The Kyrgyz Republic’s Ministry of Natural Resources has extended two licences covering Orsu Metals’ Tokhtazan Project.
The Akdjol and Tokhtazan licences at the project have been extended until December 2012.
In accordance with the terms of the Tokhtazan licence the 2010 exploration program will include 1200 metres of drilling and 1500 cubic metres of trenching, with minimum expenditures of US$220,000.
The 2011 exploration program shall include 800 metres of drilling and 1000 cubic metres of trenching, with minimum expenditures of US$166,000, the 2012 exploration program shall include 300 metres of drilling and 500 cubic metres of trenching, with minimum expenditures of US$147,000.
In accordance with the terms of the Akdjol licence the 2010 exploration program shall include 700 metres of drilling and 2000 cubic metres of trenching, with minimum expenditures of US$110,000.
The 2011 Akdjol exploration program shall include 600 metres of drilling and 2000 cubic metres of trenching, with minimum expenditures of US$156,000, and the 2012 exploration program shall include 600 metres of drilling and 1000 cubic metres of trenching, with minimum expenditures of US$147,000.
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