Rux signs JV with Uzbekistan

Junior Rux Resources (RUXR-C) has formed a 50-50 joint venture with the government of Uzbekistan to participate in two precious metal projects in that country’s Tashkent region.

One of these, the Kayragach epithermal gold deposit, is already producing at the rate of 12,000 oz. per year, though Rux hopes to increase this to at least 60,000 oz. by constructing a new mill. The resource estimate stands at 1.1 million tonnes grading 14.5 grams gold per tonne.

At the nearby Aktepe silver deposit, which has a Soviet-era resource estimate of 2.2 million tonnes grading 4.5 kg silver per tonne, work is at the prefeasibility stage.

Greg McKnight, Rux’s president, says the company is currently in discussions with the government concerning further joint-venture projects.

Rux is also active in the Magadan and Khabarovsk regions of Far Eastern Russia, in the Krasnoyarsk region of southeastern Siberia and in the Ural region of Sverdlosk.

The Toronto-based company is a subsidiary of William Resources (WIM-T).

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