China Shen Zhou (SHZ) Reports Encouraging Data for Xinyi Fluorite Deposits Following Inspection
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China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ), announced that SRK Consulting China Ltd. ("SRK") has completed its sampling verification for Xinyi Fluorite Company Ltd. ("Xinyi"), a subsidiary of the Company based in Jingde County, Anhui Province.
SRK completed additional drilling and collected more technical datasets on Xinyi's fluorite reserves in May 2012. Subsequently, SRK commissioned Hefei Mineral Resources Supervision and Inspection Center, an affiliate of the Ministry of Land and Resources of the People's Republic of China, to inspect the fluorite samples.
Based on results from the inspection report, management believes that the length and width of Xinyi's fluorite ore deposits are larger, and the ore grade is better than previously expected. Among the inspected fluorite samples, the highest CaF2 content reached 98.37%.
SRK will build a quantitative model reflecting the data generated from the inspection report to assess the fluorite ore resources of Xinyi. It is expected that SRK will provide a complete and JORC-compliant technical report on Xinyi's reserves by the end of 2012.
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SRK completed additional drilling and collected more technical datasets on Xinyi's fluorite reserves in May 2012. Subsequently, SRK commissioned Hefei Mineral Resources Supervision and Inspection Center, an affiliate of the Ministry of Land and Resources of the People's Republic of China, to inspect the fluorite samples.
Based on results from the inspection report, management believes that the length and width of Xinyi's fluorite ore deposits are larger, and the ore grade is better than previously expected. Among the inspected fluorite samples, the highest CaF2 content reached 98.37%.
SRK will build a quantitative model reflecting the data generated from the inspection report to assess the fluorite ore resources of Xinyi. It is expected that SRK will provide a complete and JORC-compliant technical report on Xinyi's reserves by the end of 2012.
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