Vancouver, BC – The Newswire – April 21, 2023 – Muzhu Mining Ltd. (CSE:MUZU) is pleased to give an update on the strategic partnership announced on January 24, 2023 with Luoning County Muzhu Mountain Lead and Silver Mine Company Ltd., within the Luoning County, Henan Province of China who’s LMM property is contiguous to the North of Muzhu Mining’s option agreement with the XWG Silver property.
As of January 9, 2023, the Chinese Government lifted majority of the covid-19 restrictions on foreign travel to China after almost 3 Years. Muzhu Mining Ltd., has recently made progress during this time creating a subsidiary mining company, 100% wholly owned by Muzhu Mining Ltd. and also had limited progress on its XWG optioned property during this time.
The XWG and the LMM properties are located in China’s “Silver Triangle.” The properties already have access to established infrastructure, more specifically with water, power, and road access and the Jinqiao floatation mill is just 10km’s away from the XWG and LLM properties.
Mr. Anthony Tam, a mining engineer with extensive experience in mineral exploration and mining projects, reported the XWG and LMM properties and its surrounding infrastructure were all in good condition from his visit to China this Year. Muzhu Mining Ltd. is now prepared to proceed with planning this year’s exploration and bulk sampling programs.
A bulk sampling permit has been applied for on the LMM, as part of the 2023 exploration plans and recently obtained field results from the property owner of the LLM in January of 2023 returned assay results of up to 417 g/t Ag and 7.52 % Cu., non-43-101 compliant.
The XWG property, contiguous to the South of the LMM property, had samples taken during a 2018 exploration program that exhibit highly anomalous grades of Silver, Lead, Zinc and Copper. “Some samples returned values as high as; 1,500 g/t Ag, 3.88 % Pb, 6680 ppm Zn and 7% Copper. More than seven (7) individual mineralized veins have been identified by previous historical work carried out on the Property by Team 6 of the Henan Nonferrous Geological Prospecting Department. Lengths of the known veins vary from 270 to 1,080 metres with widths varying from 1.0 to 5.0 metres.” Muzhu Mining press release, February 1st, 2022.
“An approved bulk sampling permit for LMM or XWG would change the entire profile of the Company and show proof of concept, which other mining properties in the area are making significant revenue. Strong Assay results from my last visit, which are non 43-101-compliant, lead me to believe we are on the right track for success. I am excited for the next stage of our business in our attempt to create real shareholder value.,” stated Anthony Tam, VP of China Operations.”
ON BEHALF OF THE BOARD OF DIRECTORS;
James Tong,
Interim CEO
Muzhu Mining Ltd.
Phone: +1-(226)-455-5644
Web: www.muzhumining.ca
Email: [email protected]
Muzhu Mining Ltd. is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt, approximately 75km South of Matagami, Quebec. As well, Muzhu has executed an option agreement to acquire up to 80% of the Silver, Zinc, Lead XWG Property, within the Luoning County, of the Henan Province located in China.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
