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Drilling sites at Cunli-Ji Mine were found to contain gold
Shenzhen, China (PRWEB) November 04, 2013
China Shouguan Mining Corporation (OTCBB: CHSO), a premier gold mining exploration and advisory Company with operations in Shandong, China, is conducting extensive exploration on two major veins at their Cunli-Ji Mine. Sixteen drill sites were found to contain gold and the Company will release a formal exploration report once complete. Shandong is home to roughly 25% of Chinas proven gold reserves, with over 10.2 tons of gold ore recovered each month.
Terry Tsao, Director of Investor Relations for China Shouguan Mining Corporation, said We are very pleased with our gold exploration efforts so far at the Cunli-Ji mine, which is operating under three exploration licenses. Just one of our licenses, covering .27 square miles with sixteen drill sites has produced gold indications, representing incredible potential for the Company and our shareholders.
Terry continued, The Companys other two licenses cover the JYS and CJG mines, totaling 15.5 miles of property. Exploration efforts at the JYS mine are underway and the CJG mine exploration efforts are beginning to ramp up. We have 103.75 acres currently under exploration, with a total of 3,897 acres of mining property. China Shouguan believes its extensive mining property holdings are an invaluable asset to be exploited in the years ahead. Some of Chinas largest and most profitable gold mining companies have found huge success in the Shandong region, creating billion dollar valuations. We believe China Shouguan is on that path.
Tsao concluded, Additionally, the Company is aggressively seeking new mine exploration, leasing and acquisition opportunities throughout not only Shandong, but Greater China and other countries with large gold deposits. It is China Shouguans goal to maximize value from its Cunli-Ji and Dayuan mines and lease or acquire more mines globally in order to build the China Shouguan portfolio. We are confident that 2014 will be China Shouguans Golden Year.
About China Shouguan Mining Corporation
China Shouguan Mining Corporation is a gold and precious metals mining company with operations in Shandong Province, China. The Company acquires or leases underperforming mines in major mineralization zones, then funds their expanded exploration and production utilizing industry leading analysis, techniques and machinery. The Company additionally provides mining technical analysis and consultation.
For more information, please contact: Terry Tsao, Director of Investor Relations
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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