(Alliance News) - Chaarat Gold Holdings Ltd on Thursday touted the prospectivity of the Karator oxide gold prospect, after completing a drilling programme for the year.
Chaarat is a gold miner, which has an operating mine in Armenia and assets in Kyrgyzstan. The Karator prospect is a northeastern extension of Tulkubash project, striking southwest to northeast and steeply dipping to the southeast.
The completed Karator 2023 drilling programme consisted of nine drill holes, totalling 1,603 metres, as an initial phase of a resource definition drilling programme.
According to the firm, all nine completed drill holes intersected oxide gold mineralisation, confirming Karator prospectivity for high quality additional Tulkubash oxide gold resource. Result highlights included 3.38 grams per tonne of gold over 21.5 metres in DH23K625 and 1.43 grams per tonne gold over 95 metres in DH23K628.
"I am very pleased to see the completed Karator drilling programme return encouraging intercepts. The intercepts confirm excellent exploration potential, as to add significant high quality oxide gold resource Tulkubash Heap Leach project, which is located only 2 kilometres to northeast," said Dimitar Dimitrov, senior vice president of geology.
Chaarat Gold shares were trading 9.6% higher at 7.40 pence each in London on Thursday afternoon.
By Holly Beveridge, Alliance News reporter
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Chaarat Gold (CGH)