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Chaarat Gold Holdings Ltd.
Summary
| Project: | Kapan | |
|---|---|---|
| Deposit: | Kapan | |
| Location: | Armenia | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 7/29/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-7-2019: Chaarat Gold Holdings Ltd. announces a Resource Estimation report for its Kapan deposit at the Kapan project. Updated mineral resource estimate. Chaarat (AIM:CGH), gold mining company with assets in the Kyrgyz Republic and Armenia, provides an | |
| Resources: | (Resource, M+I): 8.92Mt @ 2.67g/t Au, 53.38g/t Ag, 0.61% Cu, 2.45% Zn at project | |
| CP/QP: | [Resources]: Dorian L. Nicol (Internal) | |
| ABSTRACT: | Chaarat (AIM:CGH), gold mining company with assets in the Kyrgyz Republic and Armenia, provides an update regarding the Kapan mine which the Company acquired on 30th January, 2019. All the statistics below relate to the period ending 30 June 2019. Artem Volynets, Chief Executive Officer of Chaarat Gold, said: “I’m pleased with the progress that the new management team are making at Kapan. Our ESG statistics have been outstanding, showing solid management commitment to establishing a safe operating environment. “Also positive is a revised and more accurate Mineral Resource Estimate of 1.775Moz Au Eq in M&I Resource. This, based on 69,000m of exploration drilling done in 2018, better reflects the underlying potential and value of the asset. We are especially encouraged by the significant increase in M&I Resource of 54 per cent from 1.15 to 1.775Moz Au Eq, which supports our belief that we will be able to replace reserves at Kapan on a continuous bases going forward. “Although this year has seen a challenging start to ownership due to a number of legacy issues, our experienced management and mine-site team identified these early and began remedial work immediately with encouraging results. “As we continue to streamline operations and drive other improvements, we are confident that Kapan will achieve our targeted operational results in Q3 of this year”. | |
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