Shanghang, China
Shanghang, China

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Zhong J.,Peking University | Chen Y.-J.,Peking University | Pirajno F.,University of Western Australia | Chen J.,Peking University | And 3 more authors.
Ore Geology Reviews | Year: 2014

The Luoboling Cu-Mo deposit in the Zijinshan Orefield, Fujian province, southeastern China, is a large porphyry deposit hosted by the Sifang granodiorite and the Luoboling granodiorite porphyry. The largest Cu-Mo orebody is saddle-shaped with various types of hydrothermal veinlets. Intensive hydrothermal alteration in the deposit is characterized by outward zoning from potassic, overprinted by phyllic alteration, to phyllic and alunite-dickite alteration. Based on the mineral assemblages and crosscutting relationships of veins, the ore-forming process can be divided into three stages, namely: an early-stage K-feldspar+quartz±magnetite±molybdenite veins associated with potassic alteration; a middle-stage quartz+molybdenite+chalcopyrite+pyrite veins in phyllic zone; and a late-stage quartz±gypsum veins in the phyllic and alunite-dickite alteration zones. Six molybdenite separates yield a Re-Os isochron age 104.6±1.0Ma, which is identical to the age of emplacement of the Sifang and Luoboling granodiorite porphyries. Three types of fluid inclusions (FIs) were observed at the Luoboling deposit: 1) NaCl-H2O (aqueous), 2) daughter mineral-bearing and 3) CO2-H2O fluid inclusions. FIs of the early and middle stages are predominantly vapor-rich aqueous and daughter mineral-bearing inclusions, together with minor CO2-rich and liquid-rich aqueous inclusions; whereas the late-stage minerals only contain liquid-rich aqueous inclusions. Homogenization temperatures and salinities of FIs trapped in the early-stage minerals range from 420 to 540°C and 0.4 to 62.9wt.% NaCl equiv., respectively. FIs of the middle-stage yield homogenization temperatures of 340 to 480°C and salinities of 0.5 to 56.0wt.% NaCl equiv. CO2 content and the oxygen fugacity (indicated by daughter minerals) of FIs trapped in middle-stage minerals are lower than those in the early stage. The liquid-rich aqueous inclusions of the late-stage homogenize at temperatures of 140 to 280°C, yielding salinities of 0.4 to 8.4wt.% NaCl equiv. The minimum estimated pressures of the three stages are 30-70MPa, 10-40MPa and 1-10MPa, respectively, corresponding to minimum ore-forming depths of 1-2.8km. Fluids trapped in early, middle and late stages yield δD values of -67‰ to -54‰, -54‰ to -70‰, and -62‰, and δ18O values of 5.4‰ to 6.7‰, 2.8‰ to 4.2‰, and -2.1‰, respectively. Fluid boiling, which resulted in the formation of stockworks and the precipitation of sulfides, occurred in the early and middle stages. The fluids subsequently evolved into a low temperature, low salinity system in the late stage, along with an input of meteoric water. The Luoboling porphyry Cu-Mo system was developed in a transition from continental arc to back-arc extension region, which was related to the westward subduction of the paleo-Pacific plate beneath the Huanan Orogen. •The Luoboling porphyry Cu-Mo deposit, Zijinshan Orefield, occurs in Huanan Orogen.•The deposit developed in a transition from continental arc to back-arc extension at ~105Ma.•It is shallow-seated and contains CO2-rich, daughter mineral-bearing and aqueous inclusions.•Ore fluids evolved from hypothermal, saline and CO2-rich to epithermal, dilute, CO2-poor.•H-O isotope signatures show the fluids evolved from magmatic to meteoric in origin. © 2013 Elsevier B.V.


