Chinese Gold Deposit

[mn90403]

Remember all of the 'news' about the largest gold deposit in the world?  I think there is at least one thread here about it but I can't find it.  I'd add this information to it.

As it turns out, this is very, very deep!  Sounds like they used one of those long-range detectors.  Here are the details:

https://madrid-barcelona.com/en/hype/that-largest-gold-deposit-in-the-world-and-united-states-doesnt-believe-where 

[mn90403]

Here is some additional information on the 'gold find' which is at great depth.

If confirmed, the Wangu lode will rewrite mining textbooks and could reset gold’s global supply map. For China, the prize is greater self‑reliance; for markets, a fresh wave of uncertainty—and opportunity. Watch for third‑party assays, environmental clearances, and, eventually, the engineering feats required to haul treasure from nearly two miles underground.

https://infoemplea2.com/united-states/this-huge-gold-discovery-in-a-chinese-mine-could-be-the-largest-precious-metal-find-in-history/

Let that sink in.  They are considering it a gold reserve at 2 miles deep!

What is the deepest gold mine now?

[Norvic]

https://www.bing.com/search?q=deepest+working+gold+mine&form=ANNTH1&refig=68871456313342d38640ed25ac70c129&pc=DCTS

Thought we`d have one here in OZ but not so although Newmont is currently expanding the Tanami mine to 1.5ks

[Norvic]

https://genesisminerals.com.au/our-assets/leonora-operations/gwalia-operations/

Whoops Seems as we`ve discovered before there is some questionable claims out there when it comes to gold mines, what`s that old saying "Only time a prospector/fisherman/journalist tells the truth is when they call another prospector/fisherman/journalist a liar" 😉LOL

[GotAU?]

19 minutes ago, Norvic said:

https://genesisminerals.com.au/our-assets/leonora-operations/gwalia-operations/

Whoops Seems as we`ve discovered before there is some questionable claims out there when it comes to gold mines, what`s that old saying "Only time a prospector/fisherman/journalist tells the truth is when they call another prospector/fisherman/journalist a liar" 😉LOL

6,000,000 ounces of gold from that mine? That’s just shy of a cubic meter!

[geof_junk]

I went to work in Panguna Bougainville PNG at the start of it's open cut mine production early 1973 

In it 17 years of operation, the mine produced 3 million tonnes of copper, 306 tonnes of gold and 784 tonnes of silver. Its earnings amounted to K5.2 billion, representing approximately 44 per cent of PNG’s exports and helping to fund the newly independent country. Now, with Bougainville targeting independence in 2027 (pending ratification by the Papua New Guinean Parliament), Panguna is being viewed once again as crucial to nation-building. 610plus tons of gold still available now.

[Wild Bill]

6 hours ago, mn90403 said:

Here is some additional information on the 'gold find' which is at great depth.

If confirmed, the Wangu lode will rewrite mining textbooks and could reset gold’s global supply map. For China, the prize is greater self‑reliance; for markets, a fresh wave of uncertainty—and opportunity. Watch for third‑party assays, environmental clearances, and, eventually, the engineering feats required to haul treasure from nearly two miles underground.

https://infoemplea2.com/united-states/this-huge-gold-discovery-in-a-chinese-mine-could-be-the-largest-precious-metal-find-in-history/

Let that sink in.  They are considering it a gold reserve at 2 miles deep!

What is the deepest gold mine now?

It would seem that the Chinese project is an Inferred or possibly Indicated Resource at the moment.  
 

https://www.geologyforinvestors.com/classification-of-mineral-resources-and-reserves/ 

[Wild Bill]

Anyone remember the Bre-X scandal?  They made a movie out of it.

https://calgaryherald.com/news/local-news/bre-x-the-real-story-and-scandal-that-inspired-the-movie-gold
 

This is how the 43-101 standards started  to protect investors.  You can actually make a ton of profit by getting in early on good Junior Miners that have good targets. 

Anyway a corrupt geologist salted samples with ground up gold jewelry.  The company stock went as high as $4 billion before the fraud was revealed.  I recall watching the movie years ago.  It think it’s on YouTube.  

[Wild Bill]

This is very interesting.