GV Gold Won the bidding for the Maltan in YakutiaTGMC, JSC, the Taryn business unit of Vysochaishy PJSC (GV Gold), won the bidding for geological surveying, exploration and gold mining within the Maltan area in the Oimyakon District of the Republic of Sakha (Yakutia). The price will be 791 million rubles.
It is a 25-year exploration and production license that covers hardrock gold, placer gold and antimony. The site of 95 sq. km is located in the interfluve of the middle reaches of the Bolshoy Taryn and Maly Taryn rivers in the Indigirka river basin, and it's a part of the Adycha-Taryn gold-bearing zone. The C1+C2 category balance reserves of the Maltan area are amounted to 6,709 kg of hardrock gold, 1,789 kg of placer gold and 9,919 t of antimony. The average grade of hardrock gold in ore is 8.92 g/t. The P1 + P2 category prognostic resources of hardrock gold are estimated at 85.1 t of Au.
Once the license is granted, the Maltan area would be added to the assets portfolio of the Taryn business unit, significantly expanding the enterprise’s mineral resource base. The site proximity, only 35 km from the Drazhnoye deposit and 80 km southeast of the Ust-Nera settlement, will make it possible to develop the project using the experience and the infrastructure created for the Taryn Mine.
In 2022, GV Gold will start the preparation for the exploration aimed at further asset’s appraisal, drafting of the cutoff grade estimation report and registration of the reserves on the state balance for the purpose of their further involvement in production.
GV Gold (Vysochaishy, PJSC) is one of the largest and fastest growing Russian gold mining companies. It develops open pit deposits and washes gold at the country’s largest alluvial deposit. In 2020, its assets produced 272 koz of gold.
The Company’s key operating assets are located in the Irkutsk Region and the Republic of Sakha (Yakutia). The Company operates four mines with a total capacity of 10.5 Mtpa of ore and holds 38 mining and exploration licenses.
GV Gold boasts an extensive resource base, with JORC reserves and resources estimated at 5.3 Moz and 10.8 Moz, respectively.