On September 11, Zhao Guanghui, Deputy General Manager of LXML, a subsidiary of Chifeng Gold in Laos, led a delegation from the exploration team to visit the Company headquarters. They held in-depth exchanges with Wang Jianhua, Chairman of Chifeng Gold, and employees at Beijing headquarters. The LXML exploration team shared the discovery process of the significant SND deposit, demonstrating Chifeng Gold's professional strength and innovative breakthroughs in the field of mineral resource exploration.
During the exchange, Zhao Guanghui provided a detailed introduction to the discovery process of the SND deposit. The exploration team completed over 40,000 meters of drilling within just 10 months, simultaneously accomplishing geological modeling and resource estimation, with the entire process advancing efficiently. Particularly noteworthy is that the total discovery cost of this deposit was less than US$4 million, with a discovery cost per ounce of gold of less than US$1, far below the industry average, setting a new benchmark for exploration efficiency. The discovery of this porphyry gold-copper deposit holds significant strategic importance, not only substantially increasing the resources of LXML but also paving new paths for the Company's exploration efforts in the surrounding areas of the Sepon Gold-Copper Mine and even across Southeast Asia.
Chairman Wang Jianhua highly commended the outstanding achievements of the Sepon exploration team. He pointed out that any great accomplishment stems from long-term persistence and professional pursuit guided by independent thinking and benefits for all. Chifeng Gold adhered to independent analysis and autonomous decision-making, firmly committing to continued investment in exploration at the Sepon Mine. The exploration team, with strong willpower and belief, withstood pressure and, relying on professional technical capabilities and a dedicated spirit, achieved a significant deposit discovery with extremely low costs and in a remarkably short time. Their actions exemplified the essence of a "heroic exploration team". Chairman Wang expressed his hope that the Sepon exploration team would continue to carry forward the hardworking spirit, set clear goals, establish reasonable timelines, and persistently carry out exploration work to continuously extend the mine’s lifespan so as to create more job opportunities and pay more taxes, benefiting our employees, local communities, and the economy of Laos. Through genuine hard work and practical action, we will live up to the Company’s core value of "To benefit more people through the development of Chifeng Gold."
Members of the Sepon exploration team expressed their gratitude for the consistent and strong support from the Company headquarters and shared that this visit to Beijing was highly inspiring. They pledged to continue working hard in the future, contributing even more to the sustainable development of the Sepon Gold and Copper Mine and the Company.
This significant discovery of the SND deposit fully demonstrates Chifeng Gold’s technical prowess and management capabilities in the field of mineral resource exploration. The Company will continue to increase investment in exploration, optimize resource allocation, and continuously enhance resource security capabilities, laying a solid resource foundation for building Chifeng Gold into a "prominent gold producer well recognized around the world."