Marshall can earn a 49% stake in the state-owned Bolshoi and East Kanimansur deposits by preparing a bankable feasibility study. The deal hinges on support from the European Bank for Reconstruction and Development and Overseas Private Investment Corp. Marshall would act as operator should the project be developed.
The deposits were discovered by government geologists. Previous exploration included 411,000 metres of drilling and 29,000 metres of underground development. According to government reports, the deposits contains 1.1 billion tonnes grading 49 grams silver per tonne, plus lead and zinc credits. These figures have yet to be verified by Marshall.
The mine at East Kanimansur includes a mill with a capacity of 600,000 tonnes per year.
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