Company Information for Leyshon Resources Ltd

ASX-LRL; AIM-LRL

www.leyshonresources.com

View video

Hear audio

Leyshon Presentation.pdf

Company stock charts - 6 Month chart

ASX; LRL

View full financial data

AIM; LRL

View full financial data

Company Statement

Developing Heilongjiang’s first Sino-Foreign Gold Mine:
Leyshon Resources Limited (AIM & ASX:LRL) was on the ground in 2003 when China opened its gold sector to foreign investment and is participating in the once-in-a- lifetime transformation of this state owned industry into the world’s largest gold producer.

The Company is fully engaged in China with its main operating office in Beijing and is developing the Zheng Guang gold zinc project as the first Sino Foreign owned gold mine in the mineral rich province of Heilongjiang, north east China.

The joint venture has established a 135 km² strategic ground position on a major unexplored gold and copper belt and has achieved a discovery cost to date of less than US$5 per ounce of gold.

A 35,000 metre exploration programme commenced in May 2008 targeting previously identified gold and copper prospects.

The project benefits from exceptional infrastructure as it is located within a well established coal and copper mining community and combines low Chinese capital and operating costs with the latest Australian metallurgical design.

Leyshon’s partner, Qiqiha’er Brigade of the Heilongjiang BGMR, is one of the largest geological bureaus in China and is providing a range of services to the joint venture enabling the project to rapidly move ahead on an extremely cost effective basis.

The Company is one of AIM’s most liquid gold stocks with a market capitalisation of US$100 million and is funded by its major shareholders which include JP Morgan, Baker Steel, US Global, Citigroup, Investec, Deutsche, Jupiter Ospraie, Generali, Credit Suisse, Foreign & Colonial, Standard Bank and others.

Current Operations

Zheng Guang Gold Project
The Zheng Guang gold project lies approximately 8 kilometres south-east of Duobaoshan and was discovered by the HLJBGMR in 2000 through a regional stream sediment sampling programme. Follow-up work during 2002 included detailed soil sampling, diamond drilling, trenching, shafts and adits, defining strong mineralisation at the Zheng Guang prospect and outlining geochemical anomalism and other zones of mineralisation over a strike length of 2 kilometres. As well as testing the shallow potential of the deposit, the HLJ-BGMR also completed deep vertical drilling, confirming the depth extent of the mineralisation to over 350 metres in the southern section of the deposit.

All available data has been captured, compiled and interpreted and an exploration programme designed to define the size and key controls on mineralisation. The initial programme consists of approximately thirty diamond drill holes for 4,500 metres testing the deposit at 100 metre section spacings to a vertical depth of approximately 150 metres.

Results from the first six drill holes have been received and are encouraging, with strong intercepts (including 16 metres @ 6.09 g/t from 69 metres in hole ZGD006 and 44 metres @ 3.16 g/t Au from 50 metres) being recorded from the central section of known mineralisation.

Broad zones of mineralisation (up to 44 metres down hole) are present and that encouraging widths of higher-grade material are still open at depth, to the west. High grade pyrite/galena veins grading up to 60 g/t Au have been intersected within the broader, lower-grade envelopes although their orientation and continuity is as yet unknown.

Drilling was completed in September 2004 and has tested over 700 metres of potential strike and the down-dip potential of the mineralisation. Follow-up drilling, particularly to test the stronger intercepts at depth, will also be completed prior to the completion of the 2004 programme.

Regional Review
A detailed regional review of Heilongjiang and north-east Inner Mongolia by Leyshon has revealed it to be one of the most geologically prospective and under-explored areas in China. The region straddles the eastern extension of the 6,000 kilometre Tien Shan Belt and was formerly one of the countries largest gold producing regions having produced over 20 million ounces.

Much of the alluvial production has now been exhausted and attention has turned to the vast hard rock potential which lies largely unexplored by modern exploration techniques due to the lack of funding.

The review has highlighted that the region is host to significant porphyry copper/gold and high-grade epithermal gold mineralisation and has strong geological similarities with northeast Queensland giving rise to the potential for discoveries of similar quality as Mt Leyshon and Newmont’s Pajingo.

Through its joint venture agreement the BGMR Leyshon has had full access to the data on over 50 projects held by various organizations across Heilongjiang and northern Inner Mongolia. It has completed reviews on all and has undertaken detailed site based reviews on the 20 most prospective.

From this review process Leyshon and its joint venture partners have selected the Zheng Guang gold project as the first to be explored and potentially developed under the agreement.

Geographical Spread

Board of Directors and Key Management

John WS Fletcher	Non-Executive Chairman
Paul C Atherley	Managing Director
Richard Seville	Non-Executive Director
Andrew Berry III	Non-Executive Director

Company Address

36 Outram Street
Perth, Australia 6005


Telephone:	+61 89321 0077
Facsimile:	+61 9322 4073
Email:	info[at]leyshonresources.com
Website:	http://www.leyshonresources.com

Additional Address/Key Contact

Main Operating Office
Suite 2502, Tower D
China International Trade Centre
No. 6 Jianguomenwai Avenue
Chaoyang District
Beijing 100022
China

Capital

Ordinary Fully Paid Shares; 218,255,692

Annual General Meeting

November

Year End

30 June

Nominated Brokers

Mirabaud Securities Limited
21 St James's Square
London SW1Y 4JP

Seymour Pierce Limited
20 Old Bailey
London EC4M 7EN

Nominated Advisors

Seymour Pierce Limited
20 Old Bailey
London EC4M 7ENv

Major Shareholders

COMPUTERSHARE CLEARING PTY LTD	129,778,528	59.46
NORTH ASIA METALS LTD	24,000,000	11.00
NEWMONT NGL HOLDINGS PTY LTD	7,819,801	3.58
NATIONAL NOMINEES LIMITED	6,156,738	2.82
STANDARD BANK PLC	5,000,000	2.29
NEWMONT YANDAL OPERATIONS LIMITED	4,680,199	2.14
MR IAN PETER MIDDLEMAS	3,500,000	1.60
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED	2,295,319	1.05
CLEVELAND INVESTMENT GLOBAL LIMITED	2,202,824	1.01
ANZ NOMINEES LIMITED	2,134,771	0.98

Most Recent Statement

16/03/09 - Interim Financial Report 31 December 2008
30/01/09 - December Quarter Activities Report
31/10/08 - Quarterly Update to Sept 08
30/10/08 - ASX Additional Information Disclosure
29/10/08 - Annual Report and Managing Director's Report
06/08/08 - Ground Breaking Ceremony at Zheng Guang

To top