Property Located in Golden Triangle, Guangxi Autonomous Region, China
TORONTO, Sept. 8 /CNW/ - Gold World Resources Inc. (GDW-TSX-Venture) (the
"Company") is pleased to announce that it has signed a Letter Of Intent
("LOI") with the owner of the producing Liaotun Gold Mine located in the
"Golden Triangle" which covers the Provinces of Yunnan, Guizhou and Guangxi
Region. The Company is signing this LOI to provide it the opportunity to
perform a due diligence at the Liaotun gold mine with the objective to
establish the parameters for a commercial transaction.
More than one hundred gold deposits with over 600 tonnes (non NI 43-101
compliant) are reported by government and private sources in the Golden
Triangle region which includes the Gaolong gold deposit, the Jinya gold
deposit and the large Carlin-type Jinfeng gold deposit operated by Sino Gold.
The open pit Liaotun mine is operated by Bama Boda Mining Corporation
("Bama Boda") in Bama Yao Autonomous County, Guangxi Zhuang Autonomous Region
("Guangxi Region"), and has an infrastructure which can be readily expanded.
Bama Boda is the holder of one mining license, covering 2.5238 km(2) and one
exploration license covering 38.62km(2).
The property is situated in the northwestern part of the Guangxi Region
and is conveniently accessible via Nanning, the capital of the region. There
are 9 faults controlling the Liaotun ore bodies. According to owner sources
five ore bodies have been discovered so far and resources have been estimated
by Bama Boda at 1,281 kg gold at an average gold grade at 2.05 g/ tonne (non
NI 43-101 compliant). Grab samples collected during a recent mine visit by Li
Cunyou, the Company's Exploration Supervisor, indicated 1.75g to 37.70 g/tonne
gold. Gold occurs disseminated and micro-grained in oxidized sandstone.
The mining method is a low cost open pit heap leach operation. Mining and
loading of the leach pads has commenced, with a fleet of 10 trucks and 4
The owner of the mine is looking for a commercial transaction with an
experienced heap-leach operator. Management of Gold World Resources has
extensive experience in this type of operation.
The Company is exploring for precious metals in China. It has been
granted a Certificate of Approval for the Establishment of Enterprises with
Foreign Investment in the People's Republic of China and a Business License,
both with 30 year business terms. The Company has been offered operating gold
projects for acquisition or joint venture which are actively pursued. For more
information about the Company's activities we invite you to visit our website
ON BEHALF OF THE BOARD
Chairman & CEO
Gold World Resources Inc.
Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Securities Act
(Alberta), including statements concerning Gold World Resources' plans for the
Property, which involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of
Gold World Resources, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
information. Such information contained herein represents management's best
judgment as of the date hereof based on information currently available.
The TSX-Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Hermann Derbuch, P.Eng., Tel.: (416) 594-9888,
Fax: (416) 594-1967