Alhambra Resources (ALH-V) has boosted measured and indicated resources at its Uzboy deposit in north central Kazakhstan to more than 1 million oz. gold.
Up 19% from a December 2006 estimate, the latest tally is contained in 30.93 million tonnes grading 1.07 grams gold per tonne, using a cut-of grade of 0.2 gram gold per tonne.
Inferred resources are down 7% to 18.7 million tonnes grading 0.82 gram gold per tonne containing 492,000 oz. gold.
In 2007, Alhambra completed more than 15,000 metres of diamond drilling, 23,000 metres of KGK drilling, 50,000 metres of reverse air blast drilling and 65,000 cubic metres of trenching as well as a small test geophysical program.
Gold mineralization in the west zone of the deposit now extends 950 metres and to a depth of 500 meters below surface. On the east zone, mineralization stretches along 900 metres reaching depths between 250 metres and 350 metres.
The measured and indicated resources are divided into oxide, transitional and sulphide sections. Of the total 1.06 million oz. gold, about 145,000 oz. are in the oxide ore, 85,000 oz. are in the transitional ore and 839,000 oz. gold are contained within the sulphide ore.
A scoping study has been started to test the viability of mining the sulphide mineralization.
Alhambra first began exploring the project in 2002 and by the end of 2004 the company started a test heap leach operation using the oxide portion of the deposit, with commercial production beginning in May 2006.
At last count, the oxide portion had reserves totaling 36,700 oz. gold but Alhambra is currently in the process of updating it. The company produced almost 21,000 oz. gold in 2007 and 19,000 oz. gold in 2006.
Alhambra shares held still in Toronto today at 1.08 per share on a trading volume of 3,000 shares.
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