15.6 C
Supported byspot_img

Scoping study demonstrates positive economics for Kyrgyzstan gold project

Member of Europium Groupspot_img
Supported byspot_img

A scoping study on Aim-listed Highland Gold’s Unkurtash project, in Kyrgyzstan, has demonstrated positive economics.

The study, which was compiled by SRK, estimates some $322-million in capital expenditure will be require to build the mine, which is estimated to produce some 133 000 oz/y of gold over an 18-year mine life. The mine plan envisions mining from two openpits.

Highland Gold acquired Unkurtash from Barrick Gold in 2006 and has since spent $38-million on extensive exploration of the site.

Supported by

The Unkurtash licence area covers three well-explored deposits – Unkurtash, Karatube and Sarytube – with a previously published Joint Ore Reserves Committee-compliant mineral resources of 3.5-million ounces of gold at 1.82 g/t.

Operating costs at the project, which is situated in an area that already features operating mines and has access to paved roads, power and water supply, is estimated to be about $616/oz.

Highland Gold is considering various alternatives for proceeding with the project, including partnering with a strategic investor to codevelop the mine.

Source: miningweekly

Supported byElevatePR Digital

Related News

EU-Canada alliance in Critical Raw Materials, innovation, and sustainability at PDAC 2024

The EU delegation will be led by the top EU official Mrs Kerstin Jorna, the European Commission's Director General for Internal Market, Industry, Entrepreneurship and...

Tara Resources disputes a governmental ruling in Montenegro, putting forth arguments supported by evidence

The arguments proposed by the working group for terminating the concession agreement that the state has with the company Brskovo Mine are factually inaccurate, do not...

Teako Minerals announces strategic pivot with Norway as key focus

TEAKO MINERALS CORP. (the "Company" or "Teako") announces that following a recent Norwegian parliament meeting and the various developments in mineral exploration in Fennoscandia...

Raiden Resources advances exploration projects in Pilbara, Australia, and Bulgaria

Raiden Resources Limited has made significant strides in its exploration projects, both in Pilbara, Australia, and Bulgaria, heralding a potentially fruitful future in mineral...
Supported by
Supported by
Supported by
error: Content is protected !!