KENADYR Mining has received excellent results from the first two holes drilled into the Borubai Gold Project in the Kyrgyz Republic. The first hole returned 40 metres from 638 metres @ 6.17 g/t gold in the South Zone and the second returned 50 metres from 151 metres @ 8.15 g/t in the East Zone.
|Kenadyr Mining’s Borubai Gold Project directly adjoins Zijin Mining Group’s operating TBL mine.|
The two zones straddle Zijin Mining Group’s operating Taldy Bulak Levoberejnyi (TBL) Project and the holes encountered mineralisation consisting of pervasive quartz-tourmaline-pyrite stockwork veining, which is consistent with that being mined at TBL.
Kenadyr’s initial drilling is designed to intersect the various areas surrounding the TBL Mining Lease, which were drilled by the Soviets between 1970 and 1990, and where significant gold mineralisation was reported.
The results confirm that significant widespread gold mineralisation exists on Kenadyr’s licence directly adjacent to TBL and that this continues in both directions along strike from that deposit. These holes encountered stronger and thicker mineralisation than previously reported from both the South and East zones.
The South Zone is open in three directions and to depth, and there are strong indications that it connects to the TBL deposit. Core recovery is greater than 95% and all intervals were assayed using fire assay methods at a laboratory operated by ALS Global.
Other results from the hole are 17 metres from 598 metres @ 1.76 g/t and 5 metres from 714 metres @ 5.8 g/t.
The East Zone is open in two directions and to depth. The 50 metre intersection included 18 metres from 161 metres @ 12.8 g/t.
Kenadyr’s CEO Dr Alexander Becker said, “These results have exceeded our expectations. Technical staff believe, based on the strength of the mineralisation encountered in our first two 2017 drill holes, that mineralisation being mined at TBL continues strongly in two directions along strike onto the Borubai licence. As well, based on the geometry of the TBL deposit, the corporation is confident that these intersections are approximate ‘true widths’.”
Kenadyr has a robust balance sheet, no debt or significant payments owing, and a supportive institutional shareholder base. Management also has extensive in-country operational experience.