New update on the Varun site as per below. It is noted that they are quoting a expected Gold resource in the region of 53,000 kgs.
Varun SARL has discovered large reserves of gold in its mining concessions in Madagascar. According to the preliminary tests, one ton of ore from the mine has 9 to 16.5 grams of gold with an average of 12g/t of gold against the conventional 6-7 grams of gold found in same quantity of ore in other mines. The company is quickly scaling up the mining process and metallurgical tests indicate that 92% of the gold can be extracted by the gravitational process, which is both the simplest and quickest method to extract gold. The mines also have reserves of Platinum, Lithium Mica, and Gem stones.
Company has joint venture with Torian Resources (formerly known as Cluff Resources) for exploration and mining of Gold, Platinum and Precious Stones
Total Exploration Blocks 15 carries (1 Carries = 650 x 650 M) covering an area of about 6.35 Sq. Kms.
TNR Price at posting:
4.0¢ Sentiment: LT Buy Disclosure: Held
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