China Shen Zhou Mining & Resources, Inc., a leading company engaged in the exploration, development, mining and processing of fluorite, zinc, lead, copper, and other nonferrous metals in China, today announced that it has obtained approval for the new mining license of its gold-copper mine from the Kyrgyzstan Geological and Mining Resources Department. The validity for this license lasts thirteen (13) years, from July 2008 until December 31, 2021.
Jessica Yu, China Shen Zhou’s Chairwoman and CEO states, ” We are very excited to obtain this new mining license for our gold-copper mine in Kyrgyzstan. Currently we are in the pre-development stage and relevant technical documents are under preparation for formal development in the near future. We anticipate all such preparations can be completed soon and the material developments can commerce before the end of 2008.”
Ms. Yu continues, “The 13-year-long mining license ensures we have enough time for more exploration, extraction and mining operations in our large scale gold-copper mine. We are committed to finding more valuable mineral resources, increasing our market visibility, enhancing investor awareness, and maximizing shareholders’ value. We are confident more and more investors will be interested in China Shen Zhou’s impressive story.”
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its subsidiary, American Federal Mining Group (’AFMG’), is engaged in the exploration, development, mining, and processing of fluorite and nonferrous metals such as zinc, lead and copper in China. The Company has the following principal areas of interest in China: (a) fluorite extraction and processing in the Sumochaganaobao region of Inner Mongolia; (b) zinc/copper/lead exploration, mining and processing in Wulatehouqi of Inner Mongolia; and (c) zinc/copper exploration, mining and processing in Xinjiang. In addition, AFMG owns 100% of Kichi-Chaarat Closed Joint Stock Company, whose major assets include a copper-gold mine located in the Kuru-Tegerek region of western Kyrgyzstan.
For more information, please visit http://www.chinaszmg.com/
About The Kuru-Tegerek Cu-Au Skarn Deposit and Exploration Area
The Kuru-Tegerek deposit is located in Chatkal region of the province of Jalal-Abad in the western part of Kyrgyz Republic. It occupies a southern slope of the Chandalash range, which is part of the Talas Altai mountains between the Chakmakus river and the Kuru-Tegerek river.
The area where the Kuru-Tegerek copper-gold deposit is sited is one of most geologically prospective regions of Kyrgyzstan. The region already hosts numerous deposits including primary hard rock and secondary placer deposits. The gold placer deposits occupy valleys of western tributaries of the Chatkal river and the primary deposits of copper, molybdenum and gold are found on the slopes of arms of the Chandalash mountain range. To date about 200 deposits, mineralized zones and mineral occurrences have been inventoried in this region.
The Kuru-Tegerek copper-gold deposit was a subject of multistage and long term exploration activities which resulted in detailed geological mapping geochemical and geophysical survey, drillings and underground mining works. During the period from 1975 to 1980 pre-feasibility studies were conducted over the deposit area which included 38,191m of diamond core drillings and 18,590 underground workings. These works are described in detail in the appropriate reports. As a result of all exploration works, the resources of ores and contents of metals were estimated according to the regulation of the former Soviet Union governmental authorities.
Kichi Chaarat Closed Joint Stock Company currently hold two licences: a mining licence covering 9km2 over the Kuru-Tegerek deposit and an exploration licence covering 39,500 hectares (h) of the area of the eastern slope of the Sandal mountain range which includes the Kuru-Tegerek mountain.
The Kuru-Tegerek Copper-Gold (Cu-Au) deposit includes 172.7 million tons (Mt) (C1+C2) with a contained metal content of 97.36t for gold and 1.02Mt for copper. The Molybdenite ore body in Kuru-Tegerek also contains resources (C2) of molybdenum and rhenium which contain 4,883t of Molybdenum (Mo) and 2,328 kilograms (kg) of Rhenium (Re).
If the mine is selectively mined at a higher cut off grade, the underlying resources would have a much higher grade without losing significant amounts of metal concentrate.