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Highland Gold Mining Ltd.
Summary
| Project: | Unkurtash | |
|---|---|---|
| Deposit: | Unkurtash, Karatube, Sarytube | |
| Location: | Kyrgyzstan | |
| Commodities: | Gold | |
| Date: | 3/20/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 20-3-2017: Highland Gold Mining Ltd. announces a Scoping Study report for its Unkurtash, Karatube, Sarytube deposit at the Unkurtash project. Scoping study results incl. NPV (10%) of US$200M, IRR of 19%, LOM of 18yrs. Highland Gold Mining Limited ("Highla | |
| Resources: | (Resource, Total): 3.5Moz Au @ 1.82g/t | |
| CP/QP: | [Overall Report]: Mike Beara (SRK Consulting (Kazakhstan) Ltd.) | |
| ABSTRACT: | Highland Gold Mining Limited ("Highland Gold" or the "Company") announces details of a Scoping Study, compiled together with consultants SRK, which indicates positive economics for the Unkurtash project. An executive summary of the Scoping Study will be available shortly on the Company's website. Located in the Republic of Kyrgyzstan in Central Asia, the Unkurtash license area covers three well-explored deposits - Unkurtash, Karatube and Sarytube - with previously-published JORC-compliant mineral resources (measured, indicated and inferred) of 3.5 Moz of gold at 1.82 g/t (IMC Montan, 2013). The project is situated in an area that already features operating mines and has access to paved roads, power and water supply. Highland Gold acquired 100% of Unkurtash from Barrick Gold in 2006 and has since spent US$ 38 million on extensive exploration of the site. Local-standard (GKZ) reserve estimates and a local-format pre-feasibility study have already been submitted to and approved by Kyrgyz regulators. The Company is considering various alternatives for proceeding with the project, including partnering with another strategic investor to co-develop Unkurtash. | |
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