China Unveils Another Record-Breaking Gold Deposit Discovery
Chinese geologists assert they've found an unprecedented 1,000-tonne deposit of gold in the nation's northeastern region, after last year's discovery of more than $80bn (£63bn) worth of the precious metal.
Researchers say China ’s advanced mineral prospecting technology is helping uncover these enormous deposits, which rank among the biggest globally.
Gold helps nations safeguard their economies during uncertainties. global financial fluctuation It is also utilized in the creation of batteries and electronic devices.
Although China leads globally as the top gold producer, expected to reach almost 380 metric tons by 2024, its confirmed gold reserves lag compared to those found in South Africa and Australia.
Findings like the most recent discovery in China’s northeast Liaoning province might aid the nation in staying competitive within the gold production sector.
Nevertheless, numerous specialists remain doubtful regarding the precision of the latest estimations and question the quality as well as the extractable nature of these newly discovered reserves.
However, China asserts that these are "simple to extract" locations boasting a high gold recovery rate.
According to local news reports cited by the South China Morning Post, the deposition area spans approximately 3 kilometers from east to west and exceeds 2.5 kilometers from north to south.
The findings regarding the Liaoning gold deposit discovery have been recently documented in the journal. China Mining Magazine .
This follows shortly after last month's report stating that geologists discovered approximately $80bn (£63bn) worth of gold at the Wangu goldfield located in the Wunan province.
The Geological Bureau of Hunan province reported finding 40 gold-filled rock veins approximately one mile beneath the earth's surface.
The Bureau stated that these deposits might contain up to 300 tons of gold, with additional reserves potentially available at deeper levels.
Altogether, it was suggested that the location might contain more than 1,000 tons of gold.
After the discovery, the Hunan Provincial Geological Institute stated that the finding was "important for ensuring the nation’s resource security."
However, geologists, such as those from the World Gold Council, have demanded independent verification along with additional drilling to substantiate these claims, noting that it might still be several years before these reserves can actually start being produced.
Experts suggest these findings highlight China's progress in gold exploration technology.
“The team responsible for this recent find noted significant advancements have been achieved in surveying, exploring, and studying mineral deposits.”
“In the new round of exploration in 2024, the exploration method of combining general and detailed exploration was adopted. At present, all construction drilling holes have found ore,” it said.
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