TIDMCAML
RNS Number : 6421K
Central Asia Metals PLC
12 April 2018
12 April 2018
CENTRAL ASIA METALS PLC
('CAML' or the 'Company')
Q1 2018 Operations Update
Central Asia Metals plc (AIM: CAML) today provides a Q1 2018
operations update for the Kounrad dump leach, solvent extraction
and electro-winning ('SX-EW') copper recovery plant in Kazakhstan
('Kounrad') and the Sasa zinc-lead mine in Macedonia ('Sasa').
Highlights
- Kounrad
o Q1 2018 copper production, 3,070 tonnes
- Sasa
o Q1 2018 zinc in concentrate production, 5,518 tonnes
o Q1 2018 lead in concentrate production, 7,020 tonnes
- Shuak
o Encouraging assay results
o 2018 proposed $2.5 million exploration programme
CAML production summary
Metal production Q1 2018 Q1 2017*
(tonnes)
------------------ -------- ---------
Copper 3,070 3,357
------------------ -------- ---------
Zinc 5,518 5,289
------------------ -------- ---------
Lead 7,020 7,286
------------------ -------- ---------
*Q1 2017 zinc and lead production pre-date CAML ownership
Nick Clarke, Chairman, commented:
"These production results demonstrate a good start to the year
at both Kounrad and Sasa. Taking seasonal variations in Kazakhstan
into account, both of our operations are on track to achieve 2018
production targets, which are 13,000 to 14,000 tonnes of copper
cathode, plus 21,000 to 23,000 tonnes of zinc in concentrate and
28,000 to 30,000 tonnes of lead in concentrate."
Kounrad
Kounrad Q1 2018 copper production is 3,070 tonnes. Total Kounrad
copper production since operations commenced in 2012 is now 71,496
tonnes.
The winter period was the coldest experienced in five years,
with a week in January averaging minus 38 degrees centigrade. The
Western Dumps raffinate heating system that formed part of the
Stage 2 Expansion programme worked well in its first winter of
operation, with 2,302 tonnes of copper being leached from these
dumps. This equates to 75% of total Kounrad Q1 2018 production.
Copper sales during Q1 2018 were 2,527 tonnes.
Sasa
In Q1 2018, mined and processed ore was 192,372 tonnes and
196,364 tonnes respectively. The average head grades for the period
were 3.32% zinc and 3.83% lead. The average metallurgical
recoveries were 84.6% for zinc and 93.3% for lead.
Sasa produces a zinc concentrate and a separate lead concentrate
that contains silver. In Q1 2018, 11,385 tonnes of concentrate
containing 48.5% zinc and 9,587 tonnes of concentrate containing
73.2% lead were produced.
Sasa typically receives from smelters approximately 85% of the
value of its zinc in concentrate and approximately 95% of the value
of its lead in concentrate. Accordingly, Q1 2018 payable production
of zinc was 4,690 tonnes and of lead was 6,669 tonnes. Payable base
metal in concentrate sales for the period were 4,584 tonnes of zinc
and 6,726 tonnes of lead.
During Q1 2018, Sasa sold 108,680 ounces of payable silver. Due
to an existing streaming agreement with Osisko Gold Royalties,
CAML's silver production has been pre-sold.
Units Q1 2018 Q1 2017*
---------------------------- --------- -------- ---------
Ore mined t 192,372 191,939
---------------------------- --------- -------- ---------
Plant feed t 196,364 192,773
---------------------------- --------- -------- ---------
Zinc grade % 3.32 3.21
---------------------------- --------- -------- ---------
Zinc recovery % 84.6 85.5
---------------------------- --------- -------- ---------
Lead grade % 3.83 4.00
---------------------------- --------- -------- ---------
Lead recovery % 93.3 94.4
---------------------------- --------- -------- ---------
Zinc concentrate t (dry) 11,385 10,688
---------------------------- --------- -------- ---------
* Grade % 48.5 49.5
---------------------------- --------- -------- ---------
* Contained zinc t 5,518 5,289
---------------------------- --------- -------- ---------
Lead concentrate t (dry) 9,587 10,333
---------------------------- --------- -------- ---------
* Grade % 73.2 73.1
---------------------------- --------- -------- ---------
* Contained lead t 7,020 7,286
---------------------------- --------- -------- ---------
*Q1 2017 Sasa production pre-dates CAML ownership
Shuak
Following completion of the Shuak 2017 exploration programme,
CAML has now received all assay results for the diamond and core
hydrotransport ('CHT') drilling undertaken.
The new areas of oxide mineralisation that have been identified
at the Kyzyl-Sor prospect have an estimated average thickness of 46
metres at an estimated average copper grade of 0.32% based on CHT
drilling, although these estimates will not form part of any
resource estimation.
Core from diamond drilling demonstrated intersections in the
oxide material such as 41 metres at a copper grade of 0.51% from a
depth of 3 metres and 45 metres at a copper grade of 0.28% from a
depth of 2 metres.
Examples of encouraging sulphide intervals are 23 metres at a
copper grade of 0.94% from a depth of 55 metres and 32 metres at a
copper grade of 0.72% from a depth of 81 metres.
The following table demonstrates some notable drilling results
in oxidised material.
