Nordgold Geologists Receive MINEX Prospector of the Year Award
Nord Gold N.V, an international gold producer (hereinafter Nordgold or Company, LSE: NORD), won the MINEX Prospector of the Year Award for its achievements in prospecting.
In 2011 and 2012, Nordgold geologists led by Vladimir Shvetsov prospected Gross gold deposit in Sakha (Yakutia) Republic discovered in 2008. During this period they completed the majority of exploration work, the feasibility study and the design of the new Bissa mine in Burkina Faso. Nordgold is currently running large-scale prospecting projects in Russia (Uryakh, Nerchinsk, and Vysokiy) and at several promising sites in Burkina Faso and Guinea. The Company also actively explores areas around its eight producing mines.
In 2011 and 2012, Nordgold geologists increased JORC and CIM proven and probable gold reserves by 54 % to 12.7 million oz (394 tonnes). Combined amount of mineral resources increased to 29.5 million oz (917 tonnes), an increase of 30% from June 2011 estimate (22.7 million ounces). The amount of measured and indicated resources increased by 39 % to 16.7 million ounces. Inferred resources increased by 20 % to 12.7 million ounces.
Nordgold's geological authority deployed several innovative management and information technologies. For example, 2011 and 2012 saw the deployment of an ore stream quality management system based on Microsoft SQL technology. This system allows monitoring extraction efficiency from mine planning to ore delivery to the plant.
Geological and Information Support Group, a Unified Nordgold Competence Center, is in charge of extraction efficiency monitoring.
Vladimir Shvetsov has been the head of Nordgold's Geological Directorate since it was established in 2007. Mr. Shvetsov is a veteran of mining industry with more than 37 years of experience in Russia and West Africa.
The Russian Mining Excellence Award was established by MINEX Russian Forum in 2007. Award winners are selected in an open and secret ballot by representatives of the nationwide mining community. Award nominees include both Russian and international companies and managers.