Initial drill results from the Varvarinskoye gold-copper-silver deposit in northern Kazakhstan are confirming previous resource estimates.
Kazakhstan Minerals (CDN) is attempting to confirm in situ resources on four zones with a total indicated resource of 6.5 million tonnes grading 1.2% copper, 3 grams gold and 3 grams silver per tonne. The zones are potentially minable by open-pit methods.
The mineralization continues at depth for a total in situ resource of 19 million tonnes grading 0.7% copper, 3 grams gold and 3 grams silver.
Three rigs are operating on the site, having thus far drilled 4,300 metres in 30 holes as part of a planned 6,920-metre program.
Check assays from local Kazakh and Western laboratories are giving the company a high level of confidence in the validity of the past results.
Metallurgical studies are also returning positive results, indicating recoveries of 98% for precious metals and 97% for copper to a single concentrate.
Kazakhstan Minerals, which holds a 49% joint-venture interest in the project, expects to complete a prefeasibility study by the third quarter of 1996, leading to a full feasibility in early 1997.
To maintain its interest, the company must complete a feasibility and arrange financing.
Varvarinskoye is one of seven advanced gold-copper exploration projects being explored by Kazakhstan Minerals in that former Soviet republic.
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