Ovoca Gold (LON:OVG) is to prepare an updated resource estimate for its Stakhanovskiy project by the end of the year.
It came as the firm updated investors on ongoing work at the Stakhanovskiy and Rassoshinskaya projects in the Russian Far East.
Chief executive Kirill Golovanov said July had seen significant work achieved by Ovoca.
"Now that blasting is completed for bulk sampling, diamond core drilling has started at the Stakhanovskiy project with Wardell Armstrong International consultants working with us to prepare an updated resource estimate by the end of this year."
"At the Rassoshinskaya Project, field work was focused during the month on our new prospect, Bazaar, with trenching and diamond drilling exposing a significant extensive high sulphidation alteration pyrite-rich system.
"The first assays should be received soon.
"At the Agromniy Prospect, a trench exposed a 250m long quartz vein containing lead and silver with very high gold and silver assays from surface float samples (previously announced in the 2011 annual report).
"More trenching is planned to test the widths along this strike length. With the current targets at Bazaar and Agromniy, and a further porphyry copper-gold target to test at the Vist Prospect, exploration success for this field season may be achieved".
On the padgorniy prospect at Rassoshinskaya, three holes were sunk and highlights included 1.2 metres at 10.40 g/t gold and 101.00 g/t silver from a depth of 26 metres, the firm said.
Stakhanovsky covers 72 sq km and already has a permit to mine.