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BESRA GOLD INC

ASX: BEZ

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Besra Gold Inc formerly Olympus Pacific Minerals Inc. is a Canadian gold producer with three projects diversified over two countries, Vietnam and Malaysia. In Vietnam the Company is operating two mines; Bong Mieu and Phuoc Son located in central Vietnam approximately 100 km from the port city of Da Nang. The Bong Mieu Gold Plant is presently sourcing ore from its two mines, Bong Mieu and Phuoc Son. The Company's 2010 production is targeted at 35,000 as of December 31. The construction of the Phuoc Son gold plant has started with commissioning planned in the first quarter 2011 when annual production is expected to increase to 60,000 oz pa.

An Exploration and resource drill program has started in Bau, E. Malaysia with some 20,000 meters planned for the next 12 months. The Company expects to expand Reserve & Resource Estimates upon completion of this yearís drill program. We also have approximately 10 selected conductivity anomalies identified at depths of 300 to 700 meters below the current resource.

Bong Mieu, Vietnam

Within the 3,000 hectare Investment License area, there is a series of ore deposits and targets on the north and south limbs of an anticline plunging gently to the east.

Located on the Phuoc Son Suture, which hosts the world famous Sepon gold-copper deposit in Laos, 100 km to the northwest of Bong Mieu. Exploration has demonstrated the potential for a large-scale project with multiple ore sources. Bong Mieu starter plant commissioned April 6, 2006, and is producing gold. Bong Mieu Underground currently being redeveloped with trial stoping proceeding.

Production Plant

* Commissioned in 2006 to treat the low grade Ho Gan orebody
* Nominal throughput 500 tonnes per day
* Utilizes gravity separation and floatation and incorporates an intensive (cyanide) Leach Reactor
* Subsequently modified to treat higher grade ores from Nui Kem and toll treatment of the Dak Sa (Phuoc Son) ores
* Currently producing 2,500 ounces per month

Bong Mieu (Nui Kem) Underground Mine

* Being developed at the eastern end of the Nui Kem Mining License area.
* The structure has been mined intermittently over the past 120 years
* The structure contains an Historical Resource of 363,000 ounces
* Shallow dipping vein system averaging 1.2m wide at a grade of 7.9 g/t Au
* Trial stoping under way

East Deposit (Ho Ray Thac Trang) Highlights

* An open-pitable orebody with multiple shallow-dipping narrow veins
* Published Resource: 454,000 ounces gold equivalent
* Contains recoverable Tungsten
* In-house assessment recommends completion of Feasibility Study
* Deposit open to the east, west and down-dip

Phuoc Son, Vietnam

Phuoc Son is an area of extensive and locally intensive artisan gold mining activity.The 7,000 hectare exploration license has multiple geological targets that have been described. The main area of activity now is the southern (Dak Sa) deposit, where an underground mine has been developed on extensive open-ended resources which are being progressively upgraded to NI 43-101 status. Exploration to develop the long-term potential of other targets within the license currently remains at an early stage.

Located on the Phuoc Son Suture, which hosts the world famous Sepon gold-copper deposit in Laos, 100 km to the northwest of Phuoc Son. Exploration has demonstrated the potential for a large-scale project with multiple ore sources. Mining License granted in January 2006 and renewed August 2009. Dak Sa Underground mine currently being redeveloped with trial stoping proceeding.

Production Plant

* Ore from current stoping trials is treated at the Bong Mieu Plant
* A 500 tpd treatment plant currently being designed to be sited at Dak Sa

Phuoc Son (Dak Sa) Underground Mine

* Being developed at the southern end of the License area.
* The structure contains an open ended Resource of 647,000 ounces
* Shallow dipping vein system averaging 1.2m wide at a grade of 7.8 g/t Au
* Trial stoping under way, producing grades in excess of 15 g/t Au

Tien Thuan, Vietnam (75%)

Tien Thuan is located 80 km from the port city of Quy Nhon, in Binh Dinh Province, Central Vietnam. Moderately advanced The Tien Thuan project area was extensively mapped and sampled by the Geological Survey of Vietnam during the 1980s. Olympus is currently re-validating and extending that work through detailed geological, geochemical and geophysical surveys, preparatory to a diamond drilling programme scheduled during 2009.

