A division of the Chinese People's Armed Police Force engaged in gold exploration and production discovered large gold ore deposits in Wenxian County, northwest China's Gansu Province.

Sources of the division said that 66 gold ore veins were found inside the Yangshan mining zone covering an area of 288.8 square kilometers. The gold reserves are estimated at 156 tons.

Gold is traded at a price of some 413.4 US dollars per troy ounce at the London Gold Trading Market, which means the hidden economic value in the area would exceed 15 billion yuan (US$1.81 billion), said industry experts.

(Xinhua News Agency October 2, 2004)