Lantern Mining has completed its feasibility study of prospective project land in the Wenshan region on-time and under budget.
Online PR News – 24-June-2015 – Yunnan, China – Yunnan, China-based gold explorer and miner, Lantern Mining says it has completed a feasibility study of a 10km2 area of land in the Wenshan district of Yunnan province.
The company was granted an extension to an existing exploration license in March 2014 after a geological survey it commissioned indicated a strong likelihood of the existence of a vein deposit located up to 300 meters below the surface.
According to Tammy Loy, Vice President of Exploration at Lantern Mining, the feasibility study was completed on-time and under budget. It has envisaged an open-pit operation in which crushing, clustering and stacking onto a standard heap leach pad would be most appropriate. Gold recovery will rely on a Merrill-Crowe separation technique that will produce doré bars to be transported to the company’s Qujing project site for further refinement.
“Our conservative estimate is that the Wenshan project will have a 5 or 6 year life with a projected mining rate of some 6,000 tonnes per day. The mine will be an economically-viable, high margin, reduced-risk project that will add significant additional value to our overall operations,” said Loy.
Lantern Mining, which recently confirmed that it will be selling a significant stake in its equity to investors by way of an initial public offering, says it will not need to secure additional financing to fund construction of the mine.
“This promises to be an exciting year for Lantern Mining. Our performance has been stellar and the forthcoming IPO reflects the fact that we have come of age as mid-tier gold miner,” said Mr. Loy.
About Lantern Mining:
At Lantern Mining we have a deep commitment to strengthen the value of our company for our share holders.
We believe increased value comes from the continued exploration and discovery of source materials, through the acquisition and development of established gold reserves and through the successful operation of soundly run mines.
Our standards will not tolerate any willful neglect of ethical standards, we provide a safe working environment for our miners and we will endeavour to do our utmost in maintaining as little environmental impact as is possible.
We are a company who is committed to providing environmental and socially responsibility. We are committed to providing a safe working environment to all our employees where ever it is that they choose to work within our organization.