Drilling update
(Thomson Reuters ONE) -
Chaarat Gold Holdings Limited
("Chaarat" or "the Company")
Drilling update - Contact Project (Kiziltash)
Road Town, Tortola, British Virgin Islands (13 April 2011)
Chaarat Gold Holdings Ltd (AIM:CGH) is pleased to report current drilling
results from the Contact Project (Kiziltash). The results from the 7 new drill
holes show further consistency and continuity in the mineralisation at the
Contact Project. The Contact Project is located within the Contact Zone of the
Kiziltash Project and comprises the mineralised body which has been created by
combining the C4600 and C5300 projects.
Selected results from the Contact Project of the Kiziltash Project
* UG-28 24.00m at 4.88 g/t Au
including 5.10m at 6.74 g/t Au
* UG-411 7.88m at 4.17 g/t Au
* UG-412 5.00m at 4.76 g/t Au
* UG-412 7.50m at 7.17 g/t Au
* UG-27 5.63m at 4.08 g/t Au
* UG-27 9.00m at 3.74 g/t Au
* UG-602 19.00m at 2.66 g/t Au
including 6.00m at 3.91 g/t Au
A further 20 underground holes have been drilled since the announcement on 7
February 2011 of the Company's total JORC compliant resource of 4.41Moz grading
4.2g/t. The holes were all drilled in the Contact Project, which of the
resource announced on 7 February 2011, was estimated previously to contain
2.001Moz at 4.20g/t gold. The results of 10 drill holes were released on 3 March
2011 and the results of 7 drill holes are included in this announcement.
Drilling in the Contact Project continues and the Company will report further
results regularly.
Mineralisation in the Contact Project has been established over a strike length
of 1,160 metres and vertical extension to a maximum depth of 900 metres from the
surface. The mineralisation is open both along strike and down dip. A copy of
this announcement including additional technical illustrations is available at
the Investors section of the Company's website - www.chaarat.com.
Dekel Golan, CEO of Chaarat, commented: "The Contact Project is emerging as a
spectacular project. We believe there is considerable scope for increasing this
resource body and the Company intends to continue focusing drilling activity at
the Contact Project.
"The significance of the Contact Project is not only due to its size and
scalability, but also in its continuity, which has enabled the Company to drill
68 underground holes which have each encountered mineralisation. The
continuity, consistency and predictability makes the Contact Project a linchpin
for the future Chaarat mine."
Full drill hole results:
DH No. Project Section From To Intersected width True width Au g/t
UG-602 CP 4960 72.00 81.00 9.00 6.00 2.41
UG-602 CP 4960 141.50 147.50 6.00 4.00 2.56
UG-602 CP 4960 352.00 380.50 28.50 19.00 2.66
including CP 4960 353.50 362.50 9.00 6.00 3.91
including CP 4960 373.00 376.00 3.00 2.00 3.15
including CP 4960 379.00 380.50 1.50 1.00 5.28
UG-411 CP 5280 117.50 120.00 2.50 1.88 3.57
UG-411 CP 5280 186.00 192.00 6.00 4.50 4.54
UG-411 CP 5280 198.00 201.00 3.00 2.25 4.58
UG-411 CP 5280 222.00 232.50 10.50 7.88 4.17
including CP 5280 222.00 225.00 3.00 2.25 5.66
including CP 5280 228.00 232.50 4.50 3.38 5.35
UG-411 CP 5280 274.50 277.50 3.00 2.25 3.08
UG-412 CP 5280 225.50 231.50 6.00 5.00 4.76
UG-412 CP 5280 249.50 258.50 9.00 7.50 7.17
UG-412 CP 5280 285.50 291.50 6.00 5.00 3.37
UG-412 CP 5280 302.00 305.00 3.00 2.50 2.10
UG-412 CP 5280 309.50 312.50 3.00 2.50 4.37
UG-412 CP 5280 318.50 326.00 7.50 6.25 2.09
UG-414 CP 5440 107.00 110.00 3.00 2.50 2.30
UG-414 CP 5440 120.50 123.50 3.00 2.50 2.52
UG-414 CP 5440 134.00 137.00 3.00 2.50 2.12
UG-415 CP 5440 158.50 166.00 7.50 6.25 3.36
UG-415 CP 5440 181.00 184.00 3.00 2.45 2.76
UG-27 CP 4640 1.50 9.00 7.50 5.63 4.08
UG-27 CP 4640 160.00 169.00 9.00 6.75 3.45
