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 December 2016 has defined a 7Moz deposit within two mineralised zones:
- The Tulkubash oxide resources (912koz: 20.9Mt at 1.35g/t) are suitable for recovery through a low cost heap leach development. Exploration throughout 2017 has focused on extending the Tulkubash resources. A feasibility study for an oxide heap leach plant is due for completion in Q1 2018.
- The Kyzyltash sulphide resources (6,131koz: 62.1Mt at 3.07g/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. This includes 17,000m of drilling in 2017 which will form the basis of a Tulkubash resource update due for completion in January 2018.