Chinese Government Issues Drilling License to Explore and Drill Four Major Gold Deposits in Southern China
Posted on: Wednesday, 12 December 2007, 09:00 CST
Bolivar Mining (Pink Sheets:BOLV) announced today that it has reached an understanding to explore and drill four additional gold bearing targets in southern China in the first half of 2008. The Company announced earlier that it has acquired a 40% interest in one of the Gold producing area, Red Dragon 1. Red Dragon 1 is one of four mine sites at the Red Dragon Property.
The drilling and production license for the Red Dragon Property was issued by the provincial government of the Guangdong Province. The license is valid for three years, after which it will be renewed provided all the parties involved comply with rules and regulations. The drilling and production permit encompasses area identified in the original application, which management believes contains substantial gold reserves.
"Obtaining mining permits in China is a lengthy, costly, and complicated process," said Bolivar Mining CEO and President, Arshad Shah. "China can be a challenging place to do business. Governmental and industry contacts are essential to establish business relationships and accomplish critical milestones and fulfill our obligations. Through our Chinese joint venture partners, we have firmly established our presence in the region. We are very pleased to report on our approval from the provincial government in the Guangdong Province to drill and explore these three gold deposits. We are very excited about the enormous potential in this region."
About Bolivar Mining:
Bolivar Mining Corp is an exploration and mining company pursuing global mining prospects in five countries on three continents. By streamlining operations, BMC will have opportunities to operate in areas where larger mining companies cannot operate profitably. For more information, visit www.bolivarmining.com.
Forward Looking Statement:
Information in this press release may constitute forward-looking statements based upon reasonable assumptions, however it can give no assurance that its expectations will be achieved. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties. The Company's ability to accurately forecast its operating results, are uncertain. BMC assumes no obligation to update forward-looking statements that become untrue because of subsequent events. Readers are cautioned not to place undue reliance on these forward-looking statements.
Source: Business Wire
Related Articles
- Tao Minerals to Begin Mining Operations at Its El Colmillo Gold Mine
- China Shen Zhou Mining & Resources Announces the Finding of Prospective Mining Area in Its Large-Scale Gold and Copper Mine Located in Kyrgyz Republic
- Bolivar Mining Secures 40% Interest in Producing Gold Mine in China
- Bralorne Mining President, Zhang Feng Ming, Expects a 5-10% Market Share By 2008 As Company Looks to Develop VoIP Market in China
- Bernanke Says Fed Policy Must Be Forward-looking
- Coal Mine Flooding Leaves Seven Miners Dead in Southwest China
- Westinghouse Lauds Progress Energy for Proactive, Forward-Looking Approach to Nuclear Fleet Expansion
- Russia to Mine Up to 250 Tonnes of Gold Per Year By 2015 - Trutnev
- Coal Mine Explosion Kills at Least 11 in NW China
- Coal Mine Owner Arrested for Fatal Flooding Accident in S. China
 |
 |
User Comments (1)
| 1. |
Posted by Raphael on 02/07/2009, 07:45 How can help me to get Investors to be joint venture to drilling mining an Uranium,Petrol,Gas Please if possible to process this issure please contant me by Email:Iddimr@yahoo.com and Cel +255 713 319 334 I am waiting you your response, Yous, Raphael |
RSS Feeds