(MENAFN- ProactiveInvestors)
() has identified four new mineralised zones including small particles of visible gold at the high grade Aucu gold deposit at its Chanach project in the Kyrgyz Republic.
Promisingly rock samples from the main zone were crushed and panned with two samples yielding small particles of visible gold.
The ongoing exploration should see an increase in the level of ounces of gold in the resource base.
In March the company estimated a maiden JORC 2012 Inferred Resource of 1.15 million tonnes at 4.2 grams per tonne for 156000 ounces of contained gold at the Aucu deposit.
The company has now started a ground magnetic survey and expects to start in August drilling to test the deposit to depths of up to 200 vertical metres.
Substantial growth potential was confirmed with the resource remaining open along strike and at depth.
Todd Hibberd managing director commented:
“The new mineralised zones identified provide great encouragement that the mineralisation extends over significant distances and as several distinct structures.
“We hope to extend the grade and width of the high grade mineralisation identified last year to adjacent hills which will provide a significant increase to the initial resource of 156000 ounces identified last year.”
New Mineralised Zones
Several new mineralised structures have been exposed in recent bulldozer road cuttings.
The zones comprise of a central 12 metre wide shear zone flanked by a 7 metre wide subsidiary structure and a two metre wide structure.
An additional two metre wide structure was also identified South of the Aucu Deposit.
Channel samples have been collected across the zones and assay results will be available in late July.
Several promising rock samples from the main zone were crushed and panned with two samples yielding small particles of visible gold.
The mineralised zones are orientated NW-SE (320 degrees) and occur 600 metres east of the upper gold zone (UGZ). It is too early to determine if these zones are part of the upper gold zone but if so would increase the length of the UGZ to over 1000 metres.
The bulldozer is currently cutting additional roads to expose the mineralised structures in both the lower gold zone (LGZ) and the upper gold zone (UGZ) along strike mainly to the east.
Magnetic Survey
Preliminary survey data has been collected over the main mineralised zones and has identified detailed structures that will improve drill targeting.
The survey covers approximately 15 square kilometres and has successfully identified extensions to both the UGZ and LGZ as well as a new mineralised zone further south.
The southern gold zone (SGZ) has been trenched and samples collected. Rock samples for the surface of this zone have been crushed and panned on site and contain small particles of visible gold.
Completion of the magnetic survey and integration of the geological data into a single 3D model will assist finalising the location of this year’s RC and diamond drilling positions.
Analysis
; new mineralised zones have the potential to extend mineralisation at its Aucu deposit over significant distances and as several distinct structures.
The company has a news flow pipeline with further assay results from channel sampling.
In addition more sampling and assays could come as the bulldozer exposes more ore zones.
A magnetic survey is now underway with drilling to start in August 2015. This targets a doubling in the current Resource of 1.15 million tonnes at 4.2 grams per tonne for 156000 ounces of contained gold.
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