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Robert Friedland, founder and Chief Executive Officer of Ivanhoe Mines and Chairman of Altynalmas Gold, and David Woodall, President and Chief Executive Officer of Altynalmas Gold, announced a NI 43-101-compliant Mineral Resource estimate for the new Bakyrchik East Deposit at Altynalmas Gold’s Kyzyl Gold Project in northeastern Kazakhstan.
Ivanhoe Mines owns 50% of Altynalmas Gold. Roscoe Postle Associates Inc. (RPA), an internationally recognized consulting firm, estimates the Bakyrchik East Deposit at 6.8 million tonnes of Inferred Mineral Resources grading 6.0 grams of gold per tonne (g/t), containing 1.3 million ounces of gold. The Bakyrchik East Gold Deposit, consisting of the Globoki Log and Promezhutochny zones, is located 800 metres east along strike from the eastern edge of the main Bakyrchik Gold Deposit within the Kyzyl Shear Zone. The RPA estimate is based on drilling results that were available to July 11, 2011. “The continued success of our ongoing systematic and aggressive gold exploration program further confirms the scale and geological potential of the Kyzyl Gold System,” Mr. Woodall said. “These encouraging results increasing our Indicated and Inferred Mineral Resources to 6.217 and 3.611 million ounces of gold respectively, enhance our confidence that Altynalmas Gold can successfully implement our development plans and establish the Kyzyl Gold Project as a world-class operation.” More information, click here. |
