Chaarat Gold (AIM: CGH), the AIM-quoted gold mining company, with development projects in the Kyrgyz Republic, is pleased to announce the completion of the 2023 drilling programme in the Karator oxide gold prospect.
The Karator prospect is a northeastern extension of Tulkubash project, which could potentially add significant reserves to the later years of the Tulkubash development. The Karator prospect was first drilled in 2021, which included 6 metres of 5.06g/t gold1. Tulkubash contains JORC-compliant contained gold ounces in the Ore Reserves 647koz Au and total resources of 1,011koz Au2.
The 2023 Drilling Programme included result highlights of 3.38g/t gold over 21.5 metres in DH23K625 and 1.43g/t gold over 95 metres in DH23K628, further confirming the significant exploration prospectivity of Karator oxide gold mineralisation. The completed Karator 2023 drilling programme consists of nine drill holes, totalling 1,603 meters as an initial phase of a resource definition drilling programme, which will systematically drill on 40 by 40 meters centres, over the entirety of the strike. All nine completed drill holes intersected oxide gold mineralisation, confirming Karator prospectivity for high quality additional Tulkubash oxide gold resource. Further detail can be found in the updated Resource and Reserve presentation, which is now available on the Chaarat website.
Dimitar Dimitrov, Senior Vice President Geology of Chaarat, said:
“I am very pleased to see the completed Karator drilling programme return encouraging intercepts. The intercepts confirm excellent exploration potential, as to add significant high quality oxide gold resource Tulkubash Heap Leach project, which is located only 2km to northeast.”
Table 1 Karator key drilling intercepts. *
|
DHID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
True width (m) |
|
DH23K621 |
9.0 |
52.5 |
43.5 |
0.85 |
NA |
|
67.5 |
90.0 |
22.5 |
0.81 |
NA |
|
|
DH23K622 |
17.5 |
87.5 |
70.0 |
0.65 |
35.1 |
|
DH23K625 |
84.0 |
105.5 |
21.5 |
3.38 |
10.3 |
|
138.5 |
184.0 |
25.5 |
0.98 |
12.2 |
|
|
DH23627 |
3.0 |
10.5 |
7.5 |
1.27 |
6.5 |
|
24.0 |
43.5 |
19.5 |
0.86 |
16.8 |
|
|
51.0 |
78.0 |
27.0 |
1.48 |
23.3 |
|
|
DH23K628 |
6.0 |
46.5 |
40.5 |
1.42 |
22.9 |
|
|
73.5 |
90.0 |
16.5 |
2.10 |
9.4 |
|
|
105.0 |
200.0 |
95.0 |
1.43 |
54.2 |
|
DH23K620bis |
33.0 |
57.0 |
24.0 |
1.41 |
NA |
**Appendix 1 shows all intercepts above a cut-off grade of 0.20 g/t. All drill intercepts, related maps and cross-sections can be found on the Chaarat website
Notes: No top capping applied. The generated drilling intercepts are estimated on 0.2g/t Au cut off and allowing up to 6 meters internal waste. The true width is estimated based on the ore interpretation for the most of drilling intercepts. True width calculation is not applied for intercepts with unknown strike and dip.
Karator mineralisation zone
The Karator zone is located approximately 2 km to the northeast of the Tulkubash east pit, striking southwest to northeast and steeply dipping to the southeast. The prospective zone is trenched on approximately 1,000 meters of strike, having approximately 30 to 50 meters true width and drilled to 150-250 meters depth. The prospect is open along strike to southwest and to northeast and at depth.
The mineralisation is tested by systematic trenching on surface, maiden exploration drilling in 20211. The infill drilling at 2023 is confirming the deeply oxidized nature and continuity of Karator gold mineralisation along strike and in depth.
The zone structural position of the Karator mineralisation is controlled by an extensional shear zone developed along or between the major Contact and Irisey reverse faults. In the coming years, Chaarat is planning to continue Karator assessment via further systematic step out and infill drilling, metallurgical, and geotechnical test works.
Sampling, Subsampling and Laboratories
A half HQ (occasionally quarter PQ) core was sampled on average intervals of 1.5 metres considering all clear geological breaks. FA / ICP 35 analysis were conducted by Stewart Assay and Environmental Laboratories in Kara Balta, Kyrgyzstan. In any 20 regular samples, 1 duplicate, 1 standard (reference material) and 1 blank sample were introduced. All received QA/QC results were prepared in accordance with JORC code guidelines and are meeting the international industry standards.
Competent Persons Statement
The information in this announcement that relates to exploration results is based on and fairly represents information and supporting documentation prepared by Dimitar Dimitrov, P. Geo, AIG member and a Competent Person as defined in the 2012 edition of the JORC Code ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Dimitar Dimitrov is a full-time employee of the Company. Mr. Dimitrov consents to the publication of this new release dated 23 November 2023 by Chaarat. Mr. Dimitrov certified that this news release fairly and accurately represents the information for which he is responsible.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
1 Per the announcement on 16 November 2021 “Encouraging Tulkubash 2021 Drilling Programme Results”
2 Per the 2022 annual report, which also includes details of JORC compliant ore reserves at Tulkubash, and can be found on Chaarat’s website.
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For further information visit www.chaarat.com |
