Chaarat Gold

Full Chaarat Gold profile here

Chaarat is an exploration and development company operating in the Kyrgyz Republic with its current main activity being the development of the Chaarat Gold Project. The Chaarat Gold Project is situated within the Middle Tien Shan Mountains of Kyrgyzstan which form part of the Tien Shan gold belt. The Company has thus far delineated a JORC compliant mineral resource of 4.009 Moz at a grade of 4.14 g/t gold. A scoping study demonstrating the economic viability of the Chaarat Gold Project was completed at the end of 2008. The Company is currently in the process of compiling a pre-feasibility study. Chaarat's objective is to become a low cost gold producer targeting an initial production of over 200,000 ounces per annum by early 2013.

Chaarat Gold says drill results confirm thickness and mineralisation grade at Contact Zone in Kyrgyzstan

Wednesday, February 10, 2010
company news image

Chaarat Gold Holdings (AIM: CGH) said results from two drives and eight drill holes in the underground section of project area C5300 at the Contact Zone in Kyrgyzstan were encouraging with grades reaching 7 g/t (grammes per tonne) of gold.

The highlights of the drilling included intersections of 8.94 metres at 4.06 g/t gold, 21 metres at 3.72 g/t gold, 18 metres at 3.66 g/t gold, 9 metres at 7 g/t gold, 15.83 metres at 4.03 g/t gold, 6.50 metres at 5.97 g/t gold and 7.84 metres at 5.37 g/t gold.

The Contact Zone, which is one of three parallel zones of gold mineralisation on the Chaarat license area, has been delineated over a strike length of 1,340 metres and is host to a JORC compliant resource of 1.42 Moz (million ounces) grading 4.21 g/t gold, representing approximately 43% of the overall resource of the Chaarat Gold Property of 3.34 Moz at a grade of 4.30 g/t gold. Another mineralisation on the property, the Main Zone, hosts a JORC compliant resource of approximately 1.5 million ounces (Moz) at a grade of 4.31 grams per tonne gold, over a strike length of four kilometres.

Proactiveinvestors recommends

The C5300 project area is the northernmost of the three projects along the Contact Zone ore body. The resource for the C5300 project at the end of 2008 has been calculated at 1.01 million ounces at an average grade of 4.27 g/t to a drill defined depth of up to 520m below surface.

The company said the results demonstrated the continuity of the thickness and grade of mineralisation between the C5300 area and the other two projects in the Contact Zone along strike to the south.

"These results are additional evidence of  management's view  that the  Contact Zone  represents a  large viable mining target  and will  form part  of the  revised resource  statement, which  will be released  later  this  quarter. The C5300 Project Area demonstrates excellent continuity and persistent wide intersections that will allow the company to pursue, with increased confidence, its intention to establish a low cost bulk mining operation on these wide zones of mineralisation,” said chief executive of Chaarat Dekel Golan.

Shares in the company rose 5.2% on the news.


Register here to be notified of future Chaarat Gold articles.

Investors interested in Chaarat Gold recently viewed

Additional Information

Market:AIM
Sector:General Mining - Gold
EPIC:CGH
Latest Price: 39.00p  (4.70% Ascending)
52-week High:60.50p
52-week Low:20.25p
Market Cap:50.09M

1 year chart

digital-look imported chart image

1 day chart

digital-look imported chart image

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.