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Siburan Resources appoints Guang Wei Zhang as executive director

Siburan Resources appoints Guang Wei Zhang as executive director

Siburan Resources (ASX: SBU) has appointed Guang Wei Zhang as an executive director following the completion of a $3 million placement in June to China’s Hunan Australia Mining.

Zhang is the second Hunan Australia Mining director to be appointed after Hao Ming Peng was appointed last week as part of the conditions of the subscription agreement.

His role will be to assist Siburan’s exploration team in advancing its exploration programs and developing its projects. 

Zhang, who has 30 years experience as a geologist, has served in senior positions with Chinese state-owned geological exploration bureaus, including Hunan Provincial Nuclear Industry Geological Exploration Bureau. 

Hunan Australia Mining is a wholly owned subsidiary of the Hunan Province Zhonghe Mining Industry Development Co, which is owned by a China State Government enterprise.

The company now holds a 19.9% stake in Siburan following the issue of 20.6 million shares at $0.15 each.

The partnership with Hunan could see Siburan fast track it Kirwans Tungsten Project in New Zealand.

The Kirwans project is highly prospective for tungsten and gold, with historical drilling intersections including 15 metres at 0.13% tungsten from 4 metres, 15 metres at 0.13% tungsten from 14 metres, and 5 metres at 0.15% tungsten from 33 metres.

Brent Butler, who has been a director of Siburan since its ASX listing, has stepped down. 


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Siburan Resources Timeline

Newswire
September 30 2014

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