Chinese geologists said Monday that 31.7 tonnes of gold ores had been discovered in Fengcheng City in the northeastern province of Liaoning

The average grade of the newly prospected gold ore is estimated at 2.85 gram per tonne, said experts with the Chinese Academy of Engineering, Ministry of Land and Resources, Bureau of Geological Survey, Chinese Academy of Sciences and the Chinese Academy of Geological Sciences said at a meeting held in the city.

The new gold reserve was discovered under and around a gold mine that has been operating for more than 20 years but has been facing a resource shortage.

The latest discovery could extend the life of the gold mine, which provides jobs for over 500 people, for another 23 years, said Wu Runyou, director of the city' s gold administrative bureau.

Meanwhile, 70 tonnes of silver with an average grade of 481 grams per tonne was also discovered in Fengcheng City.