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Vancouver, BC - TheNewswire - June 13, 2023 - Muzhu Mining Ltd. (CSE:MUZU) (“Muzhu” or the “Company”) is pleased to announce that V.P. of China Operations Mr. Anthony Tam, BSc. Eng., has arrived on the Xiao Wa Gou (XWG) and the LMM properties in the Henan Province of China, and plans to start a Summer Exploration Program. Muzhu has an option to earn up to an 80% interest in both properties, which is encircled by several operating Silver, Zinc, Lead producing mines. The XWG and LMM Silver, Zinc mineral claims properties are located in Xiayu Township, within the Luoning County and are in China’s “Silver Triangle” with good infrastructure, water, power and road access, including several floatation mills close by to provide future customized processing along with the Jinqiao Mill just 9km away. “Samples were 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 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 regarding XWG property, February 1st, 2022.) The Property is situated in the 300 km-long west-northwesterly trending Qinling orogenic belt, a major structural belt formed by the collision of two large continental tectonic plates in Paleozoic time. The dominant structures in the Qinling orogenic belt are west-northwest trending folds and faults generated during the collision of the two major tectonic plates in Paleozoic time. The faults consist of numerous thrusts having a component of oblique movement with sets of conjugate shear structures trending either northwest or northeast. These conjugate shear zones, which display features of brittle fracturing such as fault gouge, brecciation and well-defined slickensides, are associated with all the important mineralization recognized along the 300 km-long orogenic belt, encompassing China’s “Silver Triangle”. (November 8th, 2022 Muzhu Mining Press Release.)
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Muzhu Mining is also pleased to report that its subsidiary, Luoyang Sow International Mining Company Ltd., has received $550,000 from Muzhu Mining Company Ltd. And can now begin to plan its Summer Exploration Program. The subsidiary can now operate within the Henan Province of China and establish
a new joint venture company with Luoning County Muzhu Mountain Lead and Silver Mine Company Ltd., with regard to the LMM option agreement. The new joint venture company will be owned 80% by Muzhu Mining’s subsidiary, Luoyang Sow International Mining Company Ltd.
Muzhu’s V.P. of China’s Operations, Anthony Tam comments, “I am excited to return to China with our Chinese Subsidiary being capitalized and, therefore, have the funding required to plan and execute our summer exploration program, when authorized. Other private and one large public company are doing very well within the immediate vicinity and the infrastructure and workforce is present to be successful.”
ON BEHALF OF THE BOARD OF DIRECTORS James Tong, Interim CEO Muzhu Mining Ltd. Phone: 1-226-455-5644 Email: [email protected] Website: muzhumining.ca
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 two option agreements to acquire up to 80% of the Silver, Zinc, Lead XWG and LMM Properties in 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.
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