Chaarat Gold Project
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Chaarat is in the process of adding value to the Chaarat Gold Project by preparing a definitive feasibility study (DFS), making progress on obtaining the related permits, progressing infrastructure and continuing our discussions with strategic partners. The completion of a robust DFS will substantiate the value and potential of the Chaarat deposit.
A programme of approximately 15,000 metres of infill drilling will be designed and executed during the 2013 season, with data collection for the DFS taking place at the same time, both of which are expected to be completed by the end of 2013.
Mac DeGuire, a non-executive director of Chaarat and one of the industry’s most respected names, will advise the Board and assist the management team, led by Chief Operating Officer David McNee, in ensuring a DFS is prepared and completed on schedule and to the highest standards.
During 2013, Chaarat will conduct an aggressive infill drilling campaign to increase resource and convert inferred resource to the measured and indicated categories. Particular focus will be given to increasing the open pittable resource to support a large scale mining operation which will operate for the initial few years of the mine life.
In parallel work during the season will be carried out to bring the level of knowledge to the standard required for the DFS in the following areas:
- Design and permitting of a mine waste disposal site
- In depth geotechnical investigations to derive appropriate design parameters for both open pit and underground mine design to feasibility study level
- Metallurgical test work programme to derive appropriate parameters for process plant design and estimates of metallurgical recovery for mine optimisation and economic analyses
- Additional hydrogeological work
- Design of the Tailings Management Facility
- Completion of the Environmental and Social Impact Assessment (ESIA) study to meet both local and IFC standards. The supervision and support for this work was commissioned from AMEC in 2012 and will be expanded to meet the broader requirements of the DFS.
The investigation work outlined above will begin in May 2013 with the award of the DFS contract expected in the third quarter of 2013. A timetable will be agreed for completion of the DFS with the successful contractor.
Work will continue on improving infrastructure as follows:
- Completion of permitting of the power line connection to the grid including the conduct of the relevant ESIA study
- Securing of land allocation
- Signing a supply contract with the national electricity company based on the previous quota allocation agreement of 25 MW
- Completion of the design, permitting and land allocation of the new section of the access road which will greatly improve access to site
- Permitting and preparing the permanent camp site
