KENADYR Mining’s 2017 drilling program at the Borubai Gold Project in the Kyrgyz Republic has demonstrated that significant mineralisation continues to the east and south of the Zijin-KyrgyzAltyn Mining Lease. Kenadyr’s tenements surround the TBL gold mine, which is operated by Zijin Mining.
|Kenadyr Mining has an extensive tenement package that encircles the operating TBL gold mine.|
The drilling was designed to intersect the various areas surrounding the TBL lease which were previously drilled by the Soviets between 1970 and 1990.
Highlights of the program include 40 metres @ 6.17 g/t gold, 50 metres @ 8.15 g/t and 29 metres @ 5.35 g/t.
A second section, EZ-2, was recently completed at the East Zone, which is approximately 25 metres west of Section EZ-1. These sections demonstrate good continuity of mineralisation in this area and will provide clear guidance for step out drilling to the east, which is planned in 2018.
Kenadyr’s chief executive officer Alexander Becker said, “The 2017 drill program has demonstrated that the mineralisation comprising the ore body found at TBL continues strongly in two directions along strike onto Kenadyr’s Borubai licence.
“The new section EZ-2, in combination with EZ-1, clearly demonstrates that the mineralisation found at the East Zone is an en echelon body of mineralisation separate from the TBL deposit, and that this recently drilled zone can be considered a new discovery.”
Kenadyr’s Borubai project comprises a 100%-owned exploration licence covering a contiguous 164 square kilometre land package that encircles the newly constructed and operational TBL mine in the country’s north.
Zijin, the majority owner of TBL, is one of China’s largest gold producers, second-largest copper and zinc producer, as well as a major producer of tungsten and iron ore. TBL is designed to annually produce 125,000 ounces of gold.
Kenadyr recently entered option agreements with Realgold Resources for the acquisition of nine Kyrgyz mineral exploration licences, including some near Centerra Gold’s Kumtor project, which is the country’s largest mine.
The licences cover approximately 1200sqkm of the most prospective gold ground within the Middle Tien Shan carbonaceous shale belt and occur within a strike length of 800km from west to east.