Kenadyr Mining has finalised a drill contract with Quest Exploration Drilling (QED) for a high-impact core and reverse circulation drill program on its Borubai gold licences in the Kyrgyz Republic. Drilling will start within the next 90 days.
Kenadyr is in a strong position to embark on this program, having a strong balance sheet, no debt nor significant payments owing, a strong institutional shareholder base and a management team with extensive in-country operational experience, and merger and acquisition expertise.
The updated contract with QED reflects a focus on high impact areas of the project. A focus of the program is to establish correlation between extensive previous historical Soviet drilling and modern drilling. Drilling at the Borubai project has the potential to increase both the size and the grade of the mineralisation as a result of increased core recovery and modern drilling and assaying techniques. Core recovery during Soviet drilling averaged only 60%.
In addition to initial drilling in the high priority South Zone, an area of mineralisation directly adjacent to the Zijin Mining Group’s Taldy-Bulak Levoberejny (TBL) mine, Kenadyr will undertake drilling, bulldozer trenching and sampling cuts on the SS Zone and SS Trend. The corporation intends to take approximately 1250 channel samples and 2200 soil geochemistry samples in this area.
Kenadyr chief executive officer Dr Alexander Becker says, “The underlying geology within this belt is conducive to large size and high grade. Based on this, the strategic location and the immense amount of historical investment in drilling to guide us, we are enthusiastic about the start of this work program. Kenadyr will seek to confirm and enhance past historical estimates of both size and grade.”
The Borubai project covers a contiguous 164sqkm land package that encircles the Zigin/Kyrgyz/Altyn newly constructed and operational TBL mine, which was built at a cost of US$296-million, in northern Kyrgyz Republic.
QED has a 30 year history and has grown its business to be an industry leader in the provision of drilling services to varied clients. QED’s services includes diamond drilling, reverse circulation (RC) drilling, RC grade control, geothermal, geotechnical drilling, water boring and slope stability solutions.