An independent audit by Roscoe Postle Associates has seen resources contained in the Berezitovoye gold deposit in southern Siberia change little under Canadian Institute of Mining and Metallurgy standards.
Completed as part of High River Gold‘s (HRG-T) due diligence at Berezitovoye, the audit pegs indicated resources at 14 million tonnes grading 2.52 grams gold and 12.7 grams silver per tonne, or 1.1 million ounces of contained gold and 5.7 million ounces of contained silver. Another 310,000 tonnes running 2.12 grams gold and 10.54 grams silver are categorized as inferred resources. Both estimates employ a cutoff grade of 0.9 gram gold.
Under Russian standards, Berezitovoye’s near-surface resource was previously estimated at 14.1 million tonnes grading 3.05 grams gold and 14.3 grams silver per tonne, plus 0.93% zinc and 0.57% lead, based on a cutoff grade of 1 gram gold per tonne.
By comparison, when a cutoff grade of 1 gram gold is applied to the new estimate, total indicated resources come to 13.5 million tonnes of 2.58 grams gold and 12.8 grams silver.
The new estimate includes the results of a 25-hole infill-drilling program completed this summer. The drilling tested the North, Central and South zones, and returned between 2 and 5 grams gold and 10-20 grams silver per tonne over widths of 10-100 metres. Data from the holes will also be used to complete an ongoing feasibility study.
Micon International is currently preparing an optimized pit based on the new resource estimate and mine operating cost s. The project will be developed as a joint venture between High River and Buryatzoloto, with Buryatzoloto acting as operator.
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