Auriant Mining AB has completed the 2013 on drilling programme at its Greater Tardan property. Greater Tardan is a 540 km 2 gold exploration and production property 100% owned by Auriant Mining located in the Republic of Tyva. The property includes the Tardan gold heap leach operation, which has C1 + C2 reserves of 214,000 oz as of Jan 1, 2013.
Tardan Highlights
On the Tardan deposit itself 12,032 metres of diamond drilling was undertaken on 8 ore zones (zones #s 2,3,4,5,6,14,15,16) aimed at proving up resources in order to transfer C2 resources into C1 reserves, and to increase overall gold resources for the mine.
The most significant intersections were:
· Ore zone #2 of 5.82 g/t over 3.0m
· Ore zone #3 of 7.41 g/t over 6.6m
· Ore zone #6 of 6.1 g/t over 12.4m
· Ore zone #14 of 3.28 g/t over 6.5m
· Ore zone #15 of 9.7 g/t over 7.0m
· Ore zone #16 of 2.39 g/t over 5.1m
Greater Tardan Highlights
Auriant initiated a diamond drilling programme of 8,768 metres at Greater Tardan on several interesting prospects previously identified through geophysical and geochemical work. The areas selected for drilling within the Greater Tardan license area were Yuzhno-Tardansky, Barsuchiy, Sorulug-Khem, and Kara-Sug.
The best drilling results were received at the Barsuchiy and Sorulug-Khem prospects.
· For Barsuchiy the most significant results were 7.6 g/t over 5.0m and 4.17 g/t over 18.6m
· For Sorulug-Khem the most significant result was 3.4 g/t over 7.0m
In addition the Kara-Sug prospect showed interesting copper mineralization with the best intersect showing 0.5% Cu over 19.7m, which included an interval of 2.2% over 1.0m.
As a result of the drilling programme, and in accordance with Russian regulations, a report with an updated reserve calculation for the Tardan deposit will be submitted to the State Reserves Committee (GKZ) in December 2013. Approval of the updated reserve calculation is expected by February 2014 after which Auriant will be able to report its updated reserves. Reserves for Greater Tardan (Barsuchiy prospect) are expected to be approved in Q1 2014.
For more detail please refer to the attached report.
For more information, please contact:
Max Yacoub, CIO
??? : +7 495 660 22 20
e-mail: max.yacoub@auriant.com
Company name: Auriant Mining AB
Short name: AUR
ISIN-code: SE0001337213
Website: www.auriant.com Twitter: @auriantmining
Postal and visiting address: Tulegatan 2 A
113 58 Stockholm, Sweden
Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in Zabaikalye and the Republics of Khakassia and Tyva. The company has currently four assets, including two operating mines (Tardan and Solcocon) and two early stage exploration assets, one of which, Kara-Beldyr, is a joint venture with the major Canadian gold producer Centerra Gold. The group’s mineral licenses are estimated to contain almost 1,000,000 troy ounces of gold reserves according to the Russian standards (GKZ).
Since July 19, 2010, Auriant Mining´s shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name AUR (before June 25, 2012 - under the short name CAG). For more information please visit www.auriant.com. Mangold Fondkommission is Certified Adviser to Auriant, for more information please call +46 8 503 015 50 or visit www.mangold.se.
Cautionary Statement: Statements and assumptions made in this report with respect to Auriant Mining AB’s (“AUR”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of AUR. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where AUR operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) AUR’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. AUR assumes no unconditional obligation to immediately update any such statements and/or forecasts
This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Auriant Mining AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.
