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New Era announces exploration agreements in China
New Era Minerals announced two agreements in August entered into to advance its 95-percent owned Suyeke North nickel property located in Tuoli County, Tacheng Area, Xinjiang-Uyghur Autonomous Region, People’s Republic of China.
The company’s 95-percent indirectly owned subsidiary, Xinjiang Yongkun Mining has entered into a technical services agreement with Xinjiang Xinhui Geology and Mining, an arm’s length geological consulting firm based in Urumqi, Xinjiang, PRC, for the completion of a hydrological, engineering and environmental geology survey of the Suyeke North Property.
The budget for the survey work is CNY 617,700 (approximately C$117,600) and is expected to be carried out between August 10 and September 30, 2018.
New Era Minerals Inc., through its wholly-owned subsidiary, Haijin International Group Limited, owns 95% of Xinjiang Yongkun Mining Co., Ltd (“Yongkun”). Yongkun's principal activities are the exploration, evaluation and development of mineral property interests in the PRC, including Yongkun's 100%-owned Suyekebei (Suyeke North) nickel property located in Tuoli County, Tacheng Area, Xinjiang-Uyghur Autonomous Region, PRC.