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Inter-Citic Minerals Inc. (TSX:ICI) provided an update on permitting progress and the advancement of the Company’s Dachang Gold Project.
As quoted in the press release:
All key consultants to complete the studies necessary to permit the Dachang Main Zone and Placer Valley Zone (“PVZ”) have been engaged, and the Company expects many critical components of these studies to be complete by the first quarter of 2012.
As part of preparation for permitting and development Inter-Citic has now completed condemnation drilling in and around the Dachang Main Zone and associated construction areas.
This condemnation work in the DMZ area is now complete and the balance of the Company’s 25,000 meter exploration program has been dedicated to expanding known areas of mineralization away from the DMZ and testing new areas of trench discovery. Results from exploration drilling will be released as they become available.
Inter-Citic President, James Moore, said:
“After extensive exploration, including over 160,000 meters of diamond drilling, we believe the Dachang Main Zone, (the “DMZ”), Inter-Citic’s first proposed mining area, displays robust preliminary economics as shown in our 2009 Preliminary Economic Assessment because of its large scale, relatively shallow open-pit characteristics, excellent gold resource grade and a competitive China cost platform that provides a low capital expenditure requirement to develop the Company’s first mining operation.”
Click here to read theInter-Citic Minerals Inc. (TSX:ICI) press release
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