In July 2010 “Sagamar" CJSC obtained a license to conduct exploration works in the basin of Black and Yellow rivers. Exploration license covers an area of 69.6 square kilometers, with the band width of 3-4 km and length of 18 km east-west strike.
On the area of license exploration and mining, operations were carried out for a long time. Small deposits of copper and massive pyrite in this area were found and exploited for sulfur production. On the territory there are several old mining tunnels and platforms for boreholes. No occurrence of gold was previously known in the license area. Rudokop ore occurrence was discovered by our company as a result of drilling in 2008.
In the first stage, oxidized ore suitable for direct leaching will be mined. Oxidized ore constitutes about 2,188 thous. tons with an average grade of Au 0.9 g / t (about 2 tons of metal).
Drilling operations will be conducted with the beginning of the field season of 2011 and further on to replenish the reserve base.