ARUN Forms J.V for Exploration in the Jiaolai Basin
Press Release Date: July 09, 2014
ARUN Minerals has formed a joint venture partnership with a fellow Chinese based gold mining company to explore and potentially develop two licensed sites in the Jiaolai Basin region of Shandong Province.
The partnership between ARUN Minerals and a fellow mining concern was formed to conduct exploratory work at two sites for which government licenses are held, on the Pengjiakuang and Fayunkuang gold deposits located on the North Eastern edge of Shandong province’s Jiaolai basin and if shown to be viable prospects to begin developmental stage work there.
Shandong province is one of the most mineral rich regions in the P.R.C, with the Fayunkuang gold deposit in particular being of great interest to ARUN Minerals and others with ore samples from the area showing gold grades as high as between 10g/t and 15.3g/t, with gold production from this one deposit alone expected to be in excess of 12 tons of gold.
Playing host to a large and diverse range of mining operations for gold and other minerals, Shandong province is uniquely suited to supplying and maintaining the infrastructure of large scale commercial mining operations and has become a key region of interest to ARUN Minerals and it plans for expansion, with our company already having a well established presence in the province.
“If upon successful completion of the survey work that ARUN and its partner in this venture are soon to carry out, we have every intention of through any find in this region to development stage operations at least, most likely given the high grade ore to be found there we will stay as a full production partner. The benefits of working in Shandong as a mining company are many, as we well know from our ongoing operations in the region and I believe that given the prospects there that we will be further increasing our presence over the next year to 18 months or so depending only on how quickly we can ramp up production.” said Mr. Tang Chi Mo, Director of Explorations and Surveys for ARUN Minerals when asked to comment on the proposed survey.Go Back to Archives