TIDMTSG
RNS Number : 6611I
Trans-Siberian Gold PLC
21 June 2017
Trans-Siberian Gold plc
("TSG" or the "Company")
Updated Mineral Resource
Trans-Siberian Gold plc ("TSG" or the "Company") (TSG.L)
announces an update of the Mineral Resource estimate for the Asacha
deposit in Kamchatka, Russia.
The updated Mineral Resource estimate was conducted by AranzGeo
("AGL"), based in Australia and classified according to the
guidelines of the JORC Code (2012).
Mineral Resource Summary
The Mineral Resource estimate for Asacha as of 31 December 2016
is shown in the following table:
Classification Zone '000 Au Ag Au Ag
tonnes (g/t) (g/t) ('000oz) ('000oz)
---------------- ------ -------- ------- ------- ---------- ----------
Measured Main 110 16 25 57 87
Indicated Main 567 20 61 362 1,110
Indicated East 3 56 30 6 3
Total M&I 681 19 55 424 1,200
Inferred Main 101 14 32 45 100
Inferred East 269 26 53 224 460
Total Inferred 370 23 47 269 560
------------------------ -------- ------- ------- ---------- ----------
Notes:
1. Resources are reported above 4g/t cut-off grade
2. Resources are reported after mining depletion.
3. Tonnage and grades have been rounded
The resource at Asacha occurs in two zones: the Main zone
(currently being mined) and East zone (not yet mined). The Main
zone comprises six defined veins, with the bulk of the resource
contained in two of these, QV1 and QV2, while the East zone is
comprised of three narrow vein structures.
The purpose of these annual updates is to incorporate new data
available from mining development, and to account for mining
depletion. In addition to mining development data for the 2016
mineral resource estimate on the Main zone veins, an update to the
East zone QV25 with new exploration data was incorporated.
Year-on-Year Comparison
The following table illustrates the changes between the Mineral
Resource estimate as of 31 December 2015 and the updated Mineral
Resource estimate as of 31 December 2016:
Description Au Ag
('000oz) ('000oz)
----------------------------------------- ---------- ----------
Resource Estimate as at 31 December
2015 760 1,798
Mining depletion -32 -51
Adjustment due to East Zone not
reported above 4g/t in 2015 (Inferred) -29 -46
Difference due to model geometry
and grade estimation due to new
data -6 59
Resource Estimate as at 31 December
2016 693 1,760
----------------------------------------- ---------- ----------
A copy of the updated Mineral Resource estimate is available on
the Company's website at: http://www.trans-siberiangold.com
Competent Person Conclusion
The Competent Person, Ms. Carrie Nicholls, states:
"Based on the presence of the operating mine and mill, existing
mine economics, the potential for incremental development access to
deeper and more distal parts of the ore body, and the potential for
further exploration success, it is considered that all the vein
resources defined at Asacha have a reasonable prospect of eventual
economic extraction."
Dmitry Khilov, CEO of TSG, commented:
"We are pleased with the results of the annual review of our
mineral resources which indicate no material change and confirm
high grades within the in-situ resources. Our team work hard on
understanding the ore-body and continue to seek to enhance
efficient ways of exploiting this excellent deposit."
Contacts: TSG
+44 (0) 7770
Simon Olsen 484965
+44 (0) 7799
Stewart Dickson 694195
+44 (0) 207
Cantor Fitzgerald Europe 894 7000
David Porter
Competent Person
The updated Mineral Resource estimate was prepared by Ms. Carrie
Nicholls (Senior Consultant, AranzGeo).
The information in this release that relates to the updated
Mineral Resource estimate is based on, and fairly represents,
information, which has been compiled by Ms. Nicholls.
Ms. Nicholls is a geologist with more than 14 years of
experience in geo-statistical analysis, geological modelling and
resource estimation. She has extensive experience in open pit gold
mining operations in Africa and Venezuela and has undertaken
geo-statistical and geological modelling work for a variety of
deposits including gold, copper and niobium. She holds a B.Sc.
(hons) degree in geology from Bristol University, UK and a M.Sc. in
Mineral Resources from the University of Wales, Cardiff, UK. She is
a member of the AusIMM and Geological Society of London.
Ms. Nicholls has sufficient experience relevant to the styles of
mineralisation and type of deposit under consideration and to the
activity that is being undertaken to qualify as a Competent Person,
as defined in the 2012 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves". Ms. Nicholls is a full time employee of AranzGeo and has
consented to the inclusion of the matters in this announcement
based on the information in the form and context in which it
appears.
Market Abuse Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
Technical Glossary
"cut-off grade" the lowest grade, or quality,
of mineralised material that
qualifies as economically mineable
and available in a given deposit.
May be defined on the basis
of economic evaluation, or on
physical or chemical attributes
that define an acceptable product
specification.
"g/t" grams per tonne
"Indicated a part of a Mineral Resource
mineral resource" for which tonnage, densities,
shape, physical characteristics,
grade and mineral content can
be estimated with a reasonable
level of confidence. It is based
on exploration, sampling and
testing information gathered
through appropriate techniques
from locations such as outcrops,
trenches, pits, workings and
drill holes. The locations are
too widely or inappropriately
spaced to confirm geological
and/or grade continuity but
are spaced closely enough for
continuity to be assumed
"Inferred mineral a part of a Mineral Resource
resource" for which tonnage, grade and
mineral content can be estimated
with a low level of confidence.
It is inferred from geological
evidence and assumed but not
verified geological and/or grade
continuity. It is based on information
gathered through appropriate
techniques from locations such
as outcrops, trenches, pits,
workings and drill holes which
may be limited or of uncertain
quality and reliability.
"JORC Code" the code for reporting of the
Australasian Joint Ore Reserves
Committee, which is sponsored
by the Australian mining industry
and its professional organisations.
The code is widely accepted
as a standard for professional
reporting purposes for reporting
of mineral resources and ore
reserves.
"Measured mineral A part of a Mineral Resource
resource" for which quantity, grade (or
quality), densities, shape,
and physical characteristics
are estimated with confidence
sufficient to allow the application
of Modifying Factors to support
detailed mine planning and evaluation
of the economic viability of
the deposit.
"Mineral Resource" a concentration or occurrence
of material of intrinsic economic
interest in or on the Earth's
crust in such form, quality
and quantity that there are
reasonable prospects for eventual
economic extraction. The location,
quantity, grade, geological
characteristics and continuity
of a Mineral Resource are known,
estimated or interpreted from
specific geological evidence
and knowledge. Mineral Resources
are sub-divided, in order of
increasing geological confidence,
into Inferred, Indicated and
Measured categories.
"Mineralisation" the process or processes by
which a mineral is introduced
into a rock, resulting in a
valuable or potentially valuable
deposit. It is a general term,
incorporating various types;
e.g., fissure filling, impregnation,
and replacement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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