Chaarat Gold Holdings Ltd (AIM:CGH) has completed its 2021 drilling programme at the Tulkubash gold project in Kyrgyzstan.
The Tulkubash project presently hosts JORC compliant probable reserves of 571,000 ounces og gold and measured, indicated and inferred resources of 1.18mln ounces.
The infill drilling programme targeted the inferred and unclassified areas in the Central Pit and Tulkubash east area.
The drill holes intersected consistent oxide gold intercepts as expected. The current resource estimate will be updated to include the results of the 2021 exploration programme.
The exploration drilling campaign has also confirmed two previously identified potential zones of gold mineralisation at Karator and Ishakuldy, located two kilometres and six kilometres to the northeast of the Tulkubash east area respectively.
Among the highlights from the Central Pit zone was an intercept of 16.5 metres grading 2.04 grams per tonne.
At the Tulkubash east area, the company hit six metres of 6.58 grams per tonne, while at Karator it hit 60 metres of 1.32 grams gold.
"The confirmation of gold grades in the infill drill holes in the Central Pit and east area is very positive and supports an update of the Resource estimate for the Tulkubash ore body,” said Dimitar Dimitrov, senior vice president geology at Chaarat.
“The successfully outlined Karator and Ishakuldy zones are confirmation of the extensive geological potential of Chaarat's licence area and the broader district for further Tulkubash and Kyzyltash style deposits."
Separately, Chaarat also revealed that Chris Eger, chief financial officer, will be leaving the business on 30 November 2021 to pursue other opportunities.
Eger leaves with the board's appreciation and thanks for the role he has played in the development of Chaarat over the last three years.