Canadian-based QGX Ltd. (TSX:QGX)
announced Thursday that it has signed a pre-mining agreement for the
Golden Hills and Undur Tsagaan projects with the Mongolian government.
The agreement specifies that
QGX will conduct a final feasibility study, complete an environmental
impact study, and gain approval for final plant design for both sites.
The pre-mining operations for Golden Hills and Undur Tsagaan are, according
to the agreement, to be completed by April 2011.
Exploration at Undur Tsagaan
has shown promising deposits of various metals. Deposits of gold have
been discovered at golden hills.
" These agreements pave
the way for the projects to obtain all necessary permits and approvals
for mining. Once completed, the operations are mandated to reach full
production within one year's time,” said Paul Zweng, President and
Chief Executive Officer of QGX Ltd.
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