IVANHOE MINES has exercised its right of first refusal to participate in PACIFIC MINERALS’ Dandong gold project and three copper-silver projects in China’s Yunnan and Guizhou provinces. Ivanhoe can earn up to 50% of Pacific’s interest in joint ventures created for the projects, plus a further 25% by financing feasibility studies, and an additional 5% by arranging development funding.
Pacific has the right to earn up to a 90% interest in the Dandong property, which is adjacent to a pair of producing gold mines and a silver mine in the Liaoning Province of northeastern China. The property contains two areas of interest, one of which has been drilled and returned values such as 14.6 g/t Ag over 40.3 metres and 26.4 g/t Au over 9.3 metres.
Ivanhoe and Pacific are exploring for Cu-Ag-PGE deposits in two areas of Yunnan Province with YUNNAN GEOLOGICAL AND MINING CO. They have been investigating disseminated native copper mineralization that occurs within a continental flood basalt terrain of late Permian age. Copper grades of 2% to 10%, over 100 g/t Au and significant platinum and palladium credits have been identified. An area of similar geological potential is being explored in the neighbouring Guizhou Province.
To learn more about either Pacific or Ivanhoe visit www.pacific-minerals.com or www.ivanhoemines.com