China finds large gold deposits in major discovery

BEIJING: China has announced a major mineral discovery of gold in northeast China’s Liaoning province, according to the country’s the Ministry of Natural Resources.

China has discovered the thousand-ton-level, low-grade super-large gold deposit from the Dadonggou Gold Mine in the Liaodong region, with a total proven gold metal content of 1,444.49 tons, making it the largest single gold deposit discovered since 1949, China media group (CMG) reported.

The ministry said that the entire Dadonggou Gold Mine area above the -720-meter elevation has proven reserves of 2.586 billion tons of gold ore, with 1,444.49 tons gold content and an average grade of 0.56 grams per ton.

According to report the gold deposits have currently passed the economic feasibility assessment for development and utilization, with promising expected benefits.

The gold discovery has been valued 166 billion euro according to current international market prices.