Prospect Drill hole From (m) Intersection Cu (%)
(m)
-------------- ------------ --------- ------------- -------
Mongol V MN1 3.0 47.0 0.29
-------------- ------------ --------- ------------- -------
Mongol V MN2 0.5 49.2 0.24
-------------- ------------ --------- ------------- -------
Mongol V MN5 0.4 18.6 0.24
-------------- ------------ --------- ------------- -------
Mongol V MN14 6.0 24.7 0.28
-------------- ------------ --------- ------------- -------
Mongol V MN15 0.6 20.1 0.23
-------------- ------------ --------- ------------- -------
Mongol North MN9 4.9 13.1 0.15
-------------- ------------ --------- ------------- -------
Mongol North MN13 14.6 33.4 0.26
-------------- ------------ --------- ------------- -------
Mongol I-II MM2 0.2 13.9 0.39
-------------- ------------ --------- ------------- -------
Mongol I-II MM2 25.8 15.9 0.36
-------------- ------------ --------- ------------- -------
Mongol I-II MM4 0.5 58.3 0.44
-------------- ------------ --------- ------------- -------
Mongol I-II MM9 21.3 54.7 0.22
-------------- ------------ --------- ------------- -------
Kyzyl-Sor KS1 2.2 45.1 0.28
-------------- ------------ --------- ------------- -------
Kyzyl-Sor KS2 31.1 10.5 0.22
-------------- ------------ --------- ------------- -------
Kyzyl-Sor KS4 0.4 37.8 0.28
-------------- ------------ --------- ------------- -------
Kyzyl-Sor KS6 5.0 59.0 0.13
-------------- ------------ --------- ------------- -------
Kyzyl-Sor KS12 3.1 41.0 0.51
-------------- ------------ --------- ------------- -------
Kyzyl-Sor KS13 5.5 50.8 0.26
-------------- ------------ --------- ------------- -------
Kyzyl-Sor KS15 9.3 32.7 0.20
-------------- ------------ --------- ------------- -------
The following table demonstrates some notable drilling results
in sulphide material.
Prospect Drill hole From (m) Intersection Cu (%)
(m)
-------------- ------------ --------- ------------- -------
Mongol V MN2 78.3 27.4 0.58
-------------- ------------ --------- ------------- -------
Mongol V MN3 55.0 23.0 0.94
-------------- ------------ --------- ------------- -------
Mongol V MN4 81.0 32.3 0.72
-------------- ------------ --------- ------------- -------
Mongol V MN5 71.0 30.3 0.31
-------------- ------------ --------- ------------- -------
Mongol V MN6 38.2 22.7 0.98
-------------- ------------ --------- ------------- -------
Mongol V MN14 60.0 35.4 0.59
-------------- ------------ --------- ------------- -------
Mongol V MN15 64.9 24.1 0.57
-------------- ------------ --------- ------------- -------
Mongol V MN15 238.0 17.0 0.67
-------------- ------------ --------- ------------- -------
Mongol V MN15 328.5 12.7 0.60
-------------- ------------ --------- ------------- -------
Mongol North MN9 37.0 18.0 0.59
-------------- ------------ --------- ------------- -------
Mongol North MN9 95.4 21.2 0.55
-------------- ------------ --------- ------------- -------
Mongol I-II MM1 21.7 97.3 0.20
-------------- ------------ --------- ------------- -------
Mongol I-II MM2 44.1 22.5 1.74
-------------- ------------ --------- ------------- -------
Mongol I-II MM2 74.5 9.5 1.21
-------------- ------------ --------- ------------- -------
While these intersections are encouraging, CAML will undertake
additional drilling and exploration in 2018 in order to better
understand likely continuity or resource potential of the Shuak
licence.
The table below highlights the $2.5 million proposed 2018 Shuak
exploration programme.
South Deep Kyzyl-Sor Mongol Mongol Total
Shuak zones I V
----------------------- ------- ------- ---------- ------- ------- -------
CHT drilling
(m) 6,000 7,500 1,200 1,000 15,700
----------------------- ------- ------- ---------- ------- ------- -------
Diamond drilling
(m) 1,500 1,500 2,000 2,000 1,500 8,500
----------------------- ------- ------- ---------- ------- ------- -------
Geophysics,
TEM-FAST (no.
lines) 35 - - 5 - 40
----------------------- ------- ------- ---------- ------- ------- -------
Geophysics,
induced polarisation
(no. lines) - 40 - - - 40
----------------------- ------- ------- ---------- ------- ------- -------
For further information contact:
Central Asia Metals Tel: +44 (0) 20 7898 9001
Nick Clarke, Chairman
Nigel Robinson, CFO
Louise Wrathall, Investor louise.wrathall@centralasiametals.com
Relations
Peel Hunt (Nominated Advisor Tel: +44 (0) 20 7418 8900
and Joint Broker)
Ross Allister
James Bavister
Mirabaud Securities (Joint Tel: +44 (0) 20 3167 7221
Broker)
Peter Krens
Blytheweigh (PR Advisors) Tel: +44 (0) 20 7138 3204
Tim Blythe
Camilla Horsfall
Megan Ray
Qualified Person Statement:
The technical information contained in this announcement has
been reviewed and approved by Nick Clarke, CAML Chairman, a
qualified Chartered Engineer and member of the Institute of
Materials, Minerals and Mining (MIMMM).
Note to editors:
Central Asia Metals, an AIM-listed UK company based in London,
owns the Kounrad SX-EW copper project in central Kazakhstan and the
Sasa zinc-lead mine in Macedonia. The Company also owns 80% of the
Shuak copper exploration property in northern Kazakhstan. For
further information, please visit www.centralasiametals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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