China Hanking Finds More Gold, Minerals at Australian Sites

MT Newswires Live08-26

China Hanking Holdings (HKG:3788) found more gold resources in its Cygnet Gold Project in Western Australia following its stage 1 exploration program at the site, increasing the amount to 1,38 million ounces with an average grade of 3.9 grams per ton, a Monday filing with the Hong Kong Exchange said.

The company has found intense quartz-sulfide veins surrounded with biotite-chlorite silicification alteration during its exploration of Copperhead and Golden Pig sites, whereas visible gold has been sited at the Golden Pig site.

The company's Australian subsidiary Hanking Australia Investment controls Cygnet Gold, which owns the Cygnet Gold Project.

The company's shares were up over 1% in recent trade.

Price (HKD): $0.85, Change: $+0.010, Percent Change: +1.19%

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