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Petropavlovsk Plc
Summary
| Project: | Albyn | |
|---|---|---|
| Deposit: | Albyn | |
| Location: | Russia | |
| Commodities: | Gold | |
| Date: | 4/24/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 24-4-2019: Petropavlovsk Plc announces a Resource Estimation report for its Albyn deposit at the Albyn project. Annual report including resource and reserve statement. Petropavlovsk reports its Resources and Ore Reserves in accordance with the JORC Code. | |
| Resources: | (Reserve, P+P): 63.936Mt @ 1.13g/t Au for 2.32Moz Au contained | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Petropavlovsk reports its Resources and Ore Reserves in accordance with the JORC Code. As at 31 December 2018, Group Mineral Resources amounted to 20.52Moz (2017: 20.86Moz), including Reserves of 8.21Moz (2017: 8.15Moz). The marginal decrease in total Mineral Resources results from a combination of mine depletion (0.49Moz), the disposal of non-core satellite assets (0.30Moz) and the sterilisation of a part of the Pokrovskiy open pit resource by the development of a POX tailings facility (0.12Moz). The decrease has been more than compensated for through discoveries at Pioneer, Albyn and Malomir leading to a gross 0.45Moz increase in Mineral Resources over the year at these mines. Ore Reserves increased by 0.56Moz to a total of 8.21Moz. At Pioneer, new resources and reserve zones were discovered at Katrin (non-refractory), Nikolaevskaya and Ulunginskaya (both refractory). The deposits appear suitable for both open pit mining (Katrin and Ulunginskaya) and underground mining (Nikolaevskaya). At Albyn, an increase in resources is associated with discoveries along the western extension of the Albyn ore body. These extensions occur in a down dip direction which allows for an initial Resource estimation for potential underground mining at Albyn. During 2018, results of exploration completed in H2 2017 at the south group of mineralised zones at Unglichikanskoye were reinterpreted and included in Mineral Resource and Ore Reserve estimates. This resulted in a 101koz increase in Mineral Resources and a 42koz increase in Ore Reserves for the project. | |
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