Auriant Mining AB(publ) is pleased to announce the Kara-Beldyr JORC resources update.
Auriant Mining has developed a revised geological model of the Kara-Beldyr deposit. The new model was created to provide a better understanding of the Kara-Beldyr resource in preparation for possible future exploitation. An estimate of resources based on the revised geological model was made by Wardell Armstrong International, a UK based Engineering, Environmental and Mining consultancy group. According to the new resource estimate, Kara-Beldyr indicated resources amounted to 807 thousand ounces of gold (25.1 tons) with average grade of 2.63 g/t and 1,069 thousand ounces of silver (33.2 tons) with an average grade of 3.49 g/t. Inferred resources amounted to 55 thousand ounces of gold (1.7 tons) with an average grade of 3.55 g/t and 53 thousand ounces of silver (1.6 tons) with an average grade of 3.44 g/t. Total gold resources (both indicated and inferred) amounted to 26.8 tons of gold.
The initial estimate of resources of the Kara-Beldyr deposit under JORC was also made by Wardell Armstrong International in October 2016. As compared to the initial estimate, indicated resources increased by 30% (from 619 thousand to 807 thousand ounces), total gold resources increased by 5% (from 824 thousand to 862 thousand ounces). The grade in indicated resources increased by 8% (from 2.43 g/t to 2.63 g/t).
Based on the updated resource estimate, Auriant is confident of constructing a mining operation that would produce up to 2 tons of gold/year for over 10 years.
Sergey Ustimenko, CEO
tel: +7 495 660 22 20
e-mail: sergey.ustimenko@auriant.com
Company name: Auriant Mining AB
Short name: AUR
ISIN-code: SE0001337213
Website: www.auriant.com Twitter: @auriantmining
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 one operating mine (Tardan), one early stage exploration asset and two development assets.
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. 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 .
This information is information that Auriant Mining AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 10:00 CET on March 7th, 2016.
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
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