Sign up Australia
Proactive Investors - Run By Investors For Investors

Chaarat Gold sees 3km of mineralisation at Tulkubash

The oxide mineralisation is open to the northeast with potential continuity for at least three kilometres
picture of gold
Size of potential pit has doubled to 2,200m

Chaarat Gold Holdings Limited (LON:CGH)  has completed its 2017 exploration programme at Tulkubash with 60% more metres drilled than originally expected.

As a result, the indicative length of the proposed open pit has doubled to 2,200 metres as the current Tulkubash pit now connects with other previously drilled satellite pits.

WATCH: Chaarat Gold CEO Bob Benbow keen to get construction going at Tulkubash

The oxide mineralisation is open to the northeast with potential continuity for at least three kilometres, Chaarat added. There is also further potential along strike.

A resource update is underway and will form the basis of the reserves estimate in the feasibility study due for completion in the first quarter of next year.

Robert Benbow, chief executive, said: “We are increasingly confident that the mineralisation extends for at least three kilometres. Mineralisation has been extended to the south, new hanging wall lodes in the main pit area have been developed and the gold-bearing lodes in the satellite pit area have been expanded.

“Based on these results, the anticipated increase in the reserve base (and hence the life of mine) as well as a reduction in pre-stripping are expected to impact positively on the economics of the Tulkubash Project. “

READ: Chaarat Gold sees better environment for miners in Kyrgyzstan

Work has now started on the design of the heap leach pad, Benbow added.

Currently, the Chaarat project boasts a gold resource of over 7 mln ounces of which Tulkubash accounts for just over 800,000oz.

The 2017 programme amounted to 17,420 metres drilled in 2017 season against a planned 11,000m, or 30% of the total drilling area in the Tulkubash Zone.

View full CGH profile View Profile

Chaarat Gold Holdings Ltd Timeline

Related Articles

gold mine
March 10 2018
Thursday evening was a good one for GORO investors; the company posted annual net income of US$4.2mln and released its “strongest” ever updated mineral reserve for the Oaxaca Mining Unit in Mexico
1526980503_Scotgold---Richard-Gray-at-Tyndrum.jpg
May 22 2018
New money allows Scotgold to proceed with long-awaited redevelopment of Cononish
Lionsgold
July 05 2018
“It is an exciting chapter Lionsgold is entering and we look forward to reporting on the company's many business opportunities and developments throughout the course of the year,” said chief executive Cameron Parry

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use