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Chaarat reports 46% increase in measured, indicated gold resources at Tulkubash


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Chaarat reports 46% increase in measured, indicated gold resources at Tulkubash

An updated resource estimate for the Tulkubash deposit at Chaarat Gold Holdings Ltd.'s preproduction-stage Chaarat property in the Kyrgyz Republic increased contained gold in the measured and indicated categories by 46% to 1.4 million ounces.

The company said Sept. 4 that the average grade of the measured and indicated mineralization also increased by 57% to 1.35 g/t of gold, while the overall resource boundary was extended by 47% to a total strike length of 3.2 kilometers.

In addition to measured and indicated resources of 32.7 million tonnes at 1.35 g/t of gold, the Tulkubash deposit also hosts inferred resources of 4.6 million tonnes grading 0.62 g/t of gold for 91,000 ounces.

The interim estimate used a cutoff grade of 0.30 g/t of gold and included available data from 63 diamond drillholes totaling 10,525 meters completed since the last resource update, as well as an updated geologic model.

"In addition to the updated resource model, the company also now has an updated recovery model, relating measured metallurgical recoveries from various zones of the Tulkubash deposit to geological characteristics, principally the amount of oxide mineralization in the ore," said Dorian Nicol, the company's technical director and head of exploration.

Chaarat Gold aims to complete about 30,000 meters of diamond drilling at Tulkubash in 2018, with an updated reserves estimate anticipated in October and another resource update planned for early in the first quarter of 2019.