOLAR") in Beijing.
- The Chinese Preliminary Feasibility Study was completed by Changsha Non-Ferrous Mine Design Institute and approved by an expert panel.
- The reserve/resource has been registered and received approval from Guangdong Bureau of Land and Resources and MOLAR in Beijing.
- The mining area application was approved by Gaoming county, Foshan district, and the Guangdong provincial government. MOLAR's approval is pending.
- The Soil and Water Conservation Plan is nearing completion.
- The Safety Assessment and Geological Hazard Assessment are well advanced.
- The Land Usage application is being prepared for submission.
Additionally, the Gaoming county government granted official approval for the development of the project. Upon completion and approval of all required reports, the application for the mining permit will be filed with MOLAR in Beijing.
Corporate Developments
Minco Silver successfully incorporated Foshan Minco Mining Co., Ltd. ("Foshan Minco") as the operating company for the Fuwan Silver project. Subsequently, the exploration permits for the project held by Minco Mining (China) were transferred to Foshan Minco. Minco Silver retains 90% ownership in Foshan Minco with the remaining 10% held by Guangdong Geological Exploration and Development Cooperation ("GGEDC") as per the original 10% profit sharing agreement.
Awards
Minco Silver won two awards during 2008 for its work in advancing the Fuwan Silver project. In January, the Company received a Corporate Award for Project Development from Cambridge House International Inc., for the project's meaningful progress during 2007. Minco Silver received the Prospector / Explorer of the Year Award at the 2008 China Mining Conference for its outstanding progress of the Fuwan Silver project. This prestigious national Award was presented to Minco Silver by Mr. Wang Min, the Vice Minister of MOLAR on November 12, 2008.
Staff Changes
In July of 2008, Mr. Christopher Zahovskis was appointed Chief Operating Officer for Minco Silver, replacing Mr. Tim Marlow, former V.P. Operations.
In January of 2009, Ms. Ellen Wei was appointed the Company's Controller replacing Ms. Fiona Zhou. Ms. Wei's qualifications include an AICPA designation in the United States and a CPA designation in China. Ms. Wei has 10 years experience with a major Chinese auditing firm and 3 years with Ernst & Young respectively. Ms. Wei has worked with the Minco Group for 4 years in the capacity of CFO for Minco Mining (China) Ltd. She was the former Controller of Dragon Pharmaceuticals Inc., a listed company for 2.5 years.
Minco Silver would also like to announce that Mr. Garnet Clark has resigned as Chief Financial Officer. The Company would like to thank Mr. Clark and Mrs. Zhou for their valuable contributions and wishes them well in their future endeavours.
Plan for 2009
In 2009, Minco Silver will focus its resources on advancing the Fuwan Silver deposit and work diligently to complete the international feasibility study and permitting. Upon completion, a production decision will be made based on feasibility results, commodity price outlook, and market conditions for financing for mine construction.
Given the current economic downturn, Minco Silver has implemented a number of cost-saving measures to preserve its treasury. The Company has suspended the regional exploration program until market conditions improve. Additional cost-saving measures include a reduction in non-essential personnel and streamlining of office space.
About Minco Silver
Minco Silver Corporation (Toronto:MSV.TO - News) is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt. For more information on Minco Silver, please visit the website at www.mincosilver.ca or contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 ir@mincosilver.ca.
ON BEHALF OF THE BOARD
"Dr. Ken Z. Cai", Chairman & CEO
The Toronto Stock Exchange does not accept responsibility for the accuracy of this news release. Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. The Company undertakes no obligation and has no intention of updating forward-looking statements.
Contact:
Contacts:
Minco Silver Corporation
Ute Koessler
1-888-288-8288 or (604) 688-8002
E-mail: ir@mincosilver.ca
Website: http://www.mincosilver.ca
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