Trans-Siberian Gold +1Moz JORC Mineral Resource Estimate – Rodnikova Gold Deposit

Anastasia Bogdanova | February 10, 2020 | Views: 79 | Source: Trans-Siberian Gold

Trans-Siberian Gold plc (TSG.LN), a high grade gold producer in Russia, announces a JORC compliant Mineral Resource Estimate for the 100% owned Rodnikova Gold Deposit, located in Kamchatka, Far East Russia.

Highlights of Mineral Resource Estimate

  • Total Indicated & Inferred Resources of 6.3Mt at a grade of 5g/t gold, for total contained +1Moz of gold, of which:
  • Indicated Mineral Resources of 3.1Mt at a grade of 5.3g/t gold, for contained 519,000oz gold
  •  Inferred Mineral Resources of 3.2Mt at a grade of 4.8g/t gold, for contained 491,100oz gold
  • Total Indicated & Inferred Resources of 6.3Mt, for total contained 7.4Moz of silver
  • Rodnikova Gold Deposit combines two sites: Rodnikovy and Vilyuchinsky. Vilyuchinsky is located 4 km north-west of Rodnikovy.
  • 75% of total contained gold resources at Rodnikovy

The JORC compliant Mineral Resource produced by SRK Consulting (Russia) Trevozhnoye Zarevo (“TZ”) which holds Deposit.

Estimate (‘MRE’) for the Rodnikova Gold Deposit was Ltd for the Company’s wholly owned subsidiary, CJSC a 25 year exploration licence over the Rodnikova Gold

The MRE was developed in accordance with the recommendations and guidelines of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves as published by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (the JORC Code, 2012 Edition).

SRK’s full report is available on the Company’s website at: www.trans-siberiangold.com

Alexander Dorogov, Chief Executive Officer of TSG, commented:

“It is pleasing to confirm a 1million ounce gold Mineral Resource Estimate at Rodnikova. The JORC Mineral Resource Estimate validates previous reported estimates under the GKZ classification and also the value-created following its cost-effective acquisition last year.

We remain on track to deliver an initial scoping study in Q2 2020. This study will assist in de-risking the project by establishing the framework for understanding the economics of future mine development scenarios and will also provide guidance for near-term exploration programmes to maximise the delineation of further economic mineralisation”.

Mineral Resource Estimate

The Mineral Resource Estimate, classified according to the guidelines of the JORC Code (2012), for the Rodnikova Gold Deposit as at 20 January 2020 is shown in the following table:

Table 1: Mineral Resource Estimate for Rodnikova Gold Deposit (planned for underground extraction) as at 20 January 2020


Notes
:

  1. Mineral Resources are reported in accordance with guidelines and provisions of the JORC Code.
  2. Mineral Resources were estimated at a cut-off grade of 3.0 g/t within underground mining outlines.
  1. The Competent Person for this report of Mineral Resources is Mr Robin Simpson, an employee of SRK Consulting (Russia) Ltd. Mr Simpson is a Member of the Australian Institute of Geoscientists (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person.

 

Summary of Mineral Resource Estimate Report

Location

The Rodnikova Gold Deposit is located in the south-eastern part of the Kamchatka Peninsula, in the South Kamchatka ore region, in the Yelizovo administrative district of the Kamchatka Region. There is a 120km road from Petropavlovsk-Kamchatsky to the Rodnikova Gold Deposit, including 65km of asphalt road. The Rodnikova Gold Deposit is approximately 61 km from the Company’s operating Asacha Gold Mine.

Previous Exploration

The main types of exploration work on the Rodnikova Gold Deposit and its flanks included reconnaissance exploration, diamond drilling (223 drill-holes for 47,377m), core sampling, development of two adit levels totalling 822 m, with a collection of channel and chip samples, excavation of ditches and trenches to trace vein continuity along the strike and channel sampling. The main exploration stages on the deposit were completed in the 1980-1990s. Additional drilling within Rodnikovy mineralised zone and at its flanks were undertaken as part of the 2005-2007 exploration program.

The main exploration reports, drawings and primary field documentation for the Rodnikova Gold Deposit are kept in the regional archives of the Ministry of Natural Resources. SRK is of the opinion that exploration works were generally performed at the level to meet the state standards of the Soviet Union and Russia, and these standards are appropriate for collecting information to be used for Mineral Resource estimation.

The database used to construct the resource model contains information on 223 drill-holes, 332 trenches, 440 clearings and 83 cross-cuts, 15,027 core samples and 12,060 channel samples.

Rodnikovy

Gold mineralisation at the Rodnikova deposit is mainly associated with hydrothermal-metasomatic formations.

The Rodnikovy vein zone is localised in a N-S trending disjunctive fault. The zone thickness is 50-120m, the estimated length is 3 km. It is represented by veins: 42, 43, 44, 52 and 53 which are accompanied by apophyses and numerous quartz veinlets. The main plane of the ore-controlling fault

is composed of Vein 44 which is adjoined at various angles from the side of the hanging wall by the remaining veins that form the main branching structure of tensile fracturing.

The main veins are Veins 43 and 44 which contain 80% of the mineralisation of the Rodnikovy vein zone. The maximum thickness of the ore body is 23m and is observed on the 220m level. Gold grade ranges from tenths of a gram per ton to 90-130g/t, with most samples showing grades within a 4-70g/t range.

Mineralisation from the Rodnikova deposit is a typical quartz low-sulphidation gold and silver. Gold and associated silver are the only valuable ore components of significance. Ore is mostly represented by vein non-metallic minerals: quartz (42.5 – 75%), adularia (9.5 – 16%) and carbonate (5 – 28.6%). Diagnostic leach data shows that most of the gold in analysed ore (88.7%) is amenable to cyanidation (in the presence of a sorbent. Associated silver is mostly present in a cyanide-amenable form (82.2%).

Figure 1: Rodnikovy wireframe model

Vilyuchinsky

The Vilyuchinsky site is located in the north-western part of the ore field, 4 km from the Rodnikovy site, on the watershed of the Bystraya-Paratunka and Vilyucha rivers.

Two systems of ore-controlling faults (sub-meridional and north-eastern) were identified within the site. Of major importance is the system of the N-E trending disjunctive faults that form the Vilyuchinsky ore-bearing vein zone of 400-500m wide traced over some 3km. Productive mineralisation is mainly confined to shallow veins that form tensile fractures (Vein 9). Vein 9 has an average thickness of 2.9m, a strike length of 450m and a dip length of 90m. The average gold grade is 9.82g/t, silver grade is 67.83g/t. 80% of mineralisation at Vilyuchinsky is concentrated within Veins 9, Regina, 6 and 13.

Figure 2: Vilyuchinsky wireframe model

Figure 3: Block model coded by Mineral Resource classification (Rodnikovy looking West at 270°)

 

Next Steps

TZ plans to use the Mineral Resource Estimate as an input for a Scoping Study. The outcomes of this internally-produced study will inform a decision about whether or not further drilling and sampling is justified, in order to improve the level of confidence in the current Mineral Resource Estimate, and in particular to increase the portion of Indicated Mineral Resources (which could potentially convert to Reserves if a Pre-Feasibility Study is prepared).

SRK believes that mineral and material composition, as well as internal structure of gold mineralisation have been studied reasonably well during previous exploration campaigns and are mainly based on sampling results for trenches (longitudinal and transverse) and underground developments in the central part of the Rodnikovy site. In order to expand the Rodnikovy site’s mineralisation potential, SRK recommends looking at options of exploring the northern extension of the zone with infill drilling.

The Company looks forward to publishing the Scoping Study and intended work programme in due course.

 

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