Muzhu Mining creates Chinese subsidiary

Nov 2, 2022

2022-11-02 13:24 ET – News Release

Mr. James Tong reports

MUZHU MINING CREATES CHINA SUBSIDIARY

Muzhu Mining Ltd. has created a 100-per-cent owned subsidiary company, named Luoyang Sow International Mining Company Ltd., as part of its operations in China.

At present, the sole director and chief executive officer of Luoyang Sow International Mining Company is Muzhu’s vice-president of China operations, Anthony Tam, BSc, engineering, who is presently in China commencing exploration operations on the XWG property.

The XWG property is located 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 nine kilometres away from the XWG property.

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 grams per tonne Ag, 3.88 per cent Pb, 6,680 parts per million Zn and 7 per cent Cu. More than seven individual mineralized veins have been identified by previous work carried out on the property by team 6 of the Henan non-ferrous geological prospecting department. Lengths of the known veins vary from 270 to 1,080 metres with widths varying from one metre to five metres (Muzhu Mining press release, Feb. 1, 2022).

James Tong, interim CEO of Muzhu Mining, states: “The board of Muzhu Mining is very excited to be moving forward with the XWG property exploration in China. The newly created, 100-per-cent-owned subsidiary Luoyang Sow International Mining Company will contribute greatly to the company’s future successful operations within the Henan province of China.”

About Muzhu Mining Ltd.

Muzhu Mining is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds 100-per-cent interest in the Sleeping Giant South project, located in the Abitibi greenstone belt, approximately 75 km south of Matagami, Que. As well, Muzhu has executed an option agreement to acquire up to 80 per cent of the silver-zinc-lead XWG property in the Luoning county, Henan province, China.

https://muzhumining.ca/