QIXIA
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Company Facts
The Shandong Yantai Golden Sea Mining Company (“Golden Sea”) is a Sino-Foreign Joint Venture company between Mineral Securities Limited (“Minsec”) and Qixia Jinxing Mining Company. Minsec has the right to earn 75% interest in the JV company by the expenditure of US$1.2 million over two years. |
Project Facts
The Golden Sea Joint Venture project area covers over 190km2 in Qixia County on the Shandong Peninsula in Eastern China, the largest gold producing region in China. The joint-venture now holds eight tenements covering 146.12km2, with two additional exploration licences (with a combined area of 36.05km2) currently being transferred to Golden Sea.
More Information
Geological Setting and Gold Mineralisation Styles
The Golden Sea tenements are located in the Shandong Peninsula, the largest gold producing region in China. Mineral Securities believes a systematic exploration programme has the potential to discover new mineralised systems beneath the thin cover of alluvium and colluvium which is widespread in the region.
Current Activities
During 2007, the Joint Venture carried our extensive soil sampling, mapping and geophysical surveys on all ten Golden Sea tenements.
The Joint Venture Company has identified numerous gold-in-soil anomalies and has highlighted several targets for infill sampling and systematic field assessment.
A ground-based magnetic survey has recently been completed over all the tenements.
Geological maps show a basement of Proterozoic-age granites intruding older gneissic rocks that are cut by major NE-trending fault structures. In places, the older rocks are overlain by less metamorphosed late Proterozoic rocks, or intruded by younger Mesozoic granite in the north of the tenements.
The presence of major NE-tending structures and associated splay faults on the tenements is regarded as a pre-requisite for gold mineralisation on the Shandong Peninsula as the major gold mines in the belt are located on these structures.
Follow-up Programmes
The magnetic and geochemical surveys are first-pass programmes designed to highlight and structurally favourable areas with anomalous geochemistry. The next phase of exploration is planned to involve infill soil sampling, mapping, costeaning, rock-chip sampling and IP surveys. The purpose of this work is to identify drill targets for testing in 2008.
