Xin Qiao Mine Project
Covering a total area of 19.36 square kilometres, the XinQiao mine is located approximately 40 kilometres west of Nanshao County, in Qiaoduan Town, Henan Province, China. The XinQiao Gold Mine is situated in Henan province, China’s second largest gold producing province. The mine is located within the midsection of the Gold Belt of China between two large producing gold mines, Lingpo and Tungpak. Lingpo, one of the largest gold mines in China, produces approximately 384,000 ounces per year. Tungpak, the smaller of the two, has an annual production of approximately 64,000 ounces per year.
Geology Geology & Mineralization
The Gold Belt of China, as it is commonly known, begins in southeast China in the Xin Yang Mountain Range (Hong An County) and can be traced through San Men Xia, Lan Zhou and Xi Ning Counties, eventually ending in the Aertai Mountains, Xin Jiang Province in northwest China. The XinQiao Gold mine is located near Funiu Mountain, which is situated at the northeastern neck of the Gold Belt. Found at the east end of the Qin Ling Mountain fold range at the intersection of the North China continental plate and the southeast China continental plate, the Funiu Mountain is characterized by a complex geological structure. The major geological feature found at the mine area is a large fracture, which consists of three sets of crack belts. Movement of auriferous molten metallic lava through this fracture resulted in the formation of several gold ore veins.
At present, 114 quartz veins have been discovered within the mining area of 19.369 square kilometers. There are 36 gold-bearing veings and ore-bearing tectonic belts, in which surface exploratory work and moderate-deep level exploration have been or are being underway.
Picture: Mine Entrance 1
Exploration
Approximately 61.6 million Yuan ($7.7 million US1) has been spent on exploration of the XinQiao Mine since 1992. Surveys have been performed by a number of government and independent agencies including:
- Henan Province Geological teams - Nanshao County Gold Bureau - Henan Nanshao XinQiao Gold Mine Ltd (setup by the regional government) - Chinese National Geology Prospecting Engineer Bureau
Surveys have included systematic geological research on veins located within the 19.36 square kilometre mine area. This work has included trench drilling to 11,000 cubic metres and tunnelling to a depth of 9,100 metres. Through this exploration work, the formation, character and spatial distribution of the gold ore veins at the XinQiao Gold Mine has been identified. Based on geological surveys, Asian Star Development estimates a reserve of 740,000 ounces of gold for the XinQiao Mine. Asian Star believes that the XinQiao Gold Mine has the potential to host 1.2 million ounces of gold.
1 Conversion: US$1 = 8 Yuan
Picture: Over 500 meters of tunneling completed to date
The above statements in regard to Asian Star Development Inc., Atlantic Mining Limited and Henan Nanshao Gold Development Limited which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Asian Star Development, Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could case actual results to differ materially include risks and uncertainties such as technological, legislative, corporate and marketplace changes
