Trans-Siberian Gold PLC Statement re Rodnikova Deposit (9556U)
03 Aprile 2019 - 8:01AM
UK Regulatory
TIDMTSG
RNS Number : 9556U
Trans-Siberian Gold PLC
03 April 2019
03 April 2019
Trans-Siberian Gold plc
("TSG" or the "Company")
Statement re Rodnikova Deposit
Trans-Siberian Gold plc (TSG.LN) a low cost, high grade gold
producer, developer and explorer in Russia, announces that it
participated in an auction on 28 March 2019 held by the Federal
Agency for Subsoil Use ("Rosnedra") for the exploration and
development licence over the Rodnikova deposit in Kamchatka, Far
East Russia.
Rodnikova overview
-- High-grade gold-silver vein deposit is one of the largest gold fields in South Kamchatka
-- Located 50km from the Company's operating Asacha Gold Mine
-- GKZ Russian classified resource of 1Moz at 5.3 g/t Au and 8.3Moz at 44.6g/t Ag
According to information made public by Rosnedra, TSG's wholly
owned subsidiary, ZAO Trevozhnoe Zarevo ("TZ"), submitted the
highest bid with a total amount of $3 million of which $ 2.7
million has been pre-paid.
It is anticipated that Rosnedra will confirm the award of the
licence shortly and that the licence for the Rodnikova deposit will
be issued within the next month. Subject to the award of the
licence, TSG will have the exclusive right to conduct exploration
and development work over an area of 22km(2) for a period of 20
years. Further announcements concerning the award of the licence
will follow.
Rodnikova Deposit
Geography
Situated in Yelizovo District of the Kamchatka region, the
Rodnikova mineral deposit is located approximately 50km from TSG's
operational Asacha Gold Mine and approximately 120km from
Petropavlovsk. The project benefits from good infrastructure with
sealed road access to within 5km of the site and is situated in
close proximity to the Mutnovskaya Geothermal Power Station. The
Mutnovskaya plant is believed to be the largest geothermal power
plant in Russia and is operated by Geotherm JSC, a subsidiary of
the RusHydro Group (MICEX:MOEX; LSE:HYDR).
Geology
The Kamchatka peninsula is well known for its abundant
hydrothermal activity and rich underground mineralisation. The
licence area comprises the Rodnikova deposit (southeastern part),
Carbonate (northeastern part) and Vilyucha (western flank) ore
occurrences. The Rodnikova deposit consists of low-sulfidation
quartz adularia veins in a host rock of diorite.
Project History
Rodnikova was discovered by Soviet geologists in 1977 when
initial mapping and evaluation works were conducted, which lasted
until 1992. Following a tender held in 1994, the Kamchatka
Department of the Geological Committee of the Russian Ministry for
Natural Resources issued a licence to TZ. In 2011 a report on
Rodnikova's Mineral Reserves & Resources was published and
approved by the Kamchatka authorities. In September 2014, the
Company announced that the licence had expired.
Resource Statement
In accordance with the Mineral Resources report, approved by the
Russian State Commission for Reserves ("GKZ") as at 31 December
2013, Rodnikova deposit is estimated to contain 933koz of C1 &
C2 reserves of gold with an average grade of 5.3g/t.
Resource Resource Au Au Grade Ag Ag Grade Cut off
Category Area (oz) (g/t) (oz) (g/t) (g/t)
============ ========== ========= ========== =========== ======== =========
C1 + C2 Rodnikova 818,000 4.9 7,159,000 42.8 2
============ ========== ========= ========== =========== ======== =========
C2 Vilucha 175,000 9.3 1,144,000 60.9 2
============ ========== ========= ========== =========== ======== =========
C1 + C2 Total 993,000 5.3 8,303,000 44.6 2
============ ========== ========= ========== =========== ======== =========
ENDS
Contacts:
TSG
Stewart Dickson +44 (0) 7799 69419
Arden Partners plc
Paul Shackleton / Alex Penney (Corporate
Finance)
Tim Dainton / Fraser Marshall (Equity Sales) +44 (0) 207 894 7000
Hudson Sandler (Financial PR) +44 (0) 207 796 4133
Charlie Jack / Katerina Parker
About TSG
TSG is focused on low cost, high grade mining operations and
stable gold production from its 100% owned Asacha Gold Mine in Far
East Russia.
Additional information is available from the Company's website:
www.trans-siberiangold.com
Market Abuse Regulations
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
Disclaimer
This announcement contains "forward-looking statements" - that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "should" or "will." Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets, fluctuations in interest and/or exchange rates and
metal prices; and from numerous other matters of national, regional
and global scale, including those of a political, economic,
business, competitive or regulatory nature. These uncertainties may
cause our actual future results to be materially different that
those expressed in our forward-looking statements.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
STRIJMATMBAMMIL
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April 03, 2019 02:01 ET (06:01 GMT)
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