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Chaarat Gold Holdings Ltd.
Summary
| Project: | Chaarat | |
|---|---|---|
| Deposit: | Tulkubash Zone | |
| Location: | Kyrgyz Republic | |
| Commodities: | Gold | |
| Date: | 6/18/2019 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 18-6-2019: Chaarat Gold Holdings Ltd. announces an Exploration/Drilling Update report for its Tulkubash Zone deposit at the Chaarat project. Drilling results incl. 19.50m @ 2.20g/t Au from 27.00m. Chaarat (AIM: CGH), the AIM-quoted gold mining company wit | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dorian Nicol (Internal) | |
| ABSTRACT: | Chaarat (AIM: CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, is pleased to announce the first tranche of results from its 2019 exploration and drilling programme at its Tulkubash oxide gold deposit in the Kyrgyz Republic. To date, 26 holes have been completed totalling 3,860 metres of a total 20,000 metre drilling programme scheduled for 2019. The drilling is focused on adding Measured and Indicated Resources, with potential for conversion into reserves as part of a year-end Resource and Reserve Update. Of the planned 20,000 metres of drilling this year, the large majority (c.16,000 metres) will comprise exploration and step-out drilling from the current resource boundary. Much of this will test priority targets northeast along strike from the currently defined resource boundary and in previously undrilled zones adjacent to current satellite pit shells. Evidence to date suggests that both gold grade and oxidation state (which is indicative of metallurgical recovery) are improving along strike to the northeast. An extensive soil geochemical anomaly in this area, as well as favourable alteration, indicates that the Tulkubash Trend continues and indeed strengthens in this direction. Approximately 2,000 metres of drilling have been allocated to an infill drilling programme within currently designed pit boundaries with the objective of converting waste to ore and improving project economics. A final 2,000 metres is allocated to initial reconnaissance drilling of high-grade targets up to five kilometres along strike from the current resource boundary, with the objective of validating the potential for more distal targets as part of the district-scale exploration, discussed in more detail below. | |
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