Agreement concludes four years of negotiation and confirms the support and the desire of the DRC to be a prominent partner in the building of the world-scale Kamoa-Kakula Copper Project KINSHASHA, DEMOCRATIC REPUBLIC OF CONGO--(Marketwired - Nov. 18, 2016) - Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX:IVN)(OTCQX:IVPAF), and Lars-Eric Johansson, Chief Executive Officer, announced today that Ivanhoe and its joint-venture partner, Zijin Mining Group Co., Ltd., have signed a landmark agreement that confirms the support and desire of the government of the Democratic Republic of Congo (DRC) to be a prominent partner in the development of the Kamoa-Kakula Copper Project. The agreement, which was signed in Kinshasa, DRC, by the Minister of Mines and Minister of Portfolio on November 11, 2016, transfers an additional 15% interest in the Kamoa-Kakula Copper Project to the DRC government, increasing its total stake in the project to 20%. As a result of the transaction, Ivanhoe Mines and Zijin each hold an indirect 39.6% interest in the Kamoa-Kakula Copper Project while Crystal River Global Limited holds an indirect 0.8% interest and the DRC Government holds a direct 20% interest in the Kamoa-Kakula Copper Project. "This is a historically significant event for the people of the Democratic Republic of Congo," said Mr. Friedland. "We now are united as partners committed to working closely together toward our shared objective of ensuring that the major copper discoveries we have made at Kamoa and Kakula during the past eight years can be predictably, efficiently and expeditiously developed into a world-scale mining venture with a lifespan of multiple generations." Mr. Johansson said the agreement "paves the way to fulfil Kamoa-Kakula's promise of decades of substantial, long-lasting, economic and social benefits for the Congolese people and the strengthening of the national government's capacity to support the development of international trade and building of the country." Ivanhoe Mines is advancing its three principal projects in Sub-Saharan Africa: Mine development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern Limb of South Africa's Bushveld Complex; mine development and exploration at the Kamoa-Kakula Copper Project on the Central African Copperbelt in the DRC; and upgrading at the historic, high-grade Kipushi zinc-copper-lead-germanium mine, also on the DRC's Copperbelt. For details, visit www.ivanhoemines.com. Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including without limitation: (i) the impact of the share transfer agreement on the development of the project and the partnership with the DRC going forward; (ii) the application of taxes and duties to the Kamoa-Kakula Copper Project; (iii) the support of the government of the DRC to the development of the Kamoa-Kakula Copper Project; (iv) the future application of law no. 14/005; and (v) the structure, terms and treatment of shareholder loans and dividends relating to Kamoa Copper. Such statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release. With respect to this specific forward-looking information included in this release, the company has based its assumptions and analysis on certain factors that are inherently uncertain. Uncertainties include among others: (i) the adequacy of infrastructure; (ii) geological characteristics; (iii) metallurgical characteristics of the mineralization; (iv) the ability to develop adequate processing capacity; (v) the price of copper; (vi) the availability of equipment and facilities necessary to complete development; (vii) the cost of consumables and mining and processing equipment; (viii) unforeseen technological and engineering problems; (ix) accidents or acts of sabotage or terrorism; (x) currency fluctuations; (xi) changes in governments, and in laws, regulations or their application; (xii) the availability and productivity of skilled labour; (xiii) the regulation of the mining industry by various governmental agencies; and (xiv) political factors. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed here, as well as unexpected changes in governments and laws, rules or regulations, and their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results (including the actual results of drilling and exploration activities,) or results that would justify and support continued exploration, studies, development or operations. Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth in the "Risk Factors" section and elsewhere in the company's most recent Management's Discussion and Analysis report and Annual Information Form, available at www.sedar.com.


VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 25, 2016) - Ivanhoe Mines (TSX:IVN) announced today that it has received the third installment of US$41.2 million owing from a subsidiary of Zijin Mining Group Co., Ltd. as part of a strategic co-development agreement under which Zijin acquired 49.5% of Ivanhoe's majority stake in the Kamoa-Kakula copper discovery now being jointly developed by Ivanhoe and Zijin in the Democratic Republic of Congo. Zijin - through its subsidiary, Gold Mountains (H.K.) International Mining Company Limited - agreed to pay US$412 million for a 49.5% interest in Ivanhoe subsidiary Kamoa Holding Limited that presently owns 95% of the Kamoa-Kakula Project. Zijin paid an initial US$206 million at closing in December last year, followed by the payment of the first two of five scheduled US$41.2 million installments in March and July of this year. The receipt of the third installment from Zijin has increased Ivanhoe's consolidated working capital to approximately US$395 million (C$529 million). This represents approximately C$0.68 per issued and outstanding common share of Ivanhoe Mines. The remaining US$82.4 million is required to be paid in two further equal installments, every 3.5 months, with the next installment due on February 8, 2017. The installment payments are secured by a pledge of shares of Kamoa Holding Limited with proportionate releases of the security on the pledged shares following receipt of each installment payment. Ivanhoe Mines is advancing its three principal projects in Sub-Saharan Africa: Mine development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern Limb of South Africa's Bushveld Complex; mine development and exploration at the Kamoa-Kakula Copper Project on the Central African Copperbelt in the DRC; and upgrading at the historic, high-grade Kipushi zinc-copper-lead-germanium mine, also on the DRC's Copperbelt. For details, visit www.ivanhoemines.com. Certain statements in this news release may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, the payment by a subsidiary of Zijin of US$82.4 million in two equal installments of US$41.2 million every 3.5 months. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Ivanhoe Mines to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect Ivanhoe Mines' current expectations regarding future events, performance and results and speak only as of the date of this news release.


VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 8, 2017) - Ivanhoe Mines (TSX:IVN)(OTCQX:IVPAF) announced today that it has received the fourth installment of US$41.2 million owing from a subsidiary of Zijin Mining Group Co., Ltd. as part of a strategic co-development agreement under which Zijin acquired 49.5% of Ivanhoe's majority stake in Kamoa Holding Limited that holds the interest in the Kamoa-Kakula copper discovery, now being jointly developed by Ivanhoe and Zijin in the Democratic Republic of Congo. Zijin - through its subsidiary, Gold Mountains (H.K.) International Mining Company Limited - agreed to pay US$412 million for a 49.5% interest in Kamoa Holding Limited. Zijin paid an initial US$206 million at closing in December 2015, followed by the payment of the first three of five scheduled US$41.2 million installments in March, July and October of last year. Following the signing of a partnership agreement with the DRC government in November 2016, Ivanhoe and Zijin Mining now each hold an indirect 39.6% interest in the Kamoa-Kakula Project, Crystal River Global Limited holds an indirect 0.8% interest and the DRC government holds a direct 20% interest. Kamoa Holding Limited continues to hold an 80% interest in the Kamoa-Kakula Project. After the receipt of the fourth installment from Zijin, Ivanhoe's consolidated working capital is approximately US$355 million (C$467 million). The fifth and final US$41.2 million installment payment is due on May 23, 2017. The installment payments are secured by a pledge of shares of Kamoa Holding Limited with proportionate releases of the security on the pledged shares following receipt of each installment payment. Ivanhoe Mines is advancing its three principal projects in Sub-Saharan Africa: Mine development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern Limb of South Africa's Bushveld Complex; mine development and exploration at the Kamoa-Kakula copper discovery on the Central African Copperbelt in the DRC; and upgrading at the historic, high-grade Kipushi zinc-copper-lead-germanium mine, also on the DRC's Copperbelt. For details, visit www.ivanhoemines.com. Certain statements in this news release may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, the payment by a subsidiary of Zijin of the fifth installment payment of US$41.2 million on May 23, 2017. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Ivanhoe Mines to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect Ivanhoe Mines' current expectations regarding future events, performance and results and speak only as of the date of this news release.


Landmark Agreement to Transfer an Additional 15% Interest in the Kamoa-Kakula Copper Project to the DRC Government Also Will Be Discussed TORONTO, ONTARIO--(Marketwired - Nov. 22, 2016) - Robert Friedland, Executive Chairman of Ivanhoe Mines Ltd. (TSX:IVN) (OTCQX:IVPAF), Lars-Eric Johansson, Chief Executive Officer, and other members of the company's senior management team will host a conference call on Monday, November 28 at 8:00AM EST (5:00AM PST / 1:00PM GMT) to provide updates on corporate and project developments. Specifically, the Ivanhoe team will address details of the landmark agreement recently signed with the company's joint-venture partner, Zijin Mining Group Co., Ltd., to transfer an additional 15% interest in the Kamoa-Kakula Copper Project to the government of the Democratic Republic of Congo. Highlights of the transfer agreement are contained in Ivanhoe's November 18, 2016, news release, available at https://www.ivanhoemines.com/assets/docs/nr/2016-11-18_nr.pdf. In addition, and further to Ivanhoe's August 29, 2016, announcement that it was exploring strategic options to help address unsolicited interest that has been received regarding potential corporate and project opportunities, Ivanhoe remains engaged in friendly and detailed discussions with potential strategic partners and investors relating to the company and its projects. The conference call may be accessed by dialling +1 416-340-2218 or 1-866-223-7781 (Canada and U.S. toll-free number). Callers outside North America may refer to https://www.confsolutions.ca/ILT?oss=1P29R8662237781 for their country-specific toll-free dial-in number. The conference call will be archived for later playback until December 12, 2016 and may be accessed by dialling +1 905-694-9451 or 1-800-408-3053 and entering the passcode 4305756.


