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Chaarat hitting new high grade gold in drilling at Tulkubash

Encouraging exploration results are adding to the upside at Tulkubash

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There is already more than a million ounces of gold delineated at Tulkubash

Chaarat Gold Holdings Ltd (LON:CGH) has to date drilled approximately 6,000 metres of the planned 30,000 metre 2018 drilling programme. 

Eight drill rigs are currently in operation on site at Tulkubash in Kyrgyzstan.

READ: Chaarat Gold has ambitious plans to become a major regional player in Central Asia

Already, the company has confirmed that gold mineralisation continues further along strike northeast of the existing one million ounce resource.

What’s more, current drilling has demonstrated that grades appear to increase along strike to the northeast of the current resource.

Among the better intercepts are 15 metres at 1.32 grammes per tonne gold from a depth of 6 metres, 5.6 metres at 1.06 grams from 109.5 metres, and 5.6 metres at 1.01 grams from of 62 metres.

"We continue to receive very encouraging results from our ongoing exploration programme at Tulkubash,” said Dusty Nicol, chair of the company's technical committee.

“Since our last exploration update, we have demonstrated further along-strike extension of oxide gold mineralisation to the northeast of the currently defined resource, have demonstrated that the gold grade appears to be increasing in this direction, and have also identified new, shallow mineralisation within the current pit outline. Progress of drill road construction is allowing the drill rigs now to advance into Segment V, which we consider our highest priority target area with the greatest likelihood of quickly demonstrating significant tonnages of new oxide gold mineralisation.”

 

Quick facts: Chaarat Gold Holdings Ltd

Price: 25.1 GBX

AIM:CGH
Market: AIM
Market Cap: £118.01 m
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