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Acquisition

10 Dec 2012 07:00

RNS Number : 0886T
Highland Gold Mining Limited
10 December 2012
 

HIGHLAND GOLD ACQUIRES THE WESTERN FLANK EXPLORATION PROPERTY ADJACENT TO MNOGOVERSHINNOYE MINE

 

10 December 2012 - Highland Gold Mining Limited ("Highland Gold" or the "Company") announces the acquisition of a license for exploration and mining rights for the Western Flank, a 3.9 km² property immediately adjacent to the Company's existing Mnogovershinnoye (MNV) mine operations. The acquisition resulted from an open auction held on 6 December in the regional capital of Khabarovsk for a bid price of 8.690 million roubles (ca. US$ 280,322). This new license area includes the highly prospective Chaynoye zone which has good potential to deliver new resources at MNV.

 

The Chaynoye prospect is approximately 1,000 metres in length and varies from 40 to 150 metres in width. It is situated in a favourable structural setting near the intersection of two major faults immediately northwest and adjacent to the current MNV license area. Chaynoye was partially explored in the past and has a historical reported prognostic resource of 3.5 tonnes (112,500 oz) of gold. Gold mineralisation is hosted within zones of quartz and quartz-carbonate veins and veinlets as well as within areas of quartz-sericite altered and silicified volcanic rock. Explored vein widths range between 0.3 to 3.0 metres for up to 115 metres along strike and reported historic gold grades as high as 207 g/t.

 

An aggressive trenching and drilling programme is being designed for 2013 in order to upgrade the resource potential of Chaynoye for future exploitation via the Company's operations at MNV.

 

This acquisition underpins the Company's continued focus on its near-mine exploration efforts at MNV with a goal of verifying and further increasing the known near mine mineralised prospects thereby adding value to the ongoing operations.

 

Mr. Werner Klemens, Head of Exploration at Highland Gold has reviewed and verified the information contained in this release with respect to drilling and resource / reserve matters. Mr. Klemens holds a Ph.D. in Geology from the University of Toronto, has over 15 years of experience in mineral exploration and is a fellow of the Geological Association of Canada. A rigorous quality assurance programme complying with international standards is in effect at all exploration projects and includes duplicate sampling, insertion of standards and check assaying at external laboratories.

 

 

For further information please contact:

 

Highland Gold Dmitry Yakushkin, Head of Communications

+ 7 495 424 95 21

Duncan Baxter, Non-Executive Director

+ 44 (0) 1534 814 202

 

Numis Securities Limited

(Nominated Adviser and Joint Broker)

 

Alastair Stratton / Stuart Skinner, Nominated Adviser

+44 (0) 207 260 1000

James Black, Corporate Broking

+44 (0) 207 260 1000

 

Peat & Co Charlie Peat

(Joint Broker)   +44 (0) 207 104 2334

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQUWVNRUVAURAA
Date   Source Headline
1st Sep 20202:46 pmBUSForm 8.3 - Highland Gold Mining
1st Sep 202011:45 amRNSForm 8.5 (EPT/NON-RI)
1st Sep 202011:16 amRNSHolding(s) in Company
1st Sep 202010:59 amBUSFORM 8.3 - HIGHLAND GOLD MINING LTD
1st Sep 20209:32 amRNSForm 8.5 (EPT/RI)
1st Sep 20207:00 amRNSInterim Results Announcement for H1 2020
1st Sep 20207:00 amRNSForm 8.3 - Highland Gold Mining Limited
31st Aug 20202:55 pmEQSForm 8.3 - Tibra Trading PTY Limited: Highland Gold Mining Ltd
28th Aug 20203:17 pmBUSForm 8.3 - Highland Gold Mining
28th Aug 20202:55 pmEQSForm 8.3 - Tibra Trading PTY Limited: Highland Gold Mining Ltd
28th Aug 202012:37 pmPRNForm 8.3 - Highland Gold Mining Ltd
28th Aug 202011:40 amBUSForm 8.3 - HIGHLAND GOLD MINING LTD
28th Aug 202010:54 amRNSInterim Results Announcement Date
28th Aug 20209:25 amRNSForm 8.3 - [HIGHLAND GOLD MINING LTD]
28th Aug 20209:19 amRNSForm 8.5 (EPT/RI)
28th Aug 20207:00 amRNSForm 8.3 - Highland Gold Mining Limited
27th Aug 20204:11 pmBUSForm 8.3 - Highland Gold Mining Ltd
27th Aug 20203:41 pmBUSForm 8.3 - Highland Gold Mining
27th Aug 20203:04 pmPRNForm 8.3 DD - Highland Gold Mining
27th Aug 20202:55 pmEQSForm 8.3 - Tibra Trading PTY Limited: Highland Gold Mining Ltd
27th Aug 202012:23 pmPRNForm 8.3 - Highland Gold Mining Ltd
27th Aug 20209:19 amRNSForm 8.5 (EPT/RI)
26th Aug 20203:14 pmBUSForm 8.3 - Highland Gold Mining
26th Aug 20202:55 pmEQSForm 8.3 - Tibra Trading PTY Limited: Highland Gold Mining Ltd
26th Aug 20201:12 pmBUSForm 8.3 - HIGHLAND GOLD MINING LTD
26th Aug 202011:00 amRNSForm 8.5 (EPT/NON-RI)
26th Aug 20209:25 amRNSForm 8.5 (EPT/RI)
25th Aug 20204:36 pmBUSForm 8.3 - HIGHLAND GOLD MINING LTD
25th Aug 20202:55 pmEQSForm 8.3 - Tibra Trading PTY Limited: Highland Gold Mining Ltd
25th Aug 202012:45 pmPRNForm 8.3 - Highland Gold Mining Ltd
25th Aug 20209:03 amRNSForm 8.5 (EPT/RI)
24th Aug 20202:55 pmEQSForm 8.3 - Tibra Trading PTY Limited: Highland Gold Mining Ltd
24th Aug 202012:12 pmBUSForm 8.3 - Highland Gold Mining Ltd
24th Aug 202010:09 amRNSForm 8.5 (EPT/NON-RI)
24th Aug 20209:35 amRNSForm 8.5 (EPT/RI)
21st Aug 20202:45 pmEQSForm 8.3 - Tibra Trading PTY Limited:
21st Aug 20201:34 pmBUSForm 8.3 - Highland Gold Mining Ltd - Amendment
21st Aug 202011:10 amRNSForm 8.5 (EPT/NON-RI)
21st Aug 202011:01 amBUSForm 8.3 - HIGHLAND GOLD MINING LTD
21st Aug 20209:35 amRNSTR-1: Form for notification of major holdings
21st Aug 20208:55 amRNSForm 8.5 (EPT/RI)
20th Aug 202010:48 amBUSForm 8.3 - HIGHLAND GOLD MINING LTD
20th Aug 20209:38 amRNSForm 8.3 - [HIGHLAND GOLD MINING LTD]
20th Aug 20209:20 amRNSForm 8.5 (EPT/RI)
20th Aug 20209:20 amRNSForm 8.5 (EPT/NON-RI)
20th Aug 20208:52 amRNSForm 8.5 (EPT/RI) - Highland Gold Mining Ltd
19th Aug 202011:00 amBUSFORM 8.3 - HIGHLAND GOLD MINING LTD
19th Aug 202010:06 amRNSForm 8.3 - [HIGHLAND GOLD MINING LTD]
19th Aug 20209:44 amRNSForm 8.5 (EPT/RI)
19th Aug 20209:40 amRNSForm 8.5 (EPT/NON-RI)

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