Independent tests produced a concentrate with an extremely high grade of 56% copper KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO--(Marketwired - Nov. 8, 2016) - Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX:IVN), and Lars-Eric Johansson, Chief Executive Officer, today announced additional excellent metallurgical results from tests conducted on drill core from ongoing exploration at the Kakula Discovery, in a southerly portion of the Kamoa-Kakula Copper Project. The bench-scale metallurgical flotation test work carried out at XPS Consulting and Testwork Services laboratories in Falconbridge, Canada, achieved copper recoveries of 87.8% and produced a concentrate with an extremely high grade of 56% copper using the flowsheet developed during the Kamoa pre-feasibility study (PFS). The material tested was a composite of recent, chalcocite-rich Kakula drill core, assaying 8.1% copper. "These new Kakula metallurgical test results are highly positive as they indicate that, by employing a conventional milling and flotation process, Kakula should produce an extremely high-grade and clean copper concentrate that would be highly coveted by copper smelters around the world," said Vongani Nkuna, Kamoa's Senior Process Engineer. "The XPS metallurgical results further demonstrate the high quality of the Kakula Discovery." The Kamoa-Kakula Copper Project, located approximately 25 kilometres west of the town of Kolwezi, is a joint venture between Ivanhoe Mines and Zijin Mining Group Co., Ltd. The 60-square-kilometre Kakula Discovery zone is on the Kamoa mining licence, approximately 10 kilometres southwest of the project's planned initial mining area at Kansoko Sud. XPS's metallurgical results build upon initial test results from Zijin's laboratory in China The XPS bench-scale test work findings will be used in the ongoing preliminary economic assessment now underway for Kakula. The XPS results corroborate the results from testing of a Kakula drill core composite sample that was conducted at Zijin's laboratory in China in July 2016. The July 2016 initial metallurgical test results achieved copper recoveries of 86% and produced a copper concentrate with a grade of 53% copper. The results also indicated that material from Kamoa's Kakula and Kansoko zones could be processed through the same concentrator plant, which could yield significant operational and economic efficiencies. Zijin's tests of the Kakula sample also used the flowsheet developed during the Kamoa PFS. The material tested was a composite of drill holes assaying 4.1% copper. As a comparison, testing of a previous development composite sample from the planned, initial mining deposit at Kamoa's Kansoko Sud zone and the adjacent Kansoko Centrale zone, assaying 3.61% copper, achieved an 85% recovery and a concentrate grade of 37% copper. Additional, earlier metallurgical testwork indicated that the Kamoa concentrates contain extremely low arsenic levels, by world standards - approximately 0.02%. Given this critical competitive marketing advantage, Kamoa's concentrates are expected to attract a significant premium from copper-concentrate traders for use in blending with concentrates from other mines. The Kamoa concentrates will help to enable the other concentrates to meet the limit of 0.5% arsenic imposed by Chinese smelters to meet China's new environmental restrictions. Kamoa-Kakula now ranks among the world's 10 largest copper deposits and remains open for significant expansion On October 12, 2016, Ivanhoe Mines released the initial Resource estimate for its Kakula Discovery at the Kamoa-Kakula Project. Highlights of the initial Kakula Mineral Resource estimate, prepared by Ivanhoe under the direction of Amec Foster Wheeler E&C Services Inc., of Reno, USA, in accordance with the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves are: The initial Kakula Mineral Resource was defined by drilling covering a total area of 8.7 square kilometres within the larger 60-square-kilometre Kakula Exploration Area. The Kakula high-grade mineralization remains open for significant expansion along trend to the northwest and the southeast, while the remainder of the Kakula Exploration Area remains untested. The Kakula Mineral Resource estimate was based on the results from approximately 24,000 metres of drilling in 65 holes. With the significance of the Kakula Discovery now firmly established, the Kakula exploration program has been significantly expanded by a further 60,000 metres. The expanded program is planned to run through to the end of the second quarter of 2017 and will consist of infill drilling, resource expansion and exploration. With the addition of Kakula's Mineral Resources, research by Wood Mackenzie - a prominent, international industry research and consulting group, based in the U.K. - has independently demonstrated that the Kamoa-Kakula Project is the largest copper discovery in Zambia and the Democratic Republic of Congo (DRC), making it the largest copper discovery ever made in the history of mining on the African continent. In addition, research by Wood Mackenzie also shows that Kamoa-Kakula already ranks among the 10 largest copper deposits in the world. The combined Kamoa-Kakula Indicated Mineral Resources now total 944 million tonnes grading 2.83% copper, containing 58.9 billion pounds of copper at a 1.0% copper cut-off grade and a minimum true thickness of three metres. Kamoa-Kakula now also has Inferred Mineral Resources of 286 million tonnes grading 2.31% copper and containing 14.6 billion pounds of copper, also at a 1.0% copper cut-off grade and a minimum true thickness of three metres. The Kakula Mineral Resource estimate was prepared by Ivanhoe Mines under the direction of Dr. Harry Parker and Gordon Seibel, both RM SME, of Amec Foster Wheeler. Dr. Parker and Mr. Seibel are the Qualified Persons for the estimate, which has an effective date of October 9, 2016. A technical report will be filed on SEDAR within 45 days of the issuance of the October 12, 2016 news release. With the initial Kakula Mineral Resource estimate completed, Kamoa Copper SA, holder of the Kamoa mining licence, has retained OreWin Pty. Ltd., of Adelaide, Australia, to prepare a preliminary economic assessment (PEA) for the development of the Kakula deposit. The PEA, which is expected to be completed before the end of 2016, will concentrate on establishing the economic parameters of potential mining operations at Kakula, including capital and operating costs for an underground mine. The PEA also will analyze process facilities, mining planning and scheduling, including capital costs and operating costs for both mining and concentrator operations. The PEA will draw on recommendations from the Kamoa 2016 PFS, including the potential to increase production up to four million tonnes per year from the proposed initial mining area. Kakula mineralization is characteristically bottom-loaded. The Kakula Mineral Resource estimate demonstrates that opportunities exist to mine Kakula at much higher lateral and vertical cut-offs than at Kamoa's Kansoko Sud. The clear zonation and grades in the central high-grade core should provide sequencing opportunities to mine at significantly elevated grades. To help advance the mine-planning work at Kakula, the Kamoa technical team is rapidly proceeding with the engineering of a box cut at Kakula to accommodate decline ramps that will provide underground access to the deposit. Scientific and technical information in this news release has been reviewed and approved by Stephen Torr, P.Geo., Ivanhoe Mines' Vice President, Project Geology and Evaluation, a Qualified Person under the terms of National Instrument 43-101. Mr. Torr has verified the technical data disclosed in this news release. Ivanhoe Mines is advancing its three principal projects in Sub-Saharan Africa: Mine development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern Limb of South Africa's Bushveld Complex; mine development and exploration at the Kamoa-Kakula Copper Project on the Central African Copperbelt in the DRC; and upgrading at the historic, high-grade Kipushi zinc-copper-lead-germanium mine, also on the DRC's Copperbelt. For details, visit www.ivanhoemines.com. Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including without limitation: (i) statements regarding the expectation that material from Kamoa's Kakula and Kansoko zones can be successfully processed through the same concentrator plant; (ii) statements regarding that by employing a conventional milling and flotation process, Kakula should produce an extremely high-grade and clean copper concentrate that would be highly coveted by copper smelters around the world; (iii) statements that given the expected extremely low arsenic levels, Kamoa's concentrates are expected to attract a significant premium from copper-concentrate traders for use in blending with concentrates from other mines, (iv) statements regarding Kamoa concentrates will help to enable the other concentrates to meet the limit of 0.5% arsenic imposed by Chinese smelters to meet China's new environmental restrictions; (v) statements regarding the completion of 60,000 metres of drilling at Kakula in the second quarter of 2017; and (v) statements regarding that the preliminary economic assessment for the development of the Kakula deposit is expected to be completed before the end of 2016. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed here, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social, political or labour unrest; changes in commodity prices (and copper in particular); limitations and availability of capital; and the failure of exploration programs or studies to deliver anticipated results (including the actual results of drilling and exploration activities), or results that would justify and support continued exploration, studies, development or operations. This news release also contains references to estimates of Mineral Resources. The estimation of Mineral Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource estimates may have to be re-estimated based on, among other things: (i) fluctuations in copper prices or other mineral prices; (ii) results of drilling; (iii) results of metallurgical testing and other studies; (iv) changes to proposed mining operations, including dilution; (v) the evaluation of mine plans subsequent to the date of any estimates; and (vi) the possible failure to receive required permits, approvals and licences, or changes to any such permits, approvals or licences. Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth in the "Risk Factors" section and elsewhere in the company's most recent Management's Discussion and Analysis report and Annual Information Form, available at www.sedar.com.


News Article | November 22, 2016
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 22, 2016) - Javelle Capital Corp. (NEX:JVL.H) (the "Company" or "Javelle"), a capital pool company listed on the NEX Board of the TSX Venture Exchange (the "Exchange"), is pleased to announce that it has signed an Amalgamation Agreement dated November 18, 2016 (the "Agreement") with Kenadyr Mining Corporation ("KMC"), a private British Columbia corporation, whereby Javelle will acquire all of the outstanding shares of KMC (the "Proposed Transaction") in exchange for common shares of the Company. KMC holds all of the issued and outstanding securities in PIC Ala-Too, a Kyrgyz Republic company that is the 100% legal and beneficial holder of an exploration license related to KMC's mineral project located in Borubai, northern Kyrgyz Republic (the "Borubai Project"). KMC was incorporated under the provisions of the Business Corporations Act (British Columbia) on August 11, 2014 and currently has 79,898,024 common shares issued and outstanding and share purchase warrants outstanding to purchase up to an additional 4,633,044 common shares. KMC's primary business is mineral exploration in the Kyrgyz Republic, specifically gold exploration in Borubai. KMC is at arm's length to Javelle. KMC holds all of the issued and outstanding securities in PIC Ala-Too, a Kyrgyz Republic company registered in Bishkek, which is the 100% legal and beneficial holder of an exploration license related to KMC's Borubai Project. The Borubai Project comprises a 100% owned exploration license covering a contiguous 164 sq km's and is located in northern Kyrgyz Republic. The Borubai Project has been the subject of extensive historic exploration including: drilling (98,200 m in 184 diamond drill holes), trenching (13,800 cu.m.), bulldozer cuts (33,400 cu.m.), geologic mapping at 1:25,000 and 1:50,000 scales, ridge and spur and grid soil geochemistry for multi elements (14,200 samples), rock geochemical sampling (2,320 samples), pan concentrate sampling (790 samples), and 100 meters of adits and 184 meters of underground raises. Additionally, the entire area has been subject to airborne magnetic, radiometric and gravity surveys as well as ground based resistivity and IP surveys. The Borubai Project encircles the Zijin/KyrgyzAltyn newly constructed and operational Taldy-Bulak Levoberejny Mine ("TBL Mine") which was built at a cost of US$296mm. According to a news release published by Zijin Mining Group Co., Ltd. on August 15, 2011, the national resources table of Kyrgyz Republic stated that the Taldy-Bulak Levoberejny field contains (C1+C2) grades: 8,906,100 tonnes gold ore,the average grade is 7.23g/t, and gold metal is 64,420.5kg, among which, C1 grade (initial mining reserve) 4,949,754 tonnes gold ore,the average grade is 7.02g/t, and gold metal volume is 34,754.6kg. The TBL Mine is designed to produce 125,000 oz. Au/annum. The TBL Mine orebody directly connects to KMC's initial drill target "The South Zone" which was previously drilled by the Soviets. Readers are cautioned that the resource and reserve estimates relating to the TBL Mine do not extend to KMC's Borubai Project. Neither KMC or Javelle has independently verified the information with respect to the TBL Mine provided in this news release and it is not necessarily indicative of the mineralization on the Borubai Project. A qualified person has not done sufficient work to classify the historical estimates on the TBL Mine as current mineral resources or mineral reserves and neither KMC or Javelle is aware of the resource and reserve categories or the key assumptions, parameters and methods used to prepare the historical estimates on the TBL Mine. The Company is not treating the historical estimates on the TBL Mine as current mineral resources or mineral reserves as defined in NI 43-101 - Standards of Disclosure for Mineral Projects. The Company cautions readers that the historical estimates on the TBL Mine disclosed in this news release should not be relied upon. Technical information in this news release has been approved by Brian Lueck, a director of KMC, and a Qualified Person as defined by NI 43-101 - Standards of Disclosure for Mineral Projects. Financial information related to the significant assets of KMC will be disclosed when available. The Proposed Transaction will be effected by way of a three-cornered amalgamation without court approval under the Business Corporations Act (British Columbia), pursuant to which Javelle will acquire, through the amalgamation of a newly incorporated British Columbia subsidiary of Javelle with KMC, all of the issued and outstanding shares of KMC (the "KMC Shares"), in exchange for common shares of Javelle (each, a "Javelle Share") and KMC will become a subsidiary of Javelle. Prior to the closing of the Proposed Transaction, Javelle will change its name to Kenadyr Mining (Holdings) Corp., or such other name as agreed by the parties, and will complete a consolidation of the Javelle Shares on the basis of one post-consolidation Javelle Share for every two pre-consolidation Javelle Shares. Pursuant to the Proposed Transaction, the shareholders of KMC will receive one post-consolidation Javelle Share for each KMC Share held at a deemed issue price of $0.35 per share. No concurrent financing is anticipated to occur in connection with the Proposed Transaction. KMC holds approximately C$10mm in cash as at the date of this news release. Upon completion of the Proposed Transaction, all of the outstanding share purchase warrants of KMC will cease to represent a right to acquire KMC Shares and will instead provide the right to acquire post-consolidation Javelle Shares, all in accordance with the adjustment provisions provided in the certificates representing the warrants. The Proposed Transaction is subject to, among