Largest Gold Vein in Korea Discovered at Jecheon Mine: 45m Wide and 1800m Long

Daehan Mining Development Co., Ltd. announced that a high-grade gold vein has been discovered at Jecheon Mine (formerly Geumpung Mine), one of its owned mines, and that gold production will resume.

Jecheon Mine, one of the few productive mines in Korea, has completed preparations to respond to the rising demand due to the increase in gold prices.

Generally, the amount of gold in a gold mine is confirmed through estimated reserves and proven reserves. Estimated reserves, confirmed only through drilling, carry a high investment risk as the actual gold vein has not been verified. Proven reserves, however, are confirmed directly by certified engineers (affiliated with the Ministry of Trade, Industry and Energy), who verify the gold vein and prepare a report on the confirmed quantity, thus offering higher investment stability and the expectation of high added value. The gold vein discovered at Jecheon Mine has a proven reserve of over 1 million tons, laying the foundation for it to become a symbolic presence among domestic gold mines.

[Inside Jecheon Mine. The gold vein is 45m wide, showing the largest gold vein in Korea.]

Last month, a grade survey to determine the amount of gold contained in the ore was conducted by randomly sampling six locations, confirming an average of 13g of gold per ton. Typically, a grade of about 5g per ton is considered highly profitable, and the grade found at Jecheon Mine is higher than that of previously discovered gold mines. Additionally, the gold vein has a width of 45m, the widest gold vein in Korea, and approximately 1,800m of tunneling has been completed to locate the vein.

[(Chairman Kwon Omok of Daehan Mining Development Co., Ltd. is explaining about the gold vein he discovered.)]

At one time, Korea produced hundreds of kilograms of gold annually, but production was halted due to falling gold prices and declining mine profitability. Therefore, the discovery of the gold vein at Jecheon Mine is expected to serve as a turning point for Korea to reemerge as a gold-producing country.

This news of resuming gold production has attracted significant attention in the gold market, with investors expecting high returns due to increased investment stability.

Accordingly, Daehan Mining Development Co., Ltd. has signed an investment contract in mutual agreement with CEO Jang Woo-jun of Triple Gold Ventures Co., Ltd., and plans to deposit the gold produced from the mine with Triple Gold Ventures Co., Ltd. to carry out various gold-related businesses.