Bluebird Merchant Ventures Kochang Results Reinforce View Of Mine

LONDON (Alliance News) - Bluebird Merchant Ventures Ltd said Monday the underground sampling ...

Alliance News 11 February, 2019 | 12:12PM
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LONDON (Alliance News) - Bluebird Merchant Ventures Ltd said Monday the underground sampling programme at its Kochang mine in South Korea reinforced the miner's positive view on the project.

Bluebird said it was pleased with the results of the Korean Resources Corp (Kores) study showing a "strong correlation" to the results from the company's own work carried out in the first half of 2018.

"It is always pleasing to see corroboration of one's technical work. These results reinforce our opinion that Kochang has a good deal of life left in it," said Chief Executive Officer Colin Patterson.

The total indicated and inferred resources from the Kores study was 113,280 ounces gold, compared to Bluebird's own study showing 116,880 ounces gold.

Bluebird - which attempts to bring old mines back into production - reported a gold grade of 5.94 grammes per tonne compared to Kores's 6.55 grammes per tonne. The miner stressed however the results are from a "very small" area of the mine.

Shares in Bluebird Merchant Ventures were trading flat in London on Monday at 2.75 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Bluebird Merchant Ventures Ltd 2.15 GBX -4.44 -
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