Location and Description of the Project
Uryakh is an advanced exploration project located in the Irkutsk region of Russia, 60 km from the Baikal-Amur Mainline railway.
The Uryakh gold licence lies in the ‘Lenskaya gold-bearing province’ of the northern Baikal mineralised belt.
The 2008-2014 exploration comprised air and ground based geophysical surveys, geochemical prospecting, drilling, trenching and geological mapping. Positive metallurgical results were obtained from preliminary and limited testwork data. Exploration results imply the potential for a large-scale open-pit and/or underground mineable resource.
A contract has been signed with SRK Denver to complete a pre-feasibility study for Uryakh that is expected to be delivered in Q4 2018.
As the current mineable Resources look insufficient for a standalone mine, an additional exploration programme is planned for 2019 to expand the potential Uryakh resource base.
Mineral Resources Summary (31 December 2017)
| Category | Ore (Kt) | Grade (g/t) | Au (Koz) |
|---|---|---|---|
| Indicated Open Pit | 3,058 | 4.07 | 400 |
| Indicated Underground | 8,712 | 3.71 | 1,039 |
| MEASURED+INDICATED | 11,770 | 3.80 | 1,439 |
| Inferred Open Pit | 304 | 2.13 | 21 |
| Inferred Underground | 2,483 | 3.86 | 308 |
| TOTAL (M+I+I) | 14,557 | 3.78 | 1,768 |
For more information, please see Mineral Resources and Ore Reserves Press Release