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Polyus Gold International Ltd.
Summary
| Project: | Sukhoi Log | |
|---|---|---|
| Deposit: | Sukhoi Log | |
| Location: | Russia | |
| Commodities: | Gold | |
| Date: | 1/24/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-1-2019: Polyus Gold International Ltd. announces a Resource Estimation report for its Sukhoi Log deposit at the Sukhoi Log project. Updated mineral resource estimate at the project. PJSC Polyus (LSE, MOEX - PLZL) ("Polyus", the "Company") provides an u | |
| Resources: | (Resource, I+I): 962Mt @ 2.1g/t Au for 63Moz Au contained | |
| CP/QP: | [Resources]: Dean Carville (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | PJSC Polyus (LSE, MOEX - PLZL) ("Polyus", the "Company") provides an update on Mineral Resources estimate for Sukhoi Log and reports a maiden Indicated Mineral Resource estimate completed by AMC Consultants Pty Ltd ("AMC") in compliance with JORC Code 2012.The estimated Mineral Resources at Sukhoi Log stand at 962 mt, with an average grade of 2.1 g/t Au and containing 63 moz of gold as at 30 October 2018. The estimate is a nine per cent increase compared to the previous estimate of 58 moz of gold as at 31 January 2017.AMC has also upgraded 28 moz of Inferred Mineral Resources to Indicated Mineral Resource.The 2018 Mineral Resource estimate is based on data from the verification drilling programme available at 14 September 2018 used in conjunction with historic drillhole data.The Company continues in-fill, deep levels, flanks and other drilling. The drilling campaign will continue until the end of 2019. Polyus plans to drill a total of 197,000 meters, including the approximately 135,000 meters drilled since October 2017. Ongoing assessment of the drilling campaign samples may result in further upgrade of the Mineral Resources estimate classification.As previously reported, the Company is proceeding with studies to enable estimation by AMC in 2020 of an Ore Reserve estimate based on Indicated Mineral Resources in the 2018 estimate and estimates resulting from the 2019 drilling campaign.Pavel Grachev, Chief Executive Officer of PJSC Polyus, commented:"The continued exploration success we are achieving at Sukhoi Log is reaffirming its status of one of the best undeveloped deposits globally and a cornerstone of Polyus long-term development strategy.We plan to proceed with the drilling campaign till the end of 2019 to further enhance definition of the ore body structure, and expect to deliver a maiden Ore Reserve estimate for Sukhoi Log in 2020." | |
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