Bluebird Merchant Ventures (BMV) , a resource development company focused in Asia, has applied for a government grant for an assisted drilling programme through its project joint venture company, Kochang Project Company (KPC).
The application was submitted at the end of January 2019 at the invitation of the Korean Resources Corporation (KORES), a wholly owned company of the South Korean government. If successful, the company should be granted approval by the end of this month.
The drilling programme would aim to identify the position “of the three veins in a major unmined corridor of the deposit.” This proposed resource definition diamond drilling programme at Kochang hones in on the areas adjacent to the initial planned production zones.
BMV hopes to utilise this information to better understand the modelled vein structures and grades it has been deriving from the surface. Ultimately, the company aims to build a resource model for future planning, development, and mining.
Additionally, BMV announced that its application for a ‘permit to develop’ its leading asset, the Gubong mine in South Korea, should be processed this month. Gubong is believed to be the second largest gold mine in South Korea.
CEO Colin Patterson commented: “We are now entering the exciting stage of our Company's short journey to commercial production. It is encouraging that the South Korean government are seemingly keen to help us move forward through their invitation for us to apply for a grant.
We are very fortunate to be operating in a jurisdiction where the government is proactive in stimulating its mining industry."
For more news and updates on Bluebird Merchant Ventures: