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Monday, 30th April 2007 (3034 views)

Sino Gold says it has raised its gold estimates at the Jinfeng mine in China by 4.6 million ounces.

The project is located in the country's Guizhou province and the last estimate released was just 600,000 ounces which shows how much it has gone up by.

Jake Klein, the chief executive of Sino Gold, said: "Jinfeng deposit and are now in a great position to also explore the surrounding potential."

He explained that the recent resource estimate shows that the project is a world-class site and gold mineralistion seems to be strengthening at depth.

Now the first production from the mine is expected to happen by mid-May and once started, the Jinfeng gold mine is expected to become one of the largest gold mines in China with expected initial production of 180,000 ounces every year.

The same company's other project is called White Mountain and it is located in Jilin province in north-east China. It has a resource estimate of 846,000 ounces.

 

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