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Friday, 25th August 2006 (5585 views)

McVicar has acquired a 51 per cent interest in the Dahemian Gold property.

The company has struck a deal with Xingang Yitong Mine to purchase a controlling interest in the project, which is based near Luoyang City. The city is in Yiyang county, Henan province, China.

The site covers an area of 3.9 square kilometres and is in the Archean greenstone belt, within a breccia zone in a granite. Local surface mining revealed the presence of the mineralisation and this kind of exploration took place across six breccia zones.

To date, locals have mined gold grading between five and seven grams per tonne (g/t) in numerous narrow veins which usually stretch for 500 metres in length. In addition there are reports of one vein, 50 metres in width, which contains gold assaying 0.5-1 g/t Au.

Nor formal exploration work has been carried out on site so far, but the company plan to start this in the coming few days. A detailed programme will be announced after initial testing is completed.

 

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