Announcement Date: 2022-05-24
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Chaarat Gold Holdings Ltd.
Project name: Tulkubash
Location: Kyrgyzstan
Commodities: Gold
Highlight: Updated Resource and Reserve Estimates for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Chaarat (AIM:CGH), the AIM-quoted gold mining Company with an operating mine inArmenia, and assets at various stages of development in the Kyrgyz Republic is pleased to announce the results of the revised JORC compliant Tulkubash Mineral Resource Estimate (“MRE”) and Ore Reserves (“OR”) estimatefollowing the 2021 drilling programme. The targeted 2021 drilling programme has resulted in an improved Mineral Resource model which has contributed to an increase in Ore Reserves. Contained gold in the Measured and Indicated Resources remains unchanged at 789 koz, while Measured and Indicated Resources decreased from 28.5 to 25.1 Mt (-12%) and gold grade increased from 0.86 g/t to 0.98 g/t (+14%). The Inferred Resources have decreased as a result of more conservative constraining factors applied to the MRE. Drilling within the existing Mineral Resource footprint demonstrated increased continuity in and between the ore zones and was successful in improving the pit designs. Further exploration conducted at Tulkubash during 2021 identified several additional new target areas, confirming the Company’s belief that Tulkubash has the potential for further mine life extensions. To date, only about 5 kms
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