Bluebird pleased with Korean government sampling at Kochang

Asia-focussed resource development group Bluebird Merchant Ventures announced its comparison of the results of the underground sampling programme from the Kochang Mine, carried out in 2018 by the Korean Resources Corporation (KORES) - a South Korean government owned company.

The London-listed firm said KORES reported a total indicated and inferred resource of 113,280 ounces of gold, compared to the company's own resource potential of 116,880 ounces.

KORES derived a gold grade of 6.55 grams per tonne, which compared to Bluebird's reported gold grade of 5.94 grams per tonne, while KORES derived a silver grade of 35.97 grams per tonne, compared to Bluebird's reported silver grade of 31.54 grams per tonne.

The firm said the sampling programme covered a “small area” of the Kochang mine.

It had announced on 6 February that it had received a copy of the technical survey report KORES carried out at the Kochang mine and adjacent area in 2018.

Bluebird said it was currently examining the report, but was pleased to see “strong correlation” in the results of the underground sampling programme carried out by KORES, with that conducted by the company in the same area in the first half of 2018.

KORES took 195 samples which were sent to SGS Canada for assay.

“It is always pleasing to see corroboration of one's technical work,” said Bluebird chief executive officer Colin Patterson.

“These results reinforce our opinion that Kochang has a good deal of life left in it.”