The Gubong Gold Mine

An historic mine with exponential upside


Gubong, which was historically the second largest gold mine in South Korea has 9 granted tenements covering c.25 sq km. It is flat dipping with 9 veins extending 500m below surface and known to extend at least a further 250m. The production opportunity for Bluebird prior to looking at deepening the mine is the 25 levels already developed with all the remnants and unmined areas left by the original miners. The 25 levels extend over 120 km in total length which indicates the size of the opportunity. The Korea Resources Corporation (‘KORES’) estimated 2.34m tonnes at some 6 g/t Au garnered from 57 drill holes over 17,715.3 metres. Gubong is an orogenic deposit, which typically have a depth of 2km compared to the current depth of 500m. The Board believe it has a potential resource of 1 million + oz Au in-situ, plus an estimated additional 300,000 oz Au from satellite ore bodies. Production at Gubong in the medium-term target is c.60,000oz Au with a long term potential of 100,000oz per annum.


Flat dipping structure with 9 veins extending 500m below surface and known to extend at least a further 750m

4-5 veins worked which were merging at depth (1 main vein – vein 6 with vein 5 showing good potential late on in historic mining) 250m

9 veins known plus the additional Danbong, Bongnam and Gunryong veins, only a few were mined and other veins in this system have potential to be productive

Strike length c.1,500m and dip length of approx. 1,800m – mining down to c.500m below surface

Open at depth and along strike – regional extent of 3-4km

KORES historical resource of 2,346,440t @ 7.36g/t Au (555,299 oz Au)

1‐2m thick quartz vein which hosts the mined mineralisation is continuous for a further 500m down dip

Estimated non JORC mineral resource C. 1.3Moz

Historical capex of the existing shafts and tunnels would have been >$20m

Production target 60Koz Au/p.a – longer-term outlook >100k oz Au/p.a

Rationale for Gubong

The Gubong mine is highly prospective. Mine studies, geological modelling, metallurgical testing and previous data all point to the potential for a low capital intensity operation using simple process gravity separation or vat leach. With excellent infrastructure and a team with a track record of developing similar deposits, there Gubong represents an opportunity to develop up to 100,000 oz Au production via implementing a low risk development path.

3D Modelling Outlines Gubong Opportunity 

Historic Workings at Gubong Mine