Tests suggest that new Sarawak gold mine may be one of the richest
A Canadian based gold mining company has carried out the tests and estimates that the area contains 50 million tonnes of gold. The company, Olympus Pacific Materials Inc, are also carrying out feasibility studies of the area which are due to be completed in 2013.
The Central Bau region is a long established mining area having been mined intermittently since the middle of the 19th century. It is estimated that since this time in excess of 71 million tonnes have been mined from this region alone. This precious metal rich area lies within the Borneo belt where several other productive gold mines are situated including Kelian, Mamut and Mt Muro.
The Chief Executive Officer from Olympus, John Seton, issued a statement from Toronto confirming that tests have shown the new deposits of gold to be of industry standard and that this finding will allow the development of the gold mine in the Jugan Hills to go ahead as planned. Early reports indicate that it is likely to develop into one of the most important gold mines in Southeast Asia.
John Seton went on to say in his statement that “these test results will be a tremendous boon to the Bau project as some people felt the refractory ore complex would hinder development at Jugan Hill”.
With mines in Sarawak and Vietnam and an exploration project in the Philippines Olympus Pacific Materials Inc is a diverse gold production and exploration company.
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