UG-27 CP 4640 179.50 191.50 12.00 9.00 3.74
UG-27 CP 4640 194.50 202.00 7.50 5.63 3.06
UG-27 CP 4640 247.50 252.00 4.50 3.38 2.78
UG-27 CP 4640 269.50 272.50 3.00 2.25 3.13
UG-28 CP 4720 1.50 10.50 9.00 7.00 2.95
UG-28 CP 4720 196.50 201.00 4.50 3.50 2.29
UG-28 CP 4720 224.00 273.40 49.40 24.00 4.88
including CP 4720 224.00 231.50 7.50 3.64 5.70
including CP 4720 251.00 261.50 10.50 5.10 6.74
Note to Editors:
Further information about the Company:
Chaarat Gold Holdings Limited +44 (0) 20 7499 2612
c/o Central Asia Services Limited dekel(at)chaarat.com
linda.naylor(at)chaarat.com
Westhouse Securities Limited +44 (0) 20 7601 6100
Tim Feather tim.feather(at)westhousesecurities.com
Richard Baty richard.baty(at)westhousesecurities.com
Dominic Palmer-Tomkinson tomkinson(at)smiths-ca.com
Pelham Bell Pottinger +44 (0)20 7861 3232
Lorna Spears lspears(at)pelhambellpottinger.co.uk
Philippe Polman ppolman(at)pelhambellpottinger.co.uk
Note to Editors:
About Chaarat Gold
Chaarat Gold is an exploration and development company operating in the Kyrgyz
Republic. The Company's main activity is the development of the Kiziltash and
Tulkubash projects situated within the Middle Tien Shan Mountains of Kyrgyzstan,
which form part of the Tien Shan gold belt. The Company has delineated a JORC
compliant mineral resource of 4.406Moz at a grade of 4.20g/t gold across both
deposits. The Company is currently in the process of compiling a Pre-
Feasibility study on the Kiziltash project and a Definitive Feasibility Study on
the Tulkubash project. Chaarat's key objective is to become a low cost gold
producer; with initial production from the Tulkubash project in 2012, targeting
increased production of over 200,000 ounces per annum during 2014 from the
Kiziltash project.
www.chaarat.com
Competent Person
The Competent Person with overall responsibility for this press release, and who
has reviewed the information contained herein, is Sunit Patel M.Sc (Geology),
FGS, GSSA, who is an employee of Chaarat Gold. Mr. Patel is an exploration
geologist with more than 22 years of experience in the resource industry who has
sufficient experience relevant to the style of mineralisation and type of
deposit under consideration and was supervisor to the work subject of this
release.
Disclaimer
This press release includes forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other important
factors beyond Chaarat's control that would cause the actual results,
performance or achievements of Chaarat to be materially different from future
results, performance or achievements expressed or implied by such forward-
looking statements. Such forward-looking statements are based on numerous
assumptions regarding Chaarat's present and future business strategies and the
environment in which Chaarat will operate in the future. Any forward-looking
statements speak only as at the date of this document. Chaarat expressly
disclaims any obligation or undertaking to disseminate any updates or revisions
to any forward-looking statements contained in this document to reflect any
change in Chaarat's expectations with regard to these or any change in events,
conditions or circumstances on which any such statements are based. As a result
of these factors, the events described in the forward-looking statements in this
press release may not occur either partially or at all.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE
[HUG#1505727]
Unternehmensinformation / Kurzprofil:
Datum: 13.04.2011 - 08:16 Uhr
Sprache: Deutsch
News-ID 53453
Anzahl Zeichen: 10631
contact information:
Town:
British Virgin Islands
Kategorie:
Business News
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"Drilling update"
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