13 Aug 2009 08:18

Golden Century to purchase exploration right to gold deposit in Sichuan

Shanghai. August 13. INTERFAX-CHINA - Over-The-Counter Bulletin Board-listed Golden Century Technologies Corp., a U.S. medical supplies manufacturer operating in China, has agreed to buy the exploration right to the Yangtan gold deposit in Nanjiang county, Sichuan Province, from JinXin Copper Holding Ltd., a British Virgin Islands-based company, Golden Century announced on Aug. 12.

Golden Century will issue $500,000 worth of new shares to JinXin Copper in exchange for the exploration right to the Yangtan gold deposit, which covers an area of 9,770 square meters.

According to a report from the Sichuan Bureau of Geology and Mineral Exploration, the Yangtan gold deposit also contains iron ore resources grading between 20.56 percent and 33.51 percent.