KazMinCo advances gold-copper deposits

A prefeasibility study is expected by year-end for the Varvarinskoye gold-copper deposit in northern Kazakhstan, reports operator Kazakhstan Minerals (KMC.U-T).

The company, also known as KazMinCo, has completed 13,600 metres of core drilling in 81 holes, which will be added to the 120,000 metres of historical drill data.

Results to date from the new drilling are confirming resources in the four initial pits. The intercepts are at depths of fewer than 100 metres below surface.

Drilling in the River Pit returned 30.7 metres grading 3.46 grams gold per tonne plus 0.38% copper from 49 to 79.7 metres, while a hole in the N.E. pit returned 11.7 metres of 2.46 grams gold and 0.07% copper from 27.5 to 39.2 metres.

Drilling in the Central pit returned: 17.15 metres of 6.67 grams gold and 0.86% copper; 12.7 metres of 8.45 grams gold and 3.67% copper; and 26.8 metres of 1.7 grams gold (copper assays are still awaited).

The drilling is also returning mineralized intercepts from satellite bodies near the known deposits, and these values will be included in the prefeasibility study.

Results from satellite targets include: 13.6 metres of 2.17 grams gold and 0.27% copper; 19.7 metres of 2.35 grams gold and 0.41% copper, 4.4 metres of 14.8 grams gold; 74 metres of 2.04 grams gold and; 16.8 metres of 2.88 grams gold. Some copper assays were still pending at presstime.

KazMinCo previously reported results from drilling on the West and East bodies of the Samarskoye copper-gold porphyry and the Northern gold deposit, also in Kazakhstan.

Select results from the West body include: 451 metres of 1.35% copper and 0.47 gram gold from 369 to 820 metres; 269.7 metres of 1.11% copper and 0.33 gram gold from 211.4 to 481.1 metres; and 321 metres of 0.71% copper and 0.18 gram gold from 285 to 606 metres.

Results from drilling on the East body include: 27 metres of 0.85% copper and 0.22 gram gold from 258 to 285 metres; 20 metres of 0.84% copper and 0.36 gram gold from 185 to 205 metres; 23.8 metres of 0.64% copper and 0.41 gram gold from 144 to 167.8 metres; 31.6 metres of 0.82% copper and 0.44 gram gold from 107.4 to 139 metres; 51 metres of 0.8% copper and 0.32 gram gold from 370 to 421 metres; and 94.5 metres of 0.82% copper and 0.26 gram gold from 456 to 550.5 metres.

Drilling on the Northern gold deposit was carried out in a 700-metre-long shear zone. The company notes that gold mineralization was intersected over significant widths at locations where the geometry and near-surface occurrence appear to render the structure amenable to open-pit mining.

Metallurgical work indicates that 92% of the gold in the zone is extractable by simple cyanide-leaching, with short leach times and low reagent consumptions.

Select results from the Northern gold deposit include: 33.3 metres of 1.72 grams gold from 85.2 to 118.5 metres; 42.2 metres of 1.8 grams from 132.2 to 174.5 metres; 26 metres of 3.26 grams from 207 to 233 metres; 19.7 metres of 1.37 grams from 94.8 to 114.5 metres; and 11.8 metres of 1.13 grams from 183.5 to 195.3 metres.

KazMinCo expects to complete a prefeasibility study on the Samarskoye copper-gold deposit by mid-1997. It also intends to evaluate scoping studies for the Northern gold deposit early next year.