Chaarat Gold is an AIM-quoted gold mining Company with development projects in the Kyrgyz Republic.
Chaarat Gold Holdings Limited is an AIM-quoted gold mining company with development projects located within the prolific Tien Shan Gold Belt, in the North West of the Kyrgyz Republic. The Kyrgyz Republic is an established mining jurisdiction with the mining industry being a key contributor to the economy.
Chaarat has two high quality assets in the region being the Tulkubash oxide deposit and the Kyzyltash sulphide deposit with total combined mineral resources of ~6,400,000 ounces Au. These assets provide opportunity for synergies as they are located on the same licence.
The Company’s near-term focus is the construction of the Tulkubash open pit heap leach mine (Stage 1) with significant recent progress achieved on advancing the project to Final Investment Decision. Tulkubash provides the Company with a clear path to production with target production of 95,000 ounces Au per annum.
Tulkubash has shown outstanding resource and grade growth, with a Bankable Feasibility Study (“BFS”) completed in 2021. On completion of the 2021 drilling programme an updated Ore Reserve Estimate and Mineral Resource Statement was completed in May 2022. Ore Reserves have increased 13% to 647,000 ounces compared to 571,000 in the BFS and total resources are 1,011,000 ounces. The project has a long-run production target of 95,000oz Au per year.
Kyzyltash (Stage 2) provides substantial long-term potential, with a technical review conducted in 2018 confirming the low-cost large resource potential of the project. Kyzyltash has a substantial resource base of ~5,400,000 ounces with target production of 300,000 ounces Au per annum.
In addition to its projects in the Kyrgyz Republic, Chaarat continues to actively pursue a disciplined growth agenda through its organic growth and selective M&A.
The Company consistently applies international Environmental and Social Standards to its operations where achieving and maintaining zero harm is a key part of Chaarat’s culture. Chaarat operates a strict Health & Safety management system at all its sites and promotes a shared responsibility for health and safety with its workforce. Chaarat aims to be Biodiversity Positive and invests in tangible biodiversity conservation projects ; we also accrue funds for post closure activities to restore the territory of the exploited mines to natural conditions.
We recruit locally and we invest in the social infrastructure of our areas of operation with due respect for the socio-economic vocation of the territories.