China’s largest ever gold mine found in Shandong


BEIJING (China) March 30 (APP): World-class gold mine with 382.58 tons of reserves has been found in Xiling, east China’s Shandong earlier this year, with a potential value of more than $22 billion (RMB150billion), announced Shandong Gold Group Co., Ltd. here.
The gold mine, believed to be China’s largest gold deposit in history,
is located in the Laizhou-Zhaoyuan region of northwest Jiaodong Peninsula, east China’s Shandong.
The special geological characteristic of this region helped to form the
country’s major gold deposits cluster, which has the largest gold reserves and production in China.
According to reports, Xiling gold deposit is more than 2,000 meters long and part of it has a thickness of 67 meters.
Currently, 382.58 tons of gold reserves have been prospected with an
average gold grade of 4.52 g/t. And 550 tons of gold resources with more than $22 billion (RMB150billion) potential economic value can be expected in two years.
If producing on a scale of 10,000 tons every day, the gold deposit can
produce gold continuously at full capacity for 40 years.