Minco Silver Receives the Mining Area Permit for Fuwan
29 Aprile 2009 - 8:26PM
Marketwired
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:
MSV) is pleased to announce that it has received the Mining Area
Permit for the Fuwan Silver project located in Guangdong province,
China.
The application for the Mining Area Permit was approved by the
Ministry of Land and Resources ("MOLAR") in Beijing and will be
held for up to 3 years while preparations for the Mining License
Application are made. The Mining Area Permit covers approximately
0.79 square kilometres, defines the mining limits for the Fuwan
deposit, and restricts the use of this land to mining activities
only.
Minco Silver continues to make significant progress on
additional reports required for the Mining License Application. The
Company recently concluded the environmental baseline studies
enabling the completion of the Chinese Regulatory Environmental
Impact Assessment. This regulatory EIA was generated by Guangdong
Nuclear Design Institute ("GNDI") and will be submitted to the
Guangdong Provincial Environmental Protection Administration in the
near term. The report identifies the ecological and physical
environmental impacts of the proposed mining operation.
China Nerin Engineering Co., Ltd. ("NERIN") is progressing well
on the Mineral Resources Development and Utilization Plan. This
report outlines the mining and processing methods and is based on
the already approved Exploration Report and Chinese Preliminary
Feasibility Study. Once completed, the report will be submitted to
MOLAR in Beijing for review and approval.
Minco Silver has advanced the Bankable Feasibility Study ("BFS")
to the point where all planned surface infrastructure sites have
been finalized including milling facilities, access roads, waste
rock storage, and tailings impoundment. The Company has used this
data to prepare and submit the Land Usage Application which, when
approved, will re-zone the area from agricultural and forestry
lands to industrial usage and allow the Company to secure the
required surface rights to the proposed mine site.
The Company is also well advanced on the Geological Hazard
Assessment which identifies potential geographic and physical
hazards that may pose safety issues to operations including local
and regional seismic activity and any significant geo-technical
aspects of the proposed mining operation.
Minco Silver's Chairman and CEO, Dr. Ken Cai, commented: "The
Mining Area Permit approval is a very important milestone for the
Company and I would like to thank the Ministry on behalf of Minco
Silver and its Stakeholders. This permit secures the land
comprising the Fuwan Silver Deposit for mining purposes only and is
an integral component in obtaining a Mining License. Excellent
progress continues to be made regarding ongoing studies as we push
to complete our Mining License Application in the shortest time
possible."
About Minco Silver
Minco Silver Corporation (TSX: MSV) is a TSX listed company
focusing on the acquisition and development of silver dominant
projects. The Company owns 90% interest in the world class Fuwan
Silver Deposit, situated along the northeast margin of the highly
prospective Fuwan Silver Belt.
ON BEHALF OF THE BOARD
Dr. Ken Z. Cai, Chairman & CEO
Certain terms or statements made that are not historical facts,
such as anticipated advancement of mineral properties or programs,
productions, sales of assets, exploration plans or results, costs,
prices, performance are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
and involve a number of risks and uncertainties that could cause
actual results to differ materially from those projected,
anticipated, expected or implied. These risks and uncertainties
include, but are not limited to; metals price volatility,
volatility of metals production, project development risks and
ability to raise financing. The Company undertakes no obligation
and has no intention of updating forward-looking statements.
The Toronto Stock Exchange does not accept responsibility for
the accuracy of this news release.
Contacts: Minco Silver Corporation Ute Koessler 1-888-288-8288
or (604) 688-8002 ir@mincosilver.ca www.mincosilver.ca
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