Kazakhstani company RG Gold has completed the drilling of the last borehole within the framework of the geological exploration programme for the assessment of gold reserves within the boundaries of the deposits South and North Raigorodok, the company’s press-service reports.
The company drilled 476 wells in 2014-2016, totaling 116 thousand meters in depth. The data will make it possible to assess the resources of gold under the standards of the State Committee for Mineral Resources (Kazakhstan) and international standards JORC. The results of calculation of reserves are expected in the first quarter of 2017. Then the resources will be approved by the State Committee for Mineral Resources.
The drilling of deep wells showed that an average gold content in ore increases with depth. It confirms high potential of the deposit. The shareholders of RG Gold took a decision to continue exploration drilling until May 2017.
After the preparation of the report under JORC standards, the company’s management will take a decision on the revision of the capacity of the dressing plant and project development format. The current approved plan involves the construction of a plant with the processing capacity of 2 million tons of ore per year. Based on the results of the current reserves estimation, they anticipate an increase of ore volume several times. So, it makes it reasonable to construct the dressing plant with the capacity of up to 4 million tons of ore per year.
RG Gold (former “Raygorodok” LLP) is a mining company, operating in Burabay district, Akmola region (Kazakhstan) at the Novodneprovsk contract area, which includes the deposits Novodneprovsk, North and South Raygorodok. The total area of the contract area makes up 67.7 square kilometers. Approved gold reserves make up 36 tons.
To date, the company produces oxide ore at the open-pit mines North and South Raygorodok and processes it by heap leaching method. The only founder of RG Gold is “Verny Capital” Group of companies.