Poputninskoe

License: # ККРР 14146 БР (instead of КРР 13360 БР)

Given: 04.07.2007

Validity: 01.11.2005 until the first stage of completion on 01.10.2009
 
License Purpose: geological study, exploration and gold mining within the Razdolninskiy ore unit

Name of the geological project: project for conducting exploration work on Poputninskoe deposit

Registration: #16-06-06/2

Confirmed on: 26.12.2005

Project Area: 1.7 км2

Total work period:
beginning on: fourth quarter of 2005
finish on: fourth quarter of 2009.

Estimated Project Cost: 247.8 mln rubles

Work stage: exploration

Main geological tasks and other work:
the project includes:
1. the study of geological structure of the deposit and its unique structural features;
2. the study of morphology and conditions of the bedding of ore bodies in enough detail to determine the grade of reserves in C1 and C2 categories;
3. the study of the physical composition and the technological properties of ore;
4. the study of hydrological and mine-engineering conditions for processing the deposit;
5. the development and assertion of the conditions;

Expected project result (increase in the reserves and resources): as a result of the completion of the works, the reserves of the deposit will be explored in C1 and C2 categories, the physical composition will be studied; as well, the hydrological and mining-technical specifications for processing the deposit.  TEO for the constant exploration conditions will be developed, and an estimation of the industrial value of the deposit will be done

Expected increase in the reserves: С1 – 8 t, С2 – 12 t, Р1 – 50 t.

Total cost until 01.01.08: 61.9 mln rubles

Total cost for the year 2007: 61.9 mln rubles

Due date for the report with a calculation of the reserves, established in the license: October 1, 2009.