Strategic Mining, www.strategicminingcorp.com – the aggressive gold producer focused on developments in the US, West Africa (Guinea) and especially Vietnam, reported the arrival of the Boart Longyear LF 70 diamond core angular drill rig today in Vietnam.
The LF 70 is a huge asset for delivering on the true potential of SMNG accessible resources in Vietnam. The rig, mounted on an a Morooka track system, will prove to be a powerful edge when it comes to developing the targeted Ba Dinh gold property.
The Company enjoys a sweetheart deal with the Vietnamese Government via joint venture ties with Ba Dinh Minerals JSC out of Ho Chi Minh City. Vietnam is rapidly emerging as a major Asian gold producer. The Vietnamese Government has grown extremely receptive to mining operations since incorporation into the Association of Southeast Asian Nations (ASEAN) free trade zone.
The LF 70 is the first angular core rig in Hoa Binh Province, a move which has won the Company acclaim from the Vietnamese Government for introducing the latest such technology to the region, helping to signify the growing footprint Vietnam has in the world market.
President of SMNG, Todd Sterck, commented on the surging global demand for gold amid a perfect storm of currency devaluation in established markets and noted the particularly high demand from India and China (both ASEAN members) for gold as key elements to the Company’s overall strategy.
Sterck emphasized the importance of the track system and the LF 70, detailing how operations would be able to proceed “throughout all seasons” and at previously inaccessible areas, a huge boon for a company like SMNG which is hungrily seeking new opportunities regionally.
Sterck reaffirmed the Company’s dedication to becoming a significant gold producer and pointed to ongoing efforts to secure additional mineral rights to key, high-value properties while maintaining a proactive stance towards the cultivation of strategic joint ventures.