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

Reserve Update

1 Jun 2011 07:00

RNS Number : 6145H
Highland Gold Mining Limited
01 June 2011
 



HIGHLAND GOLD MINING LIMITED

MILESTONE ACHIEVEMENT - RESERVE APPROVAL AT UNKURTASH DEPOSIT

 

1 June 2011 - Highland Gold Mining Limited ("Highland Gold", or the "Company" AIM: HGM) is pleased to announce the approval of 42.9 tonnes (1.38 million oz) gold reserves (C1+C2 category) by the State Committee on Reserves of the Kyrgyz Republic (GKZ) at its Unkurtash project in Kyrgyzstan. As a result the GKZ reserves of the Company as stated at 31 December 2010 will increase by 19%. The approval will facilitate the granting of a mining license and represents a major step towards mine development of the Company's Unkurtash project.

 

The Company has committed to audit its GKZ reserves in compliance with JORC standards and this work related to the Unkurtash project has already been initiated with anticipated completion during H2 2011.

 

The Unkurtash project includes three distinct prospects: the Unkurtash, Sarytube and Karatube located within the Company's two licenses Unkurtash-Andagul (12 km2) and Kassan (51 km2). The combined mineralised zone measures approximately 4,000 metres on strike, ranges from 250-500 metres in width and has a potential vertical extent of at least 350 metres.

 

Based primarily on the 2009 drilling and exploration programme, a pre-feasibility study including a reserve calculation was submitted for approval in late 2010 to the Kyrgyz GKZ who passed a decision to register the initial (C1+C2) reserves with the state natural resource inventory. Accordingly, at a cut-off grade of 0.7 g/t in-pit (C1+C2) reserves amount to 42.9 tonnes of gold contained in 17.0 million tonnes of ore at an average grade of 2.52 g/t. The pre-feasibility study envisages conventional large scale open-pit mining and utilising a combination of gravitation and cyanidation process technology for gold recovery.

 

The Company is making excellent progress with its ongoing exploration programme and recent drilling results corroborate the potential of hosting a world class stockwork-type gold resource at Unkurtash and Sarytube. Highland Gold aims to substantially increase this initial mineral resource estimate and has earmarked over 50,000 metres of reverse circulation and diamond core drilling as well as advancing 3,000 metres of underground exploration development during 2011 in order to test the continuity of mineralisation across the three prospects. US$20 million of the Company's US$30 million planned 2011 exploration budget has been assigned for this project.

 

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 / reserves matters. Mr. Klemens holds a Ph.D. in Geology from the University of Toronto. He has 13 years 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, Chairman + 44 (0) 1534 814 202

Matrix

Robin Henshall, Partner +44 (0) 20 3206 7172

(Nominated Adviser and Broker)

Nick Stone +44 (0) 20 3206 7343

Fin Public Relations

Alex Glover + 44 (0) 20 7608 2280

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLLLFSDETILVIL
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.