HEBEI, PRC, Oct. 7, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Verde Resources, Inc. (OTCQB:VRDR) is pleased to announce it has entered into discussion with a mine company in Hebei Province of China on potential collaboration in the areas of lode gold exploration and exploitation.
The prospect lode gold mine in Hebei province is currently in small scale production. Based on initial analysis of exploration data available, the Company believes that the Hebei gold mine possesses a significant potential for high grade lode gold resources. Laboratory test on samples collected from the site prospect also indicated promising results for part of the lode gold system. The samples range from 5.3 g/t to up to bonanza grade of 177.67 g/t. An initial geological survey has estimated the potential lode gold resources at 15-20 tons (equivalent to approximately 480,000-640,000 troy ounces) subject to further confirmation by in-depth exploration work.
The initial discussion with Hebei mine company for the scope of collaboration covers funding support for further sampling program and exploration work, expansion of current mine facility to ramp up future production, mine planning, operation management and etc. Mr. Wu, President of Verde Resources, said "In line with our expansion plan to identify global resource opportunities, we are very positive with our discussion with the Hebei mine company on the potential collaboration that will see positive development going forward."
Mr. Wu concluded, "As we move forward, our aim is to capitalize on the individual strengths of our regional partners and to make the best use of resources available. We remain firmly committed to maximize value for our shareholders."
About Verde Resources, Inc.
Verde Resources, Inc. is an exploration stage mining company focused on global mining acquisition and development opportunities. Through its subsidiary, Verde owns a majority interest in Champmark Sdn Bhd, a mining contractor of the mining lease for Site IV-1 at the Merapoh Gold Mine in Pahang, Malaysia, which has four tons of alluvial gold resources and potential 30 tons of lode gold. Verde is also exploring for potential rare earth elements deposits in various parts of the world.
Website: http://www.verderesources.us
For more information, please contact Michael Liang: 852-21521223 .
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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