The Chaarat Gold Project is located in the Sandalash River Valley in the north-west of the Kyrgyz Republic. The area is part of the Tien Shan Gold Belt which hosts numerous major world-class gold deposits including the 175Moz Muruntau deposit and the 18Moz Kumtor deposit
Exploration up to 31 January 2018 has defined a 6.4Moz deposit within two mineralised zones:
- The Tulkubash oxide resources (1,054koz: 39.0Mt at 0.84g/t) are suitable for recovery through a low cost heap leach development. A feasibility study for an oxide heap leach plant is due for completion in Q1 2018.
- The Kyzyltash sulphide resources (5,377koz: 46.1Mt at 3.75g/t) are high grade and refractory in nature. Kyzyltash will be developed after the Tulkubash heap leach.
The mineralised zones can be traced through geological mapping and surface sampling along a 6km trend contained within the existing Chaarat mining licence. Following a cross fault, they extend further along strike into the 15km East Chaarat exploration licence.
Oxide exploration to date has focused on the initial 2km in the southern portion of the Tulkubash zone. Ongoing exploration in 2018 will focus on further extending the Tulkubash resources.