Southeast Asia Mining Corp intends to complete a non-brokered private placement to raise up to $4 million. The funds will be used to advance the company's KEMCO/Boh Yai project in Thailand, to continue exploration surrounding this project and for working capital purposes.
Boh Yai is in Kanchanaburi Province is western Thailand and is the site of historic lead-zinc mining operations.
The lead–zinc occurrences of western Thailand have been known for a long time although little information has been published on the area. It is a well known mining district with records extending back over several centuries. Exploration for lead-zinc mineralization has taken place in several phases in the Kanchanaburi region but historical records for the region are poor. The early miners are thought to have been attracted by the silver content of the ores.
In 1970, the Kanchanaburi Mining & Exploration Company (KEMCO) was founded by the Bohl family in partnership with Metallgesellschaft and commenced an exploration program. A diamond drilling program of 3000 metres indicated the potential for 1.5 million tonnes of mineralization.
Further diamond drilling resulted in the definition of two ore bodies - Song Toh North and South - being outlined with ore reserves of 1.8 million tonnes with a grade of 11.5% lead and zinc. A number of promising targets were located in the surrounding area.
Between 1978 and the cessation of operations in 2002, a total of 5,237,800 tonnes of ore was produced and milled at the flotation plant located near Song Toh to produce 648,760 tonnes of lead and zinc concentrates.