Proactive Investors - Run By Investors For Investors

Chaarat books first results from extensive drilling programme at Tulkubash gold project

The aim is to push the JORC resource past two million ounces
Chaarat books first results from extensive drilling programme at Tulkubash gold project
Tulkubash is emerging as a significant gold district

Chaarat Gold Holdings Ltd (LON:CGH) shares rose on Tuesday following news the firm has received assays for the first tranche of the recent drilling programme conducted on its Tulkubash gold project in Kyrgyzstan.

Over 3,800 metres of drilling was completed, with a minimum of 20,000 metres scheduled to be completed in 2019.

READ: Chaarat Gold Holdings improves economics for Tulkubash project

Among the highlights was 15.5 metres true width grading 2.2 grams per tonne gold.

The objective of the ongoing drilling is to push the resource at Tulkubas past two million ounces of gold in measured and indicated JORC resource categories.

The work will also help improve the project economics within currently defined pits by adding ore within existing pit shells, reducing the strip ratio, and optimizing metallurgical recovery model

"We are very excited to have begun the exploration and drilling season at Tulkubash,” said Dusty Nicol, Senior Vice President Exploration.

“Last year's programme discovered 650,000 ounces of gold in measured and indicated resource categories at a discovery cost of US$11.40 per ounce. We have every reason to expect similar or greater rates of success with this year's programme.”

In midday trading, shares in Chaarat Gold were 2.4% higher at 30.40p.

 -- Adds share price --

View full CGH profile View Profile

Chaarat Gold Holdings Ltd Timeline

Related Articles

A gold pour
February 19 2019
At the Santana project, the group s now awaiting final permit approval for commercial operations
The red earth of the Pilbara
Mon
Pacton says its multiple leases mean it has a fast-track route to trial mining of surface material
1517846055_Cradle-Mine.jpg
September 17 2018
Cradle Arc is ramping up copper production at its Mowana project, and further expansion is on the cards

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use