Posted in | News | Gold | Mining Business

Goldrea to Sell Interest in Rushan/Goldrea Gold Property in Shandong Province, China

Goldrea Resources Corp. announces that the Company is in early negotiation to sell its 90% interest in the Rushan/Goldrea gold property in Shandong Province, China.

To date, Goldrea has invested $9.5 million into the project and now plans to re-direct the Company's efforts on its North American projects. The Company invites interested parties to contact our office for more information. The Rushan/Goldrea property hosts a NI 43-101, 174,000 oz, indicated, gold resource and is located down dip from the Daye open pit mine and mill. Goldrea built the Golden Rose Shaft, a 3.5 meter (11.5 ft) diameter, 235 meters (771 ft) deep concrete lined shaft on the property. In addition, 8,700 meters (28,536 ft) of lateral development has been completed on five levels with four stopes and a 57,122 meter (187,360 ft) diamond drilling program has been completed and logged. The 6.51 sq. km. property under Rushan/Goldrea is located in the Shandong Province, well known as the most prolific gold producing province in China.

Goldrea also announces the TSX Venture Exchange has approved a two year extension for the 7,918,000 outstanding share purchase warrants (the "November 10 Warrants") issued pursuant to the Company's private placement at a price of $0.06 per unit completed on November 5, 2010. Each November 10 Warrant is exercisable for one common share at a price of $0.10. The November 10 Warrants were due to expire on November 5, 2012. The new expiry date for the November 10 Warrants is November 5, 2014.

The Company's private placement, as released September 16, 2012, priced $0.03 per unit, is expected to close November 16, 2012. Each Unit is comprised of one common share in the capital of the Company and one full share purchase warrant exercisable at a price of $0.05 in the first year and $0.10 in the second year from the date of issuance. Contact the Company number listed below or 1-604-531-9639 for interest in availability.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Goldrea Resources Corp.. (2019, February 18). Goldrea to Sell Interest in Rushan/Goldrea Gold Property in Shandong Province, China. AZoMining. Retrieved on July 13, 2024 from https://www.azomining.com/News.aspx?newsID=7387.

  • MLA

    Goldrea Resources Corp.. "Goldrea to Sell Interest in Rushan/Goldrea Gold Property in Shandong Province, China". AZoMining. 13 July 2024. <https://www.azomining.com/News.aspx?newsID=7387>.

  • Chicago

    Goldrea Resources Corp.. "Goldrea to Sell Interest in Rushan/Goldrea Gold Property in Shandong Province, China". AZoMining. https://www.azomining.com/News.aspx?newsID=7387. (accessed July 13, 2024).

  • Harvard

    Goldrea Resources Corp.. 2019. Goldrea to Sell Interest in Rushan/Goldrea Gold Property in Shandong Province, China. AZoMining, viewed 13 July 2024, https://www.azomining.com/News.aspx?newsID=7387.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.