• Exciting developments were made near Muzhu Mining’s exploration projects in China and Quebec.
• Muzhu Mining completes its maiden drill program in the prolific Abitibi Greenstone Belt, Quebec.
• Muzhu’s enticing prospects surface as silver demand is projected to reach record highs in 2024 while the price of gold keeps going up.

With strategic holdings in some of the world’s biggest treasure troves of gold and silver, Muzhu Mining Ltd. (CSE: MUZU) is gearing up for a banner 2024 that is being propelled by promising finds at projects neighbouring its properties.

The Vancouver-based mining exploration company has enviable concessions within the heart of China’s largest silver mining area known as the Ying Mining District and in the prolific Abitibi Greenstone Belt, a vast mineral-rich geological formation that spans across Ontario and Quebec in Canada.

“The recent encouraging results at our neighbours’ projects in China and Quebec are adding strength and richness to the overall picture of Muzhu’s potential,” said Dwayne Yaretz, CEO of Muzhu Mining Ltd.

“We are seeing some great mineralization trends extending from the neighbouring properties and are blessed with being in these two great locations,” said Yaretz, a seasoned entrepreneur with more than 35 years of experience in corporate leadership in a variety of global companies.

Muzhu currently holds 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt, approximately 75 km south of Matagami, Quebec. Muzhu has also executed two option agreements to acquire up to 80% of the silver, zinc, lead XWG and LMM Properties in the Henan Province located in China.

Both Muzhu’s Chinese endeavours are surrounded by seven mining properties operated by Silvercorp Metals Inc. and are advantageously located in the region known as China's "Silver Triangle," benefiting from established infrastructure such as water, power and road access. Silvercorp is the largest domestic primary silver producer in China, the third largest silver-producing country in the world. Its recent exploration projects in China have yielded high-grade silver results, particularly at the TLP mine, which is adjacent to Muzhu’s properties.

Silvercorp announced that “from June 16 to December 31, 2023, a total of 23,742 m in 180 diamond drill holes, including 157 underground holes and 23 surface holes, were completed at the TLP mine.”

Notable findings include a significant silver intercept of 5,955 g/t and other valuable metals from various veins at different elevations, suggesting similar promising potential in the region. Muzhu’s own exploration work has also yielded more than seven individual mineralized veins showing economic grades of silver, lead and zinc similar to that of the neighbouring Silvercorp TLP mine, which has measured and indicated silver resources of 5.43 million tonnes.

Silvercorp has also reported impressive high-grade results from their extensive drilling program at the HPG mine in the Ying Mining District, which is also adjacent to the Muzhu properties.

"We are extremely encouraged by Silvercorp's recently announced drill results from their ongoing drill program in the Ying Mining District, immediately adjacent to Muzhu's LMM and XWG properties,” said Anthony Tam (BSc.Eng) Muzhu’s VP of China Operations. “Muzhu is planning an aggressive exploration and development strategy for its LMM and XWG properties," he said.

Muzhu’s maiden drill program in Quebec has investors buzzing

In Quebec, Muzhu holds 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt. The property is located less than 1 km southwest of the past-producing Sleeping Giant gold mine where Abcourt Mines Inc. recently announced the re-opening of the mine and mill. The re-opened facilities are processing ore from the Sleeping Giant Mine and surrounding deposits.

Abcourt has also announced its Sleeping Giant Mine drill results from hole 29-266 which produced significant gold intersections of 14.35 g/t over 1.3 m, 15.67 g/t over 3.21 m, 29.29 g/t over 0.5 m and a high of 66.92 g/t over 0.5 m, all between depths of only 54.9 m and 91.5 m. In addition, two historical drill holes, which are right on the property line between Abcourt and Muzhu, have documented "greater than" 10 g/t gold, said Yaretz.

“This is significant as it reinforces our expectations and the likelihood that the gold mineralization trend on Abcourt’s property could extend onto Muzhu's Sleeping Giant South property," said Yaretz. “These encouraging exploration outcomes at our neighbouring properties, both in China and Quebec offer significant exploration upside for Muzhu,” said Yaretz.

But it’s not only what’s happening with its neighbours that has investors buzzing about Muzhu. The company recently announced a maiden drill program on its Sleeping Giant South Project in Matagami, Quebec. The program seeks to enhance the presumption that the mineralization trend discovered on Abcourt’s immediately adjacent Sleeping Giant Mine extends onto Muzhu’s Sleeping Giant South Property. Abcourt’s Sleeping Giant Mine has strong potential for expansion from more than 800 mineralized structures open at depth.

Two holes drilled by Abcourt at or near the border of Muzhu's property returned values greater than 10 g/t gold. Together with individual gold occurrences already identified on Abcourt’s Sleeping Giant Mine properties help reinforce Muzhu's plan to continue further exploration, add value to the model and identify additional strategic drill targets.

“We have a strong foundation for potential growth and return on investment in an environment with low barriers of entry for value-focused gold and silver investors,”
— Dwayne Yaretz, CEO of Muzhu Mining Ltd.

Gold and silver demand expected to soar in 2024

Muzhu’s enticing prospects surface at a time when silver demand is projected to reach record highs while the price of gold keeps going up. According to the Silver Institute, global silver demand is forecasted to reach 1.2 billion ounces in 2024, which would be the second-highest level on record.

Silver’s use in a range of green technologies such as solar power generation and EVs, in addition to its medical applications is creating new waves of huge demand for the white metal on top of rising levels of bullion and investment interest.

The green revolution has also deeply affected silver demand in the automotive industry since this metal is extensively used as contacts and circuitry throughout the vehicle’s electrical and electronic systems.

Silver’s unique properties make it essential and hard to replace across a wide and growing array of automotive applications, many of those being critical in terms of safety and ever increasing environmental pressures, according to an analysis by Metals Focus. Over 55 million ounces of the metal was used in vehicle production in 2020, and that amount is expected to increase to over 90 million ounces by 2025.

As for gold, JP Morgan Research estimates that the yellow metal’s prices will peak at $2,300/oz in 2025 after a year of record demands.

The World Gold Council said overall gold demand grew globally by around 3 percent to 4,899 tonnes in 2023, primarily driven by strong demand in the over-the-counter market. The conflict in the Middle East, uncertainty from elections in major economies and central bank purchases led by China will also boost safe-haven bullion's appeal next year, the report said.

The combination of strategic geographical positioning, encouraging exploration outcomes and the presence of necessary infrastructure presents a compelling case for the success of Muzhu Mining's projects, said Yaretz. “We have a strong foundation for potential growth and return on investment in an environment with low barriers of entry for value-focused gold and silver investors,” he said.

To learn more about Muzhu Mining Ltd, visit their website here, as well as on Facebook, X and LinkedIn.