RE: Aperlevak cash5 Jun 2024 21:53
Bit of history
Gulf International Minerals is concentrating its primary energies on its properties in Tajikistan in 2003gulf_map.jpg (23607 bytes) and production has commenced at The Kansai Properties as of early September 2002.
Gulf International Minerals, under the terms of the Tajik-Canada Joint Venture Limited Liability "Aprelevka" agreement, has the exploration rights to an area of Northern Tajikistan known as the Tien Shan Fold, an area of some 2000 sq. km. The Tien Shan Fold is one of the world's most prolific precious metal rock belts, running from Kyrgyzstan to the east, across Northern Tajikistan and west into Uzbekistan. This area has been mined since ancient times and it is only from 1957 that the Russians began any form of sophisticated exploration, which resulted in their being able to prove up 11 million oz of gold along the Tajikistan / Uzbekistan border.
(1) Kansai Properties and Kansai Mill
Kansai is a former mining town and home of the Kansai Mill, which is owned by Gulf International's joint venture with the Republic of Tajikistan.
gulf2.jpg (40576 bytes)Three mining projects makes up the Kansai Properties. The ore and tailings will be processed at thegulf1.jpg (30744 bytes) Kansai Mill which has been totally restored plus the addition of a CIL circuit. The Elution Plant which extracts the gold from the carbon is situated at the Kansai Mill. Full production at the Kansai Mill commenced in August 2002.
The Capacity of the Mill:
§ 1,200 tonnes per day
§ 15,000 tonnes per month
§ 30,000 tonnes monthly by 2002 year end
(2) Aprelevka Gold Deposit
In 1986 the Russians began the development of the Aprelevka Gold Deposits, which they had to subsequently abandon in 1991 with the break up of the Soviet Union. Having completed the necessary works to put the pit into full production the Russians had only time to extract approximately 20,000 oz of gold.
Gulf International Minerals Ltd. signed the Tajik-Canadian Joint Venture Limited Liability "Aprelevka" agreement with the government of Tajikistan in 1996, making Gulf International responsible for putting the Aprelevka mine back into fullgulf3.jpg (17584 bytes) production and managing its subsequent operation. In return Gulf International retains a 49% net profit interest. Aprelevka is an open pit gold mine with reserves of 4.746 million tonnes of ore that will yield 650,000 oz of gold at 7.28 g/t plus 41,000 oz of silver. Russian geologists estimate that reserves of up to one million oz of gold could exist in this deposit. Furthermore a strike line which runs to the east for 2.7 km has Gulf geologists feeling confident that the mining life of Aprelevka could be extended well beyond the ten years anticipated. An active drill programme is to take place with the objective of increasing the gold reserves.
A mining cost of USD$130 per ounce of gold recovered, makes Aprelevka one of the lower cost gold mining projects in the world.