Fri. Feb 23rd, 2024
Chaarat Discovers New Gold Deposit in Kyrgyzstan

Chaarat, a mining company, has recently unveiled a significant discovery in Kyrgyzstan. The company has published a maiden Mineral Resource Estimate (MRE) for its Karator prospect, located just 2km away from its advanced asset, the Tulkubash gold project.

The Karator deposit boasts an impressive 207,000 ounces of gold at a grade of 0.96 grams per ton. Moreover, there is the potential for an additional 5-10 million tons of oxide gold material at a grade of 0.8-0.9 grams per ton, pending further exploration and resource definition.

Chaarat plans to incorporate the production from Karator, along with other satellite deposits, to extend the life of its Tulkubash mine. Currently projected to last for six years, the mine’s lifespan could be expanded to 10-15 years with the integration of Karator’s resources.

To advance and expand on the maiden resource at Karator, the company aims to carry out systematic step-out and infill drilling. Additionally, a comprehensive technical assessment will be undertaken, including field activities such as metallurgical, geotechnical, and hydrogeological test works. This assessment will contribute to the development of a further Feasibility Study (FS) report, confirming JORC compliant Reserves.

David Mackenzie, the CFO of Chaarat, expressed his enthusiasm for the project, stating that the Tulkubash Gold Project is the most advanced in their portfolio and is on track to commence construction in the first half of 2024, subject to financing. The addition of Karator as a satellite operation will significantly enhance the economic viability of the project while minimizing technical and execution risks for Chaarat.

This discovery reinforces Chaarat’s position as a prominent player in the gold mining industry and has the potential to further propel the company’s success in the coming years.

FAQ:

1. What significant discovery has Chaarat unveiled in Kyrgyzstan?
– Chaarat has unveiled a significant discovery at its Karator prospect, which is located 2km away from its advanced asset, the Tulkubash gold project.

2. What is the maiden Mineral Resource Estimate (MRE) for the Karator deposit?
– The Karator deposit has a maiden Mineral Resource Estimate of 207,000 ounces of gold at a grade of 0.96 grams per ton.

3. Is there potential for additional gold material at the Karator deposit?
– Yes, there is potential for an additional 5-10 million tons of oxide gold material at a grade of 0.8-0.9 grams per ton, pending further exploration and resource definition.

4. How does Chaarat plan to incorporate the production from Karator?
– Chaarat plans to incorporate the production from Karator, along with other satellite deposits, to extend the life of its Tulkubash mine.

5. How long is the Tulkubash mine currently projected to last?
– The Tulkubash mine is currently projected to last for six years.

6. How long could the mine’s lifespan be expanded to with the integration of Karator’s resources?
– The mine’s lifespan could be expanded to 10-15 years with the integration of Karator’s resources.

7. What steps will Chaarat take to advance and expand on the maiden resource at Karator?
– Chaarat aims to carry out systematic step-out and infill drilling at Karator. Additionally, a comprehensive technical assessment including metallurgical, geotechnical, and hydrogeological test works will be undertaken.

8. What will the technical assessment at Karator contribute to?
– The technical assessment will contribute to the development of a further Feasibility Study (FS) report, confirming JORC compliant Reserves.

9. When is the Tulkubash Gold Project expected to commence construction?
– The Tulkubash Gold Project is expected to commence construction in the first half of 2024, subject to financing.

10. How will the addition of Karator enhance the economic viability of the Tulkubash Gold Project?
– The addition of Karator as a satellite operation will significantly enhance the economic viability of the Tulkubash Gold Project while minimizing technical and execution risks for Chaarat.

Key Terms:
– Mineral Resource Estimate (MRE): An estimation of the mineral resources present in a given area, including the quantity and grade of valuable minerals.
– Oxide gold material: Gold material that has undergone oxidation, typically found near the surface.
– Feasibility Study (FS): A comprehensive study conducted to determine if a project or venture is economically viable and technically feasible.
– JORC compliant Reserves: Reserves classification in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code).

Related Links:
Chaarat Official Website