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Green Light for New Mine in Jiangxi

Press Release Date: September 17, 2014


The board of directors of ARUN Minerals has given the go ahead for initial stage work to begin on a new open cut mine in Jiangxi province following promising testing.

In conjunction with two other Chinese based mining companies, ARUN Minerals has decided to proceed with developing an open cut mining operation located in the Naikeng quartz fields of Jiangxi province in the P.R.C. The site which will be known as Tascon-1, was one of three sites that ARUN and its partners conducted a four month long geological and feasibility survey on at the beginning of the year, with promising results obtained.

The decision to proceed with the development of the Tascon-1 operation came following results of in depth ore analysis at the site revealed recoverable ore at a concentration of 4.6g/t and proven probable reserves of 3.1 million ounces contained within the licenses boundaries. A second surveyed site within the Naikeng quartz field is still awaiting completion of testing on its recovered ore samples before a decision can be made regarding how to proceed.

With licenses for the further work on the Tascon-1 field already held, ground breaking is planned for early in the New Year with expectations of production commencing by as early as the end of that year. Initial development of the mine will see temporary employment created for some 470 personnel with the mine offering over 300 full time positions once production begins with the possibility of increased numbers as additional zones at the field are brought on line over time.

If the proposed production commencement before year’s end is met the Tascon-1 project will be one of the fastest maturing projects in ARUN's history having taken a little over 14 months from its initial proposal and partnership agreements being signed to gold production being achieved. Mr. David Stevens, ARUN Minerals Director of Operations (Jiangxi), described Tascon-1 as, “one of the best opportunities for large scale and rapid growth that has been available to any gold mining company at any stage or part of the world that I am aware of. Jiangxi is the largest single component of ARUN and once the Tascon-1 project comes on line its importance to our company, our investors and the people of the region will grow even larger with the solid future of expansion ahead of it.”

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