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Ovoca Gold Plc
Summary
| Project: | Stakhanovsky | |
|---|---|---|
| Deposit: | Stakhanovsky | |
| Location: | Russia | |
| Commodities: | Gold | |
| Date: | 5/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-5-2018: Ovoca Gold Plc announces a Resource Estimation report for its Stakhanovsky deposit at the Stakhanovsky project. Annual report including resource statement. The Stakhanovsky exploitation license is situated in the north-western part of the Magad | |
| Resources: | (Resource, Total): 4.4Mt @ 4.5g/t Au for 327Koz Au contained at Stakhanovsky | |
| CP/QP: | [Resources]: Not stated (n/a) | |
| ABSTRACT: | The Stakhanovsky exploitation license is situated in the north-western part of the Magadan Region and covers an area of 73 km2. The site is 40 km from Susuman, a town with a population of 7,500 and approximately 700 km northwest of Magadan. The Stakhanovsky exploitation license is owned by OOO Magsel, a wholly-owned subsidiary of Ovoca Gold. The license allows for exploration work, mine development, and mining and is currently valid until 7 May 2027; however, this can be extended upon successful petition to the appropriate Russian authorities. Stakhanovsky has significant infrastructure in place either adjacent to, or at site. A seasonal village, named Udarik, is used by placer miners in the summer months to mine near-by placer deposits for gold. Power lines connect Udarnik to the regional power grid. Udarnik has several housing complexes that could be used for future operations, and the road to Stakhanovsky from Susuman is maintained year round. The deposit area is dominated by two main fault systems, a sublongitudinal (south southeast striking) set of faults, and gently sloping thrust faults, which strike northeast. The two different fault sets are believed to have acted as conduits for magmatic fluids leading to the development of dykes and sills. | |
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