Chaarat Gold Holdings has received positive results from a drilling program at the Tulkubash Zone of Chaarat Gold Project in the Kyrgyz Republic. The company is confident that the program, which has been extended, will increase the life of mine of the Tulkubash open pit heap leach project.
Additional mineralisation has been identified within the current Tulkubash pit while mineralisation also extends from the current Tulkubash pit to connect with other drilled areas, or satellite pits, to increase the pit length from approximately 1100 to 2200 metres.
Best recent results are 24.5 metres true width from a depth of 82 metres @ 1.35 g/t gold, 11.4 metres from 264.5 metres @ 2.54 g/t, 18.4 metres from 4.5 metres @ 1.49 g/t and 35.2 metres from 68.5 metres @ 1.05 g/t.
Mineralisation is open to the northeast with indications of continuity for at least 3km.
Chaarat believes there is substantial potential to increase the life of mine of the project and has extended the drilling program by 4000 metres to 15,000 metres.
Chaarat’s CEO Robert Benbow said, “These results continue to demonstrate the untapped potential of the Tulkubash heap leach project. The 2017 drilling program has identified oxide mineralisation for another kilometre northeast of the current Tulkubash pit and it is still open in that direction.
“We have progressed ahead of schedule and, with the encouraging results to date, are adding 4000 metres to the drilling program this season.
“We remain confident that the reserve base of the Tulkubash project can be enlarged to significantly extend the life of mine.
“Once the mine plan is updated we expect the pre-stripping required before gold production commences to be considerably reduced. A reduction in the pre-stripping and the extension of the life of mine are expected to impact positively on the economics of the project.
“The feasibility study for the Tulkubash Heap Leach Project is due for completion in Q1 2018.”
Tulkubash is one of three zones of mineralisation within the Chaarat project, the others being the Contact and Main Zones.