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21/09/2011

Chaarat Gold CEO says there's lots of potential for shareholders in the stock

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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: CGH
Latest Price: 32.63p  (-0.37% Descending)
52-week High: 56.00p
52-week Low: 20.00p
Market Cap: 81.73M
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Chaarat Gold
www.chaarat.com

Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic.  The Company’s main activity is the development of the Kiziltash and Tulkubash projects situated within the Middle Tien Shan Mountains of Kyrgyzstan, which form part of the Tien Shan gold belt.  The Company has delineated a JORC compliant mineral resource of 4.406Moz at a grade of 4.20g/t gold across both projects. Chaarat's key objective is to become a low cost gold producer; with initial production from the Tulkubash project, targeting annual production of over 200,000 ounces per annum as the Kiziltash project comes on stream.

Full Chaarat Gold profile here
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Chaarat Gold’s Tulkubash project on target to start production in 2013

7th Dec 2011, 7:29 am by Jon Mainwaring The gold resource at Tulkubash has been increased to 501,000 ounces

Kyrgyzstan-focused Chaarat Gold (LON:CGH) reported this morning that its Tulkubash project is on target for production in 2013 and that its gold resource there has been increased by 56 per cent to 501,000 ounces at 2.92 grams per tonne.

Chaarat, whose projects are located on the highly-prospective Tien Shan Gold Belt area of Central Asia, added that significant potential to further upgrade its resource and reserve at Tulkubash had been identified.

Chaarat said that during the 2011 exploration season work was focused on improving the resource and generating reserves from the “open pittable” section of the Central Tulkubash section of the ore body, yielding encouraging results.

According to the firm, this work helped improve its understanding of the Tulkubash project to the extent that it now believes that the resource may have the capability of supporting production at a rate of 2,500 tonnes per day.

A total of 15,413 metres of drilling generated an open pittable resource of 404,000 ounces (from a total of 501,000 ounces) at a grade of 2.92 grams per tonne. Chaarat said that further drill results to the south and north of the zone indicate that the reserve can be increased significantly.

Meanwhile, the firm is waiting on approval of to convert the Tulkubash permit to a mining permit after submitting a report that shows it has defined sufficient reserves to justify its grant.

After the grant of the mining permit, Chaarat will be required to prepare a detailed preliminary project design, and the firm is already working on this. In the absence of unforeseen delays, said Chaarat, it expects permitting will be complete in time for it to begin production in the second quarter of 2013.

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