The second hole of the 2017 season drilled at the East Zone on Kenadyr Mining’s Borubai project in the Kyrgyz Republic, has intersected 50 metres @ 8.15 g/t gold, from a downhole depth of 151 metres. The zone is directly adjacent to Zijin Mining Group’s operating Taldy Bulak Levoberejnyi (TBL) Project.
The East Zone intersection is about 1km from a previous hole drilled in Borubai’s South Zone. The TBL deposit occurs directly between these two holes.
Both encountered identical mineralisation consisting of pervasive quartz-tourmaline-pyrite stockwork veining, which is consistent with the mineralisation being mined at TBL.
Kenadyr’s initial drilling was designed to intersect the various areas surrounding the TBL Mining Lease, which were drilled by the Soviets between 1970 and 1990, and where significant gold mineralisation was reported.
Subject to additional results, Kenadyr’s initial holes confirm the presence of highly significant widespread gold mineralisation reported historically by the Soviets, however these holes also encountered stronger and thicker mineralisation than previously reported from both the South and East zones.
These intersections confirm that significant widespread gold mineralisation exists on Kenadyr's licence directly adjacent to the TBL mine and that this continues in both directions along strike from that deposit.
The East Zone is open in two directions and to depth, and appears to connect to the TBL deposit.
Kenadyr is in a strong position having a robust balance sheet, no debt nor significant payments owing, and a supportive institutional shareholder base. The management team has extensive in-country operational experience, and merger and acquisition expertise.
CEO Dr Alexander Becker said, “These results from our second 2017 drill hole at Borubai have again exceeded our expectations.
“Technical staff believe, based on the strength of the mineralisation encountered in our first two 2017 drill holes, that the mineralisation being mined at the adjacent TBL mine continues strongly in two directions along strike onto Kenadyr’s Borubai licence. As well, based on the geometry of the TBL deposit, the corporation is confident that these intersections are approximate ‘true widths’.”
Borubai comprises an exploration license covering a contiguous 164sqkm land package in northern Kyrgyz Republic.