TIDMTSG
RNS Number : 7136W
Trans-Siberian Gold PLC
23 April 2019
23 April 2019
Trans-Siberian Gold plc
("TSG", the "Company" or the "Group")
Rosnedra issues licence for Rodnikova deposit
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold
producer in Russia, is pleased to announce that the Federal Agency
for Subsoil Use ("Rosnedra") has issued a licence to ZAO
Trevozhnoye Zarevo ("TZ"), TSG's wholly owned subsidiary for the
development and exploration of the Rodnikova deposit, one of the
largest gold fields in South Kamchatka, for a tenure of 20
years.
Highlights:
-- 20 year licence awarded
-- Located in close proximity (50km) to the Company's operating Asacha Gold Mine
-- GKZ Russian classified resource of 1Moz gold at 5.3 g/t and 8.3Moz silver at 44.6g/t
-- High-grade gold-silver deposit is one of the largest gold fields in South Kamchatka
Rodnikova is a high-grade gold and silver epithermal deposit
located in close proximity to the Company's operating Asacha Gold
Mine. In accordance with the Mineral Resources report approved by
the Russian State Commission for Reserves ("GKZ"), the Rodnikova
deposit is estimated to contain 1Moz of gold with an average grade
of 5.3g/t.
The Company is currently devising its exploration field work
programme to assess the full potential of the Rodnikova deposit and
options to potentially initiate early stage production.
Taking into consideration the fact that the Asacha and Rodnikova
deposits are believed to have similar geology, mineralogy and
metallurgy, the Company will determine the suitability of utilising
the existing processing techniques and plant at Asacha for the ore
at Rodnikova.
Alexander Dorogov, Chief Executive Officer of TSG,
commented:
"I am pleased to announce that following the successful bid for
the Rodnikova licence, TSG is no longer a single asset miner. We
believe that Rodnikova is a complementary asset which perfectly
fits the TSG portfolio of epithermal deposits as well as our
strategy of becoming a premier mid-tier gold producer and
developer.
We see potential geographic and operational synergies, as
Rodnikova is located at the heart of our operations in South
Kamchatka, just 50km from the Asacha Gold Mine. TSG is ideally
placed to develop the asset, as Rodnikova and Asacha have similar
types of mineralisation and TSG's highly experienced management
team has a deep understanding of the region and significant
expertise of successfully bringing epithermal deposits into
production."
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 (south-eastern part),
Carbonate (north-eastern 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 Vilyucha 175,000 9.3 1,144,000 60.9 2
============ ========== ========= ========== =========== ======== =========
C1 + C2 Total 993,000 5.3 8,303,000 44.6 2
============ ========== ========= ========== =========== ======== =========
S
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.
Qualified Person review statement
Tatyana Babina has reviewed the technical information contained
within this announcement in her capacity as a Qualified Person, as
required under the AIM Rules for Companies. Tatyana Babina is an
employee of the Company and is an Expert member of good standing
with the Russian Society of Subsoil Use Experts (OERN).
Technical Glossary
"C1" - Russian reserve category partly consistent with the
Measured category and partly with the Indicated resource category
of the JORC code.
"C2" - Russian reserve category predominately consistent with
the Inferred category and partly with the Indicated resource
category of the JORC code.
"cut-off grade" - the lowest grade, or quality, of mineralised
material that qualifies as economically mineable and available in a
given deposit. May be defined on the basis of economic evaluation,
or on physical or chemical attributes that define an acceptable
product specification.
"g/t" - grams per tonne
"GKZ" - Gosudarstvenaya Komisiya po Zapasam (State Commission on
Mineral Reserves)
"Indicated mineral resource" - a part of a Mineral Resource for
which tonnage, densities, shape, physical characteristics, grade
and mineral content can be estimated with a reasonable level of
confidence. It is based on exploration, sampling and testing
information gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes. The
locations are too widely or inappropriately spaced to confirm
geological and/or grade continuity but are spaced closely enough
for continuity to be assumed
"Inferred mineral resource" - a part of a Mineral Resource for
which tonnage, grade and mineral content can be estimated with a
low level of confidence. It is inferred from geological evidence
and assumed but not verified geological and/or grade continuity. It
is based on information gathered through appropriate techniques
from locations such as outcrops, trenches, pits, workings and drill
holes which may be limited or of uncertain quality and
reliability.
"JORC Code" - the code for reporting of the Australasian Joint
Ore Reserves Committee, which is sponsored by the Australian mining
industry and its professional organisations. The code is widely
accepted as a standard for professional reporting purposes for
reporting of mineral resources and ore reserves.
"M" - million
"Measured mineral resource" - a part of a Mineral Resource for
which quantity, grade (or quality), densities, shape, and physical
characteristics are estimated with confidence sufficient to allow
the application of Modifying Factors to support detailed mine
planning and evaluation of the economic viability of the
deposit.
"Mineral Resource" - a concentration or occurrence of material
of intrinsic economic interest in or on the Earth's crust in such
form, quality and quantity that there are reasonable prospects for
eventual economic extraction. The location, quantity, grade,
geological characteristics and continuity of a Mineral Resource are
known, estimated or interpreted from specific geological evidence
and knowledge. Mineral Resources are sub-divided, in order of
increasing geological confidence, into Inferred, Indicated and
Measured categories.
"Mineralisation" - the process or processes by which a mineral
is introduced into a rock, resulting in a valuable or potentially
valuable deposit. It is a general term, incorporating various
types; e.g., fissure filling, impregnation, and replacement.
"oz" - ounce
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END
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