Fri. Feb 23rd, 2024
Chaarat Announces Maiden Mineral Resource Estimate for Karator Prospect

Chaarat, a leading gold mining company, has recently released the maiden Mineral Resource Estimate (MRE) for its Karator prospect, situated just 2 kilometers away from its highly anticipated Tulkubash gold project in Kyrgyzstan.

According to the MRE, Karator boasts an estimated gold resource of approximately 207,000 ounces with a grade of 0.96 grams per tonne. Additionally, there is potential for 5-10 million tonnes of oxide gold material with grades ranging from 0.8 to 0.9 grams per tonne, which will require further exploration, resource definition, and upgrade.

The company intends to utilize production from Karator, along with other satellite deposits, to extend the life of the Tulkubash Mine. With the current six-year projection, Chaarat aims to push it closer to their ultimate target of 10-15 years.

To accomplish this, the next steps for Karator include conducting additional systematic step-out and infill drilling. These efforts seek to advance and expand upon the initial resource estimate, bringing the project closer to its full potential.

Furthermore, an extensive technical assessment is planned, encompassing various field activities such as metallurgical, geotechnical, and hydrogeological testing. This assessment will contribute to the production of a further Feasibility Study (FS) report, providing confirmed JORC compliant Reserves.

David Mackenzie, the chief financial officer of Chaarat, expressed his optimism for the company’s Tulkubash Gold Project. Expected to commence construction in the first half of 2024, subject to financing, Tulkubash alone promises to be a significant gold mine, yielding approximately 95,000 ounces of gold annually.

The recent announcement regarding Karator’s Mineral Resource Estimate serves to further strengthen the already robust fundamentals of the Tulkubash project. The development of Karator as a satellite operation, following the same mining and processing methodology as Tulkubash, is expected to contribute significantly to the overall economics of the project. Importantly, this strategy also helps mitigate technical and execution risks, ensuring Chaarat’s continued success in the sector.

An FAQ section based on the main topics and information presented in the article:

Q: What is Chaarat’s Karator prospect?
A: The Karator prospect is located in Kyrgyzstan, approximately 2 kilometers away from Chaarat’s Tulkubash gold project. It is a gold resource with an estimated quantity of approximately 207,000 ounces and a grade of 0.96 grams per tonne.

Q: Is there potential for further gold material at Karator?
A: Yes, there is potential for 5-10 million tonnes of oxide gold material at Karator with grades ranging from 0.8 to 0.9 grams per tonne. However, further exploration, resource definition, and upgrade are required to confirm this potential.

Q: How does Chaarat plan to extend the life of the Tulkubash Mine?
A: Chaarat intends to utilize production from Karator, along with other satellite deposits, to extend the life of the Tulkubash Mine. By incorporating these additional resources, Chaarat aims to push the mine’s projected lifespan from six years to their ultimate target of 10-15 years.

Q: What are the next steps for the Karator project?
A: The next steps for the Karator project include conducting additional systematic step-out and infill drilling to advance and expand upon the initial resource estimate. Additionally, an extensive technical assessment will be conducted, encompassing various field activities such as metallurgical, geotechnical, and hydrogeological testing.

Q: When is the construction of the Tulkubash Gold Project expected to begin?
A: The construction of the Tulkubash Gold Project is expected to commence in the first half of 2024, subject to financing.

Q: How much gold is expected to be yielded by the Tulkubash Gold Mine annually?
A: The Tulkubash Gold Mine is expected to yield approximately 95,000 ounces of gold annually.

Definitions for key terms or jargon used within the article:

– Mineral Resource Estimate (MRE): It is an estimate of the quantity, grade, and continuity of a mineral deposit, based on geological evidence and limited sampling.
– Oxide gold material: It refers to gold deposits that are associated with oxidized rocks or minerals.
– Resource definition: The process of determining the size, distribution, and characteristics of a mineral resource.
– Upgrade: The process of improving the accuracy or confidence level of a mineral resource estimate by incorporating new data or conducting additional studies.
– Feasibility Study (FS): A comprehensive study that assesses the technical, economic, and legal viability of a mining project.
– JORC compliant Reserves: JORC (Joint Ore Reserves Committee) is an Australasian code for reporting exploration results, mineral resources, and ore reserves. JORC compliant reserves refer to mineral reserves that follow the guidelines set by the JORC code.

Suggested related links to main domain:

Chaarat official website
Investor Relations
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