New gold, iron ore deposits found in east China
27/10/2008 16:11
Chinese land and resources authorities in the eastern Shandong Province
today announced the discovery of two new gold and iron ore
deposits.
Geologists with Shandong Provincial Bureau of Geology and Mineral
Resources found a gold ore deposit with a proven reserve of 103 tonnes at the
southern section of the Jiaojia gold belt in Laizhou City, said the
announcement.
The deposits were estimated to have an economic value of more
than 20 billion yuan (US$2.92 billion).
The Jiaojia belt, at the northern
edge of the Shandong Peninsula, has become a focus for exploration since China
first found gold ore deposits there in the 1970s.
Geologists also found
another gold ore deposit with a potential of 51.83 tonnes near Sizhuang of
Laizhou. More than 100 tons of gold ores have been produced from this
metallogenic belt so far.
The bureau also announced a proven deposit of more
than 1 billion tonnes of iron ore in Yanzhou, a small city in Jining, in
southern Shandong, said the announcement.
The deposit, which is 80.46 meters
to 190 meters thick with a concentration ratio of 25.97 percent to 31.72
percent, is buried about 1,020 to 2,200 meters below ground, said an official
from the bureau.
Before this, the proven iron ore resources in Shandong stood
at 2.6 billion tons.
The newly discovered deposit, though with its grade
remains moderate, will provide Shandong with an important resource guarantee for
the iron and steel making industry, said the official.
Xinhua
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