The exploration licence for Strategic Mining Corporation's recently acquired Nat Son gold property has been expanded to more than double its original size.
The licence expansion was granted by the People's Committee of Hoa Binh Province based on geology reports indicating the presence of gold and silver bearing quartz-arsenopyrite veins exposed at surface and within underground mine workings. The veins have been examined and studied over a strike length of 4km.
Strategic Mining's president Todd Sterck says, “This is important news for our company because it enables us to implement an enlarged work program to extract the potential gold resources contained on the Nat Son property.
“We're also extremely pleased with the decision in that it is a further demonstration of the provincial government's strong endorsement and support for our development of Nat Son and also for our plans to acquire and develop other mining properties in the province.”
In addition to expanding the mining exploration licence, the provincial government has:
- Built access roads to the property, installed water and power services, and constructed on-site worker accommodations.
- Granted Strategic Mining special no tax status for all imported mining equipment.
- Appointed fulltime staff to assist in the importation of the mining equipment.
- Committed to facilitating Strategic Mining's fulfilment of all provincial mining requirements as it moves forward with its development of the property.
The original mining licence covered 40 hectares while the new licence grants Strategic Mining the right to develop a larger 100 hectare section.
Nat Son is about 50km southwest of Hanoi in the centre of the gold-rich Kim Boi deposit.