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Monday, 20th August 2007 (2704 views)

A progress report has been issued by Mundoro Mining on its work at the Maoling Gold project in Liaoning Province, China.

So far, the gold miner reveals that it has completed exploration work including drilling a total of 231 holes with more than 26,000 samples of drill core cut and assayed.

Additionally, Mundoro notes that an updated resource estimate published in 2006 revealed 4.8 million measured and indicated gold ounces and 4.4 million inferred gold ounces resulting in a defined gold resource triple that of the 1990 estimate.

"Work on the feasibility study with Ausenco is in the final stages of completion and an interim report will be released by the end of the third quarter," the company noted in a statement.

It added that the focus of the final stages will be to confirm potential cost benefits through China-sourced mining.

Mundoro has a 79 per cent interest in the project through a Sino-Foreign cooperative joint venture with the corporate arm of the Maoling project, the Liaoning provincial government.

 

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