other things, receipt of the approval of the shareholders of KMC, final approval of the Exchange and standard closing conditions, including the conditions described below. KMC shareholders representing approximately 40% of the issued and outstanding KMC Shares have entered into support agreements pursuant to which they have agreed to vote their KMC Shares in support of the Proposed Transaction. The Proposed Transaction will constitute Javelle's qualifying transaction pursuant to Policy 2.4 - Capital Pool Companies of the Exchange. Upon completion of the Proposed Transaction, Javelle will continue on with the business of KMC and become a Tier 2 mining issuer, with KMC as its operating subsidiary (the Company after the Proposed Transaction being referred to herein as the "Resulting Issuer"). All Javelle Shares issued pursuant to the Proposed Transaction will be subject to voluntary hold periods on the basis that Javelle Shares issued in exchange for KMC Shares originally issued at a price of less than $0.35 will be subject to a four month hold period and Javelle Shares issued in exchange for KMC Shares originally issued at a price of $0.35 or greater will be subject to a two month hold period from the date of closing of the Proposed Transaction. Certain of the Javelle Shares are expected to also be subject to restrictions on resale or escrow under the policies of the Exchange, including the securities to be issued to "Principals" (as defined under Exchange policies), which will subject to the escrow requirements of the Exchange. In connection with the Proposed Transaction, Javelle will issue an aggregate of 500,000 post-consolidation Javelle Shares to certain arm's length third parties as finder's fees in accordance with Exchange policies. None of the securities to be issued pursuant to the Proposed Transaction have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and any securities issued pursuant to the Proposed Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. The completion of the Proposed Transaction remains subject to a number of terms and conditions, including, among other things: Sponsorship of a Qualifying Transaction of a Capital Pool Company is required by the Exchange unless exempt in accordance with Exchange policies. The parties will be seeking a waiver of any requirement for a sponsor, but in the event a waiver is not available, will seek a sponsorship relationship for this transaction with an Exchange member firm. The shares of the Company were halted effective November 21, 2016 and may remain halted until the completion of the Proposed Transaction. The Resulting Issuer - Summary of Proposed Directors and Officers It is currently anticipated that all of the current officers and directors of Javelle will resign from their respective positions with Javelle. The management of the Resulting Issuer is expected to include each of Alexander Becker (CEO), Bryan Slursarchuk (President), Brian Lueck (COO), and Kevin Ma (CFO) and the board of directors of the Resulting Issuer is expected to consist of Alexander Becker, Bryan Slusarchuk, Brian Lueck, R. Stuart Angus and Douglas J. Kirwin. The following are brief descriptions of the proposed directors, officers, and advisors of the Resulting Issuer: Dr. Becker has a long and distinguished career in mining including acquiring and targeting the gold potential of the Chaarat Deposit (gold resource 6.5 million oz). He was a director of Perseus Mining, Kentor Gold, Manas Petroleum (CEO & Director), Action Hydrocarbons, Caspian Oil And Gas and V.P. Geology of Apex Asia (a subsidiary of Apex Silver Mines). He started his career during Soviet times as the Chief Geologist of the Geological Mapping Division of North Kyrgyz Geological Expedition. Dr. Becker is one of the world's authorities on the geology of Central Asia and has authored numerous papers in international scientific journals including Geological Society of America; Tectonophysics, Structual Geology; and Geology and International Geology Review. Dr. Becker holds a M.Sc. in Geology and a Ph.D in Structural Geology. Mr. Slusarchuk has significant international experience structuring, funding and operating companies involved in mineral exploration, development and production. In addition to experience operationally and in the conducting of equity raises, Mr. Slusarchuk has structured complex debt financing transactions in the United States, Canada and Europe with multiple top tier banks. This includes negotiating and securing the first ever funding of a mineral exploration company by the European Bank for Reconstruction and Development (EBRD). Mr. Slusarchuk is a past TEDx speaker on the topic of capital markets, was a senior advisor at a top tier Canadian brokerage firm, and is a member of multiple mining industry advocacy associations in emerging markets, through which he has regularly advised various governments on the formation of mining policy. He has experience on the Board of and as an officer of multiple publicly traded and private companies in Canada, the United States and Europe. Mr. Lueck has over 25 years experience as an officer and director of Canadian and London public companies involved in mineral exploration, resource definition and feasibility studies. He is a practicing member of the Association of Professional Engineers and Geoscientists of British Columbia and a Member of the Society of Economic Geologists. Mr. Lueck is an advisor to the Board of K92 Mining Inc. Mr. Angus is an independent business advisor to the mining industry. For the past 30 years, Mr. Angus has focused on structuring and financing significant international exploration, development and mining ventures. Mr. Angus is the former chairman of the board of B.C. Sugar Refinery Ltd.; he was a director of First Quantum Minerals until June, 2005, a director