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Polymetal International Plc
Summary
| Project: | Nezhda | |
|---|---|---|
| Deposit: | Nezhda | |
| Location: | Russia | |
| Commodities: | Gold-Silver | |
| Date: | 11/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 13-11-2017: Polymetal International Plc announces a Resource Estimation report for its Nezhda deposit at the Nezhda project. Initial Ore Reserve for project. Polymetal International plc (LSE, MOEX: POLY; ADR: AUCOY) (“Polymetal”, the “Company”) is pleased | |
| Resources: | (Reserve, P+P): 15.5Mt @ 3.8g/t Au, 20g/t Ag for 1.9Moz Au and 10Moz Ag contained at Nezhda | |
| CP/QP: | [Overall Report]: Boris Sogrin (JSC Polymetal Management) | |
| ABSTRACT: | Polymetal International plc (LSE, MOEX: POLY; ADR: AUCOY) (“Polymetal”, the “Company”) is pleased to report the initial Ore Reserve estimate for the Nezhda gold property in accordance with the JORC Code (2012). “I am pleased that the initial Ore Reserve estimate for Nezhda reaffirms its economic viability and justifies Polymetal’s approach to developing the asset.” said Vitaly Nesis, Group CEO of Polymetal. “With low capital intensity and significant low-cost production, Nezhda retains significant optionality which we will work hard on to incorporate in the development plan before our final investment decision”. Nezhda is the fourth largest gold deposit in Russia, located in northeast Yakutia in the Tompon municipal district, approximately 480 km east from the city of Yakutsk (population of 350,000). The property is remote with access by an all-season unpaved road and no grid connection. The nearest federal highway is 110 km away from the deposit by allyear unpaved road. The highway provides direct access to the Khandyga river port (170 km) and the Nizhniy Bestiakh railway spur (370 km). The climate is characterized by long severe winters and short hot summers. The relief is moderately mountainous with relative altitudes above valley floors not exceeding 600 m. The deposit is composed of large mineralised zones, representing areas of intense brecciation comprised of crushed and sheared, hydrothermally altered, sedimentary rocks that have been variably enriched in quartz. The Nezhda mineralisation is double refractory due to the encapsulation of fine gold particles within sulphide minerals and significant presence of preg-robbing carbonaceous material. | |
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