Name of the Project
Tulkubash oxide gold project.

Location
Kyrgyzstan.

Project Owner/s
Charaat Gold Holdings.

Project Description
The project has gold reserves of 571 100 oz and silver reserves of 845 700 oz mined over a current five-year life-of-mine.

The updated bankable feasibility study (BFS) envisages average gold production of 95 200 oz/y and silver production of 140 940 oz/y, with peak production during steady-state operations of more than 111 000 oz/y.

The project will use conventional openpit mining methods followed by standard heap-leach processing.

The heap-leach facility will process five-million tonnes a year.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an improved after-tax net present value, at a 5% discount rate, of $85-million and an internal rate of return of 25%.

Capital Expenditure
Preproduction capital costs are estimated at $115-million.

Planned Start/End Date
First gold is expected in 2024.

Latest Developments
The 2021 drilling programme at the Tulkubash project has added about a year to the project’s mine life, Chaarat Gold has reported.

Drilling has delivered a 13% increase in gold in the ore reserve to 647 000 oz at a grade of 0.87 g/t.

Contained gold in the measured and indicated resources remains unchanged at 789 000 oz, while measured and indicated resources have decreased from 28.5-million to 25.1-million tonnes and the gold grade has increased from 0.86 g/t to 0.98 g/t.

The inferred resources have decreased as a result of more conservative constraining factors applied to the mineral resource estimate.

To date, only about 5 km of a prospective 24 km trend has been trenched and drill tested, confirming prospectivity to the north-east

Key Contracts, Suppliers and Consultants
LogiProc (overall project management, minerals processing and metallurgical testing, recovery methods, project infrastructure, capital cost estimate, operating cost estimate, project execution plan); SMS (geological block model and associated data integrity, mining method review, economic analysis and ore reserve statement); WAI (environmental studies, permitting, social or community impact, geochemistry, hydrology, hydrogeology); and Ausenco (drilling, mineral resource review, sample preparation, data verification, analyses, security and heap-leach facility design).

Contact Details for Project Information
Charaat Gold Holdings, tel +44 20 7499 2612 or email info@chaarat.com.