Tangshang and Salachong Projects In June 2004, Hatch Engineering completed a technical report on the 100% owned projects. The report described widespread gold mineralization found at several locations within the 61 square km property holdings.

   Exploration for gold is active in this area of Yunnan province and in the adjacent Guangxi and Guizou provinces. The gold mineralization is broadly categorized as sedimentary-hosted or Carlin-style located within an area known as the Dian-Qian-Gui Triangle or Gold Triangle. Only certain portions of the properties have been subjected to detailed exploration to date and additional work is warranted along structural and geochemical trends identified from regional scale work. To date, detailed work has focused on a few specific targets where programs of trenching, tunneling and limited diamond drilling have outlined several zones of oxide gold mineralization. The widest zone of gold mineralization intersected to date was encountered in a tunnel driven across the No. 3 Zone on the Tangshang property. Sampling along the tunnel averaged 1.12 grams/tonne gold over 56.7 meters.

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In 2003, a test heap-leach project was established at the Anglanshan section of the Tangshang property. Run-of-mine mineralization grading an estimated 0.87 g/t gold resulted in recovery of approximately 2,000 oz gold.     The Company is undertaking further exploration of the Tangshang and Salachong properties with a program of trenching to evaluate the potential of known structural zones and gold geochemical anomalies identified by work to date. A bulk mineable oxide gold resource is the most likely target.    In addition, PPM holds a right of first refusal to acquire exploration rights to 17 additional gold properties in Yunnan province.

Click to enlarge Quartz veining exposed in wall of open cut at the Laojianshan Zone on the Tangshang property