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.
As at December 31, 2015, the Uryakh’s Measured&Indicated resources were estimated at 1.4 Moz of gold at 3.8 g/t.
Inferred Open Pit resources were at 21 koz of gold at 2.13 g/t.
Inferred Underground resources were at 308 koz of gold at 3.86 g/t.
Silver Mineral Resources for the Uryakh project were 2.6 Moz as at December 31, 2015.