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GV Gold (Vysochaishy, OJSC) expands its exploration projects

The Company is pleased to announce, that on October 15 it was granted the licenses for geological surveying of the Patomsky and Zapadny Dokukan sites of the Bodaibo Area (Irkutsk Region) valid for 5 years.

The first of them has the area of 125.61 sq.km and is located on the continuation of the earlier-identified ore bearing structures of the Ykanskoye deposit within the Marakan ore cluster, the second one has the area of 28.11 sq. km and is located next to the ore transportation road linking the Ugakhan deposit with the Golets Vysochaishy mine.

The Company highly estimates the resource potential of these sites and counts on identification (via the exploration operations) of the assets, which can serve as the additional resource base for its existing (Marakan, Vysochaishy) and constructed (Ugakhan) mining and processing complexes.