The Asia Miner

JUL-SEP 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Page 19 of 55

the asia miner • volume 15 • issue 3 18 FEATURE: All that glitters is gold A new underground channel sampling program has been completed by Southern Gold's development partner, Bluebird Merchant Ventures, at the Kochang Gold Project in South Korea. A total of 1,331 meters of vein was sampled at 5m intervals with 425 channel samples and 100 grab samples collected. Best channel samples returned were 0.24m at 65.8g/t Au and 170 g/t Ag and 0.18m at 69.2 g/t Au and 80 g/t Ag from the 245 Level. Hydrothermal quartz veining and brecciaঞon was mapped and sampled over 700m strike length within old workings and sampling was conducted over 2 levels of the 4 main levels that comprise the historical workings. Average grade along the 9 development drives from channels sampling was 5.9 g/t Au and 31 g/t Ag with average vein width of 0.42m. Parঞally stoped panels were observed with in-situ stockpiles being sampled with best assays from grab samples of 17.4g/t Au and 165 g/t Ag and 13.5g/t Au and 36g/t Ag on the 245 Level. Bluebird is currently invesঞng a total of US$1 million in the advancement of the historic Gubong and Kochang Gold Mines and earning 50 per cent project equity principally by defining a development framework to advance the projects on a capital cost of less than US$10 million. "We are very pleased to report the underground sampling results from the Kochang Gold Project which were completed by our development partner Bluebird Merchant Ventures. Bluebird has done a great job of confirming the scale and distribuঞon of the mineralisaঞon at Kochang and this work forms a very effecঞve base from which to advance the project towards producঞon," said Managing Director, Mr Simon Mitchell. "While there remains much work to be done before we get to that point, we are very pleased with the grade tenor, the consistent nature of the mineralisaঞon along the drives and the fact the system is open in mulঞple direcঞons. This all reinforces the economic potenঞal of the project which will be the subject of further studies." Kochang Gold project locaon in the Republic of Korea Bluebird Merchant Ventures moves forward at Kochang TAILINGS STORAGE FACILITY Golder Associates completed a preliminary geotechnical invesঞgaঞon, tailings characterisaঞon and TSF design for the PFS for the Project in 2013 and is currently conducঞng a geotechnical invesঞgaঞon and seismic study to progress the design of the TSF for the DFS. The hazard category for the TSF has been classified as Major, based on ANCOLD Guidelines, considering the Severity Level of Impacts and the failure Consequence Category. Accordingly, the containment embankment of the TSF must be designed and constructed as a fully engineered structure, taking into consideraঞon the foundaঞon condiঞons, site seismicity, available construcঞon materials, tailings characterisঞcs and the range of potenঞal rainfall events. The Kandeapi Valley, approximately 3 km east of the proposed process plant site, is considered to be most suitable locaঞon for the TSF. The proposed TSF embankment is aligned east-west across the Kandeapi Valley, with a saddle dam extension to the south-east. A convenঞonal downstream embankment configuraঞon has been selected as most appropriate for this highly seismic environment. For the pre-feasibility study the design slopes adopted are 1:2.5 (V:H) downstream and 1:3 (V:H) upstream. The required capacity of the TSF for the 10-year planned life of mine (LOM) is as follows: Tailings tonnage 25 Mt, Tailings volume 18 Mm³. Awak Mas to Salu Bulo – exploraon model for future drill targeng Process flowsheet

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