Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHGM.L Regulatory News (HGM)

  • There is currently no data for HGM

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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
19th Aug 20208:33 amRNSForm 8.3 - Highland Gold Mining Ltd
19th Aug 20207:52 amBUSForm 8.3 - Highland Gold Mining Ltd - Amendment
18th Aug 20204:30 pmBUSForm 8.3 - Highland Gold Mining
18th Aug 20204:13 pmBUSForm 8.3 - HIGHLAND GOLD MINING LTD
18th Aug 202010:32 amRNSForm 8.3 - [HIGHLAND GOLD MINING LTD]
18th Aug 20209:57 amRNSForm 8.5 (EPT/NON-RI)
18th Aug 20209:34 amRNSForm 8.5 (EPT/RI)
17th Aug 20205:11 pmRNSForm 8.3 - Highland Gold Mining Ltd
17th Aug 202012:22 pmPRNForm 8.3 - Highland Gold Mining Ltd
17th Aug 202011:03 amRNSForm 8.3 - [HIGHLAND GOLD MINING LTD]
17th Aug 202010:27 amBUSForm 8.3 - HIGHLAND GOLD MINING LTD
17th Aug 202010:07 amRNSForm 8.5 (EPT/NON-RI)
17th Aug 20209:36 amRNSForm 8.5 (EPT/RI)
17th Aug 20207:00 amRNSHighland Gold Publishes Sustainability Report
14th Aug 20204:12 pmRNSForm 8.3 - Highland Gold Mining Ltd. - Amendment
14th Aug 20204:11 pmRNSForm 8.3 - Highland Gold Mining Ltd - Amendment
14th Aug 20203:44 pmRNSForm 8.3 - Highland Gold Mining Ltd.
14th Aug 20202:33 pmBUSForm 8.3 - Highland Gold Mining
14th Aug 20202:03 pmRNSForm 8.3 - Highland Gold Mining Limited
14th Aug 202011:44 amBUSForm 8.3 - HIGHLAND GOLD MINING LTD
14th Aug 20209:48 amRNSForm 8.5 (EPT/NON-RI)
14th Aug 20209:47 amRNSForm 8.3 - [LMR Partners/Highland Gold Mining]
14th Aug 20209:28 amRNSForm 8.3 - Highland Gold Mining Limited
14th Aug 20208:51 amRNSForm 8.5 (EPT/RI)
13th Aug 20204:53 pmRNSForm 8.3 - Highland Gold Mining Ltd
13th Aug 20202:43 pmRNSForm 8.3 - Highland Gold Mining Limited
13th Aug 20201:10 pmRNSForm 8.3 - Highland Gold Mining
13th Aug 202012:34 pmPRNForm 8.3 - Highland Gold Mining Ltd
13th Aug 202011:11 amBUSForm 8.3 - HIGHLAND GOLD MINING LTD
13th Aug 20209:42 amRNSForm 8.5 (EPT/NON-RI)
13th Aug 20209:28 amRNSForm 8.5 (EPT/RI)
13th Aug 20209:07 amRNSForm 8.3 - Highland Gold Mining Limited
12th Aug 20203:07 pmBUSForm 8.3 - Highland Gold Mining
12th Aug 20202:25 pmRNSForm 8.3 - Highland Gold Mining Limited
12th Aug 20201:55 pmPRNForm 8.3 - Highland Gold Mining Ltd
12th Aug 202011:26 amRNSForm 8.5 (EPT/NON-RI)
12th Aug 202010:23 amBUSFORM 8.3 - HIGHLAND GOLD MINING LTD
12th Aug 20209:20 amRNSForm 8.5 (EPT/RI)
12th Aug 20208:43 amRNSRegulatory Application
11th Aug 20202:58 pmRNSForm 8.3 - Highland Gold Mining Limited
11th Aug 20201:38 pmPRNForm 8.3 - Highland Gold Mining Ltd
11th Aug 202012:30 pmRNSForm 8 (OPD) - Fortiana Holdings Limited
11th Aug 202011:01 amRNSForm 8.5 (EPT/RI)
11th Aug 202010:52 amRNSForm 8 (DD) - Highland Gold Mining Limited
11th Aug 202010:43 amRNSForm 8.5 (EPT/NON-RI)
11th Aug 202010:13 amBUSFORM 8.3 - HIGHLAND GOLD MINING LTD
11th Aug 20209:09 amRNSForm 8.5 (EPT/RI) - Highland Gold Mining Ltd
11th Aug 20207:00 amRNSForm 8.3 - Highland Gold Mining Limited
11th Aug 20207:00 amBUSForm 8.3 - Highland Gold Mining Limited - Replacement
10th Aug 202012:19 pmRNSForm 8 (DD) - Highland Gold Mining Ltd

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.