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Altyn Plc
Summary
| Project: | Sekisovskoye | |
|---|---|---|
| Deposit: | Teren-Sai | |
| Location: | Kazakhstan | |
| Commodities: | Gold-Silver | |
| Date: | 10/15/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-10-2019: Altyn Plc announces a Resource Estimation report for its Teren-Sai deposit at the Sekisovskoye project. Mineral resource and reserve statement for Teren- Sai. The Teren-Sai Project is an exploration and development project of Altyn Plc. It is | |
| Resources: | (Reserve, P+P): 16.43Mt @ 2.74g/t Au, 4.54g/t Ag at Teren- Sai | |
| CP/QP: | [Resources]: V. Redozubov-Gorskiy, A. Clay (Internal;Ernst and Young Advisory Services Pty Ltd.) | |
| ABSTRACT: | The Teren-Sai Project is an exploration and development project of Altyn Plc. It is located in the East of Kazakhstan and is adjacent to Altyn’s operating Sekisovskoye Mine. While covering a total of 15 targets, Altyn’s initial focus has been solely on Area No.2 in particular two of its four breccia bodies. As such, Altyn Plc is pleased to announce the results for Teren-Sai’s Area #2 first Independent Competent Person’s Report (“CPR”) while continuing exploratory and development work on the remaining targets. he Subsoil Use Contract for the Teren- Sai Project is held by MMC Altyn MM LLP (“MMC Altyn”) a wholly owned subsidiary of Altyn. The Teren- Sai Project was granted Subsoil Use Contract No. 48-40-TPI, effective from 27 May 2016. The Subsoil Use Contract is an Exploration Contract, valid for gold ore, which covers an area of 221.25km2 but excludes an area of 0.56km2, resulting in a total area of 220.69km2. The excluded area forms the boundary for the Subsoil Use Contract for the Sekisovskoye Mine. The contract is valid for a period of 6 years with the option to extend for a further 4 years. The maiden Mineral Resource and Ore Reserve estimates are based on exploration drilling conducted since acquisition of the subsoil use contract in 2016 and 31 May 2019 as well as historical drilling data. There have been important changes to the regulatory requirements in Kazakhstan resulting in a detailed discussion of these matters in the report. EY has compiled the CPR in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 edition (“the JORC Code”). At all stages, the technical teams ensured, that all technical parameters and economic assumptions were consistent with the requirements of JORC Table 1. | |
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