of Canico Resources Corp. until its takeover by CVRD in 2005, and a director of Bema Gold until its takeover by Kinross Gold in 2007. More recently, he was managing director of mergers and acquisitions for Endeavour Financial, a director of Ventana Gold until its takeover by AUX Canada Acquisition in 2011, and a director of Plutonic Power until its merger with Magma Energy in 2011. He is presently chairman of Nevsun Resources Ltd., which operates one of the highest-grade open-pit copper mines in the world. Mr. Kirwin is an independent geologist with 45 years of international exploration experience, including five years in Papua New Guinea. He held senior positions with Anglo American and Amax during the 1970's and was Managing Director of a successful international geological consulting firm during the 1980's and early 1990's. In 1995 he accepted a role as vice president, exploration for Indochina Goldfields and subsequently became the executive vice president for Ivanhoe Mines Limited until 2012 after which Ivanhoe was acquired by Rio Tinto. Mr. Kirwin was also a director of South Gobi Energy, Jinshan Gold and a founding non-executive director of Ivanhoe Australia Ltd. As a member of the joint discovery team for the Hugo Dummett deposit at Oyu Tolgoi in Mongolia, he was a co-recipient of the PDAC inaugural Thayer Lindsley medal awarded for the most significant international mineral discovery in 2004. Other mineral discoveries made by Mr. Kirwin's exploration team include the Jelai-Mewet and Seryung epithermal deposits in north east Kalimantan, the Eunsan-Moisan gold mines in South Korea, the Moditaung gold deposits in Myanmar and the Merlin Re-Mo deposit in Australia. Mr. Kevin Ma is a senior financial professional specializing in corporate finance, public company reporting and regulatory compliance in Canada and United States, strategic planning, financial management, and capital markets for the past 10 years. Mr. Ma has worked with a broad spectrum of industries in natural resources, software, clean tech, security, and a variety of industrial projects for SME and multi-national companies, both private and public corporate structures. Mr. Ma was a core member of the senior management team at Alexco Resource Corp. that put the Bellekeno Mine into commercial operations in 2011 in the historic Keno Hill Silver District, Yukon Territory, Canada. Mr. Ma is a Chartered Accountant certified by the Institute of Chartered Professional Accountants of British Columbia, and holds a Diploma in Accounting and a Bachelor of Arts degree from the University of British Columbia. Mr. Eaton is a graduate from Hull University, England and is an experienced investment professional with over 20 years of experience in equity capital markets specializing in the resource sector. He has held the position of Managing Director of Global Mining Sales, a division of CIBC World Markets of Toronto, and Manager of US Equity Sales for CIBC World Markets. Mr. Eaton is also a former Partner and Director of Loewen Ondaatje McCutcheon Ltd., a Toronto-based investment dealer. Additional to his leadership in institutional mine finance and investment banking, Mr. Eaton has served in management and on the Boards of several public mining companies. Mr. Eaton is the current Executive Chairman and the former Chief Executive Officer (CEO) of Belo Sun Mining Corp. Additional information concerning the Proposed Transaction, Javelle, KMC and the Resulting Issuer will be provided in the Company's Filing Statement to be filed in connection with the Proposed Transaction and which will be available under the Company's SEDAR profile at www.sedar.com. The Company is a Capital Pool Company, currently listed on the NEX Board of the Exchange. Management of the Company is actively engaged in assessing possible projects with a view to completing a Qualifying Transaction. Any proposed Qualifying Transaction must be approved by the Exchange. As the Proposed Transaction is an arm's length Qualifying Transaction no shareholder approval is required. Until the completion of a Qualifying Transaction, Javelle will not carry on any business other than the identification and evaluation of businesses or assets with a view to completing a proposed Qualifying Transaction. The Company currently has 7,099,198 common shares issued and outstanding and no outstanding options or share purchase warrants. ON BEHALF OF THE BOARD Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The Exchange has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release. All information contained in this news release with respect to Javelle and KMC was supplied by the parties, respectively, for inclusion herein, and Javelle and its directors and officers have relied on KMC for any information concerning such party. This news release contains forward-looking statements relating to the timing and completion of the Proposed Transaction, the future operations of the Company, KMC, and the Resulting Issuer and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Proposed Transaction and the future plans and objectives of the Company, KMC, and the Resulting Issuer are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's, KMC's, and the Resulting Issuer's expectations include the failure to satisfy the conditions to completion of the Proposed Transaction set forth above and other risks detailed from time to time in the filings made by the Company, KMC, and the Resulting Issuer with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, KMC, and the Resulting Issuer. As a result, the Company, KMC, and the Resulting Issuer cannot guarantee that the Proposed Transaction will be completed on the terms and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company, KMC, and the Resulting Issuer will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.


