Following a recent change of government in the former Soviet republic of Tajikistan, Gulf International Minerals (VSE) has confirmed its joint-venture agreements on several properties.
Gulf can earn a 49% interest in the northern regions of Kansai, Aprelevka and Burgunda by supervising mining and exploration and by providing the necessary equipment and technical support.
The Aprelevka gold-silver open-pit deposit hosts estimated reserves at 3.9 million tonnes grading 3.6 grams gold-equivalent per tonne. It remains open along strike, and Gulf believes the potential exists to increase both the reserves and the grade.
Based on a 600-tonne-per-day milling rate, Aprelevka has a mine life of 20 years.
Since May, 1993, Gulf personnel have been providing assistance to the nearby Kansai mill, increasing gold recoveries to 95%. The company feels the 600-tonne-per-day flotation mill can eventually be upgraded to 1,200 tonnes. In December, 1993, Gulf milled 2,500 tonnes from a composite of nine gold deposits and recovered 629 dry tonnes of concentrate, which were shipped to the Kosaka smelter in Japan for a return of US$1.8 million.
In the Burgunda region, an outlined polymetallic deposit contains a drill indicated reserve of 836,000 tonnes averaging 8.7 grams gold and 0.5% copper.
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