Key Results

Examples of significant mineralization zones that have been delineated to date include:

Nui Bac Ma Sector Quartz Veins: Geological mapping has revealed a swarm of sub-parallel, steeply-dipping gold-mineralised quartz veins, hosted within a quartz monzonite intrusive stock. Soil geochemistry has revealed that these extend over an area of 1,600 x 2,200 metres. Six of these veins have been extensively sampled from shafts and adits by the Geological Survey of Vietnam. Olympusís check sampling has independently confirmed the DGMV results (with rock chip assays ranging up to 46.00 g/t Au).

Vinh Hoa Sector: Soil geochemistry has revealed a gold-mineralized vein and several sub-parallel lodes (generally ~1m wide), outcropping over a strike length of about 1 km. Field mapping revealed classic crustiform and banded fine-grained and vughy quartz textures, indicative of a high-level, low-temperature environment.

Thang Long Sector: A gold-molybdenum-in-soil anomaly (20-74 ppm Mo) extends over 1,180 x 300 metres (open-ended to the NW) is associated with an outcropping rhyolite-micro diorite intrusive complex and contains a smaller (currently open-ended) gold anomalous zone (in which soil values range up to 1.1 g/t Au).

A structural corridor: Massive quartz veins (up to 20m width) and local stock-work and breccia zones extend 15 km along strike.

Bau Project, Malaysia (50.5%)

Bau Project is located 40 km from the capital city of Kuching, in Sarawak, East Malaysia. Since commencement of the JV in November 2006, exploration has primarily focused upon the central goldfield area, where multi-million ounce Au-Cu-Mo prospective mineralization environments are at various stages of exploration. A JORC status gold resource of 1.612 M oz has to date been defined in four deposits, whilst a further 3.3 to 4.5 M.oz gold has been identified in deposit extensions and closely adjacent zones. Other (as yet unexplored) potential remains within peripheral zones.

Key Results

Current JORC status resources: 1.612M oz gold plus identified geological targets possibly containing a further 4.4 to 4.75M oz of gold. Examples of significant deposits that have to date been partially explored include:

Jugan Sector: Carbonate replacement style mineralization (670,000 oz gold) [9.22Mt @1.66 g/t Au (indicated), plus 2.514Mt @ 2.20 g/t Au (inferred)].

Pejiru Sector: Carbonate replacement style mineralization (497,000 oz gold) [8.576Mt @ 2.24 g/t Au (inferred)].

Sirenggok Sector: Porphyry gold style mineralization (310,000 oz gold). [7.185 Mt @ 1.23 g/t Au (Inferred)].

Bekajang Sector: Historic mine tailings: (135,000 oz gold). [1.291 Mt @ 1.332 g/t Au (indicated), plus 1.878 Mt @ 1.332 g/t Au (inferred)].

Tabai Sector: Extensive quartz-breccia style mineralization. Fault hosted mineralization up to 20m thick, extending along 1,200m of strike. Selected drill intercepts include: DH104-87 (11.10m @ 5.9 g/t Au); DH104-9 (38.70m @ 25.85 g/t Au); DH104-111 (9.70m @ 12.97 g/t Au); DH104-112 (9.20m @ 43.76 g/t Au); DH104-116 (19.50m @ 5.49 g/t Au); DH104-151 (35.50m @ 4.93 g/t Au).

Juala Sector: Porphyry Cu-Mo style mineralization. This is a virgin discovery. Best intercept to date is 5.0m @ 1.58 g/t Au, 4.44 g/t Ag and 0.77% Cu (in hole JWDDH10), yet to be followed up.

Ongoing validation of historic drilling and in-fill drilling during 2009 is expected to progressively convert much of the identified geological resource targets (4.4 to 4.75M oz of gold) into JORC status resource. During 2009, the company aims also to examine the feasibility of generating early cash flow from zones that are considered amenable to rapid low-capex development. Beyond the Bau Gold Project, the Joint Venture also holds a number of regional exploration tenements, covering 1,236.38 km2 of highly prospective, but relatively unexplored terrain in Sarawak.

Mine For

gold, silver, copper, molybdenum

Location of operation(s)

Vietnam, Malaysia

Address

Se 500, 10 King St East
Toronto, Ontario, Canada

Phone

(1 416) 572 2525

Email

Website


Last Updated

3/3/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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