Yu J.-S.,Zijin Mining Group Co.
Yejin Fenxi/Metallurgical Analysis | Year: 2015

The sample was burned in high-temperature furnace at 550℃ for 1-2 h for ashing. The residue was dissolved with hydrochloric acid and nitric acid. With 5.0% hydrochloric acid solution (V/V) as determination medium, a method for determination of copper and iron in gold-loaded carbon was established by flame atomic absorption spectrometry (FAAS) with 324.8 nm and 248.3 nm as determination wavelength, respectively. The results showed that other elements in gold-loaded carbon had no interference with the determination of test elements. There was also no mutual interference between test elements. Under the optimized instrumental conditions, the detection limit of copper and iron was 0.014 μg/mL and 0.010 μg/mL, respectively. The proposed method was applied to the determination of gold-loaded carbon samples. The relative standard deviations (RSD, n=11) were in range of 0.39%-2.8%, and the recoveries were between 96% and 102%. The contents of copper and iron in four certified reference materials of gold-loaded carbon, i. e., GSB 04-3093-2013-GSB 04-3096-2013, were determined according to the experimental method, and the results were basically consistent with the certified values. © 2015, Central Iron and Steel Research Institute. All right reserved.


Chen J.-H.,Guangxi University | Li Y.-Q.,Guangxi University | Long Q.-R.,Zijin Mining Group Ltd Company
Transactions of Nonferrous Metals Society of China (English Edition) | Year: 2010

Ten kinds of organic depressants were used to investigate the depressing performance on marmatite and pyrite. Flotation results show that the organic compounds only with single group of hydroxyl (-OH), carboxyl (-COOH) or amino (-NH2) in molecule are ineffective in depressing marmatite, jamesonite and pyrite. The combinations of these functional groups still cannot enhance the depressing ability of organic depressant. The thioglycollic acid containing reductive functional group (-SH) has a good depressing performance for marmatite and pyrite. The presence of benzene ring in molecule can enhance the depressing performance. The functional group electronegativity, hydrophilic-hydrophobic indexes and frontier orbital of organic depressants were calculated, and the criterion for the depressing effect of organic depressants to sulphide minerals was proposed. © 2010 The Nonferrous Metals Society of China.


Chen J.-H.,Zijin Mining Group Co. | Chen J.-H.,Guangxi University | Li Y.-Q.,Guangxi University | Zhong S.-P.,Zijin Mining Group Co. | Guo J.,Guangxi University
American Mineralogist | Year: 2013

Using density functional theory (DFT) calculations, the occurrences and correlation of gold (Au) and arsenic (As) in pyrite were studied, and the effect of As on the structural stability of Au in pyrite (FeS2) was investigated. The calculated results show that Fe is not likely to be simply substituted with Au under normal circumstances. The presence of As is very conducive to incorporating Au into the pyrite interstitial lattice site along with substitution for the S site. It is predicted that a positive correlation exists between Au and As in pyrite and that higher As concentration facilitates the incorporation of Au in pyrite. Additionally, with increasing As content, Au sits on the Fe site and the Fe is repelled into the hole. The pyrite lattice expands with the incorporation of Au and As. Antibonding interactions are found between the Au, Fe, and As atoms. The reducibility of pyrite is greatly enhanced due to the presence of Au and As. The electronic structure calculations show that substituting Au and As for S atoms does not change the pyrite p-type property and that defect energy levels are present in the conduction band. However, with increasing As concentration, incorporating the interstitial site of Au causes a change from the p-type pyrite to an n-type pyrite, and defect energy levels are mainly located in the energy band gap. The interstitial site of Au causes the pyrite to be spin-polarized at a certain As content. In addition, strong interactions are found between Fe 3d and Au 6p orbitals and between Au 5d and As 4p orbitals.

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