TIDMTSG
RNS Number : 8073Z
Trans-Siberian Gold PLC
15 January 2020
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15 January 2020
Trans-Siberian Gold plc
("TSG" or the "Company")
Discovery of New Vein Extension & Exploration Update
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold
producer in Russia, is pleased to announce the discovery of a new
vein extension at its Asacha Gold Mine and to provide an
exploration update. The newly discovered zone, Vein 25 North, is
located approximately 400 metres north of Vein 25, within the East
zone of the Asacha Gold Mine and has delivered encouraging drilling
results.
Highlights:
-- Discovery of an extension of Vein 25, Vein 25 North, some 400 metres to the north
-- Initial drilling results have provided some high-grade intersections, including:
o C1915: 133 g/t Au, 57 g/t Ag over 4 m
o C1918: 22 g/t Au, 69 g/t Ag over 1 m
o C2002: 89 g/t Au, 109 g/t Ag over 0.5 m
o C2006: 10 g/t Au, 244 g/t Ag over 2.5 m
o C2009A : 13 g/t Au, 194 g/t Ag over 2.3 m
o C2010 : 59 g/t Au, 99 g/t Ag over 1.8 m
-- 400m area between Vein 25 North and Vein 25 remains undrilled
except for one hole, SRK-001 that gave 22 g/t Au, 56 g/t Ag over
0.8 m
-- Discovery of a new vein system about 150 meters east of Vein 25 North
o C2006: 28 g/t Au, 42 g/t Ag over 3.4 m
-- New geological interpretation identified 6 high priority targets, including Vein 25 North
-- Total of 8,200 m drilled in 2019 on Vein 25 and Vein 25 North
-- Total of 25,000 m planned for the 2019-2020 drill campaign over the Asacha licence area
-- Capital expenditure of up to $7.9 million allocated for development and exploration
-- Updated Mineral Resource Estimate for Rodnikova expected in first quarter of 2020
-- Senior consultant with significant experience of epithermal
vein deposits retained to oversee the new in-country exploration
team & work programme
Alexander Dorogov, CEO of Trans-Siberian Gold commented:
"We are very pleased with the strong operational performance
delivered in 2019 and are accelerating our investment in the
exploration and development of the Asacha Gold Mine. The recently
conducted drilling programme has yielded some exciting, high grade
mineralisation results at Vein 25; this is an important development
target for the extension of resource mineralisation. We have an
ambitious exploration programme planned in 2020 and with drilling
continuing we look forward to updating the market on our
progress."
2020 Exploration Priorities
The Company has established the following priorities for
2020:
Main Zone Asacha East Zone Asacha Rodnikova Other
Drilling
* North Extension * V25N & V25 infill drilling * JORC Mineral Resource publication * Selected M&A opportunities
* South Extension Deep * Resource base verification * Exploration drilling * Judicious investments or JVs
* Pre-mining technical studies * Internal Scoping Study
* Vein 18
* Vein K2
The low sulfidation epithermal style of mineralisation found at
the Asacha Gold Mine is favourable for high-grade deposits. The
Asacha licence area and more widely, the regional district, remain
under-explored which the Company believes presents an opportunity
to increase gold resources. As such, the Company has ramped up the
scope and scale of its exploration activities. A recent data
compilation and new geological interpretation produced 6 high
priority targets (see Figure 1)
Figure 1. Asacha licence area new discoveries and drilling
targets
The 2019 drilling programme discovered a new zone, Vein 25N,
some 400 metres north of Vein 25. High grade gold intersections
were obtained in a more or less complex structural environment. The
400 metres long area between the two zones are still undrilled,
except for one hole, SRK-001, that gave interesting values (see
Figure 2, V25 and V25N longitudinal, Table 1, assay results, and
Figure 3, surface plan). Moreover, holes C2006, C2009A and C2010,
on the longitudinal, clearly indicate that vein 25N is still open
to the north and at depth.
While drilling V25N at depth, a new vein system was discovered
about 150 metres to the East. First intersection in hole C2006 gave
27.9 g/t Au, 41.7 g/t Ag over 3.4 m (See Figure 1 and Figure 3,
zone 25 surface plan).
Drilling is continuing and will continue all winter, with a
second drill being mobilised to site. In addition to the north
extension of Vein 25, five other target areas will be drill tested
during the year. To achieve this objective, the Board of Directors
has approved a 2019-2020 drilling program of 25,000 metres. The
drill programme has the potential to be expanded further. The
Company will announce further drilling results as soon as
practicable.
Table 1: 2019 drilling assay results on Vein 25 and Vein 25N
Notes:
1. Intersection lengths are drill core lengths.; the true width
of the zones is about 35% to 85% of the core length depending on
the direction/dip of the drill hole and the structural attitude of
the vein which is still under evaluation
2. Assay results are not capped
3. C1915 to C2010 results do not form part of the Company's 2019
JORC compliant Mineral Resource Estimate.
Figure 2. Drilling assay results on Vein 25 longitudinal.
Figure 3. Zone 25 detailed surface plan.
New Consultant and Competent Person
TSG has retained Jacquelin Gauthier, a Canadian geologist with
significant experience and successes in high-grade epithermal
environments e.g. Kupol Gold Mine, Chukotka and Julietta Gold Mine,
Magadan, Russia, to provide oversight of the development and
execution of the Company's ramped-up exploration plan. He will also
be the Company's Competent Person, as defined by the AIM Rules for
Companies.
Rodnikova
The Company expects to publish a JORC compliant Mineral Resource
Estimate for Rodnikova in the first quarter of 2020. Additionally,
the Company is preparing an internal scoping study to assess the
development options for the deposit.
S
Contacts
TSG
Stewart Dickson +44 (0) 7799 694195
Arden Partners plc
Paul Shackleton (Corporate Finance)
Tim Dainton / Fraser Marshall (Equity Sales) +44 (0) 207 614 5900
Hudson Sandler (Financial PR) +44 (0) 207 796 4133
Charlie Jack / Katerina Parker / Elfreda
Kent
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. The Company also holds the licence for the development
and exploration of the Rodnikova deposit, one of the largest gold
fields in South Kamchatka.
Additional information, including figures and table of this
press release, is available from the Company's website:
www.trans-siberiangold.com
Qualified Person Review
Jacquelin Gauthier, P.Geo., is a Competent Person as defined by
the AIM Rules for Companies and also a Qualified Person pursuant to
Canada National Instrument 43-101. Mr. Gauthier has reviewed and
approved the scientific and technical information contained within
this announcement. The information in this announcement is based
on, and fairly represents, information, which has been compiled by
Mr. Gauthier. Mr. Gauthier has sufficient experience relevant to
the styles of mineralisation and type of deposit under
consideration and to the activity that is being undertaken to
qualify as a Competent Person and has consented to the inclusion of
the matters in this announcement based on the information in the
form and context in which it appears.
Glossary of Technical Terms
"Au" Chemical symbol for gold
"Ag" Chemical symbol for silver
"g/t" grams per tonne, equivalent to parts per million
"JORC" The Australasian Joint Ore Reserves Committee Code
for Reporting of Exploration Results, Mineral Resources
and Ore Reserves 2012 (the "JORC Code" or "the Code").
The Code sets out minimum standards, recommendations
and guidelines for Public Reporting in Australasia
of Exploration Results, Mineral Resources and Ore
Reserves
"koz" thousand troy ounces of gold
"m' Metre
"Mt" million tonnes
"oz" troy ounce (= 31.103477 grams)
"t" tonne (= 1 million grammes)
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
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