Last checked at 10 Aug 2017 07:00
Georgian Mining Corporation / EPIC: GEO / Sector: Natural Resources
10 August 2017
Georgian Mining Corporation
Appointment of Senior Adviser
Georgian Mining Corporation ('GEO' or the 'Company') is pleased to announce the appointment of Mr. Mikhail Leskov, a process engineer and metallurgist with more than 35 years' experience, as a senior adviser to assist the Company in the development and commencement of gold and copper production at the Kvemo Bolnisi East Project ('KB' or the 'Project'). Mr Leskov will work closely with the Company's JV partner, the owner of two adjacent producing gold and copper mines and processing facilities at Madneuli and Sakdrisi.
Mr Leskov has held board and senior management positions at a number of leading mining companies in Russia, including GV Gold, Atomredmetzoloto (ARMZ), Russian Platinum, and Severstal. During his career he has been involved in approximately 700 projects at various stages of development and covering a wide array of minerals, including copper and gold, across Russia, CIS, Canada, USA, Africa, Asia and Australia. His responsibilities have included the management of scoping studies, metallurgical work for the production of Ni, Cu, Zn, Pb, Co, Ag, Au, Pt, Pd and other metal and non-metal mineral commodities, and the re-engineering of development processes to optimise efficiencies and maximise production.
Mr Leskov was founder and chairman of NBL Gold - later registered as NBL International (UK), one of the first and the largest engineering consulting groups in post-Soviet Russia. Prior to founding NBL, he held various positions over a period of ten years at the Ginalmazzoloto State Soviet Institute of Precious Metals and Diamonds, a scientific and research institution focused on the processing and refining of precious metals, including gold, silver and platinum. Mr Leskov is currently also a Director of Mining and Metals at American Appraisal Russia.
Mr Leskov was a member of the Board of the Union of Gold Producers of Russia, a non-commercial organisation founded in 1995 to assist in the development of the gold mining and precious metals industry in Russia.
Mr Leskov graduated as a mineral processing engineer from the Moscow Institute of Steel and Alloys, specialising in Engineering and Design for Mineral Processing/Beneficiation Plants. He has been a member of the Association of Mining Analysts (UK) since 2004 and the Russian Society of Experts for Sub-soil Use/OERN (NAEN) since 2013.
Georgian Mining Corp Managing Director Greg Kuenzel said, "The addition of Mr Leskov's proven expertise in metallurgy, along with his considerable experience in processing plant design, costing, implementation and management will be of huge benefit to the Company as we continue to advance our development programme at KB. Having proven up initial Mineral Resources for both gold and copper at KB our focus now turns to finalising the intial production agreement with our JV partner as well as continuing with our phased resource development targets."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit www.georgianmining.com or contact:
Greg Kuenzel | Georgian Mining Corporation | Company | Tel: 020 7907 9327 |
Ewan Leggat | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
Soltan Tagiev | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
Damon Heath | Shard Capital Partners LLP | Joint Broker | Tel: 0207 186 9950 |
Frank Buhagiar | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |
Susie Geliher | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |
About Georgian Mining Corporation
Georgian Mining Corporation has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines. The Bolnisi licence covers an area of over 860 sq km and has a 30-year mining licence with two advanced exploration projects; Kvemo Bolnisi and Tsitsel Sopeli. These projects are nearby existing mining operations owned by the Company's supportive joint venture partner. Georgia has an established mining code and is a jurisdiction open to direct foreign investment.
The Company is developing the project in three phases:
· Phase 1: H1 2017 target to delineate a minimum of 1-2 Mt to support initial spare capacity (now achieved and exceeded)
· Phase 2: 2017 target to delineate a 3-5 Mt resource of combined copper-gold sulphide and gold oxide mineralisation (on target)
· Phase 3: Long term target - to delineate a resource of 50Mt+