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CENTRAL ASIA RESOURCES LIMITED. - ASX: CVR
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Description
Central Asia Resources Limited is a gold and base metals exploration company transitioning to producer. Central Asia has acquired an indirect interest in gold exploration projects in the Republic of Kazakhstan (the “Projects”) and has commenced development of its first production site at Dalabai. Since listing on the ASX in 2007, the company has focussed on establishing JORC compliant Resource statements for its prospects and in March 2010 achieved a total gold inventory of ~1.2Moz with additional silver.
The Company’s strategic plan involves the 2010 development of a low capex, quick to production opportunity at its Dalabai project while concurrently investigating the larger Altyntas project subsequent production. The Company will also pursue other opportunities in Kazakhstan and other parts of Central Asia through acquisition or joint venture arrangement to enhance shareholder value.
Dalabai Project
Dalabai is a gold prospect 150km north of Almaty, Kazakhstan’s largest city. The 8km2 licence contains an area that has been mined via several small open pits with heap leach processing on site. Gold and Silver mineralisation occurs in secondary quartzites within volcanic formations An intensive drilling campaign during 2009 and 2010 produced the following Resource using a 0.2g/t cut off. The prospect area remains highly prospective for additional gold mineralisation.
Dalabai is intended to be the Company’s first production site. Construction at Dalabai is planned to commence late 2010 with full scale production (0.5Mtpa) targeted for the second half of 2011. Dalabai is an ideal first production site because:
* it is a series of simple, shallow open pit operations with mineralisation from surface and has an anticipated average grade of 1.5 – 2.0g/t gold plus silver credits – easy to mine and at low mining cost;
* it is a heap leach facility of modest size - low capital requirement;
* it has a simple mineralogy that responds well to conventional heap leaching - low processing risk;
* it is conveniently located near key infrastructure – power, people, rail, road – low capital and operating costs; and
* it was previously a heap leach operation and therefore has existing infrastructure on site – camp, site roads, dumps – further reducing capital costs and processing risk.
Altyntas Prospect
The Altyntas prospect is hosted in a quartz stockwork style mineralisation within dyke-form intrusive bodies of diorite-porphyrites. The host sediments and dykes exhibit moderate to strong chlorite and epidote alteration. The gold mineralisation is associated with pyrite and arsenopyrite associated with quartz veining. Altyntas continues to deliver exceptional results and is our flag ship prospect. Of particular importance is the amount of high grade material present at depths amenable to open pit mining. For example, applying a 0.7g/t cut off to the June 2009 Resource statement produces over 500,000oz at 2.27g/t gold.
Kepken Prospect
The Kepken Prospect, according to Russian category and previously estimated unclassified resources, is a low grade gold deposit with the potential to host in excess of one million ounces. Previous exploration identified a zone of gold mineralisation 2.4km in length and up to 250m deep. In May 2009 Central Asia announced the following revised Resource using a 0.2g/t Au cut off.
Kengir Prospect
The Kengir Prospect is located 10km south east of the Akbakai Gold Mine. The Kengir deposit is hosted in a gabbro-diorite body and the Kengir mineralisation has characteristics of a gold-copper porphyry system. A small open pit in the 1980s produced approximately 9,600 ounces of gold. In March 2008 Central Asia announced a Resource of 127,000 oz Au (Indicated and Inferred). Preliminary metallurgical testwork indicated that over 90% of gold can be recovered via simple flotation methods.
Bizhe
The 246km2 Bizhe prospect is 250km north of Almaty. The major Almaty-Taldy-Kurgan highway is in close proximity, as is the Company’s Dalabai gold prospect 18km away.
The geological composition and mineralization style is quite similar to Dalabai, with quartz veining zones within volcanic formations. The area is prospective for gold and silver and potential copper porphyry style mineralisation. Near the licence’s eastern border is the world renowned Koksai copper porphyry deposit.
Central Asia has acquired historical exploration data, including geo-chemistry works for the entire prospect, and this data reveals a number of gold, silver, copper, lead and zinc anomalies. Only some of these anomalies have been further explored with trenches and drilling.
The Company’s initial investigations at Bizhe have proved very encouraging with the discovery of surface gold via trenching extending for over 350m of strike. Better trench intersections include:
* 9m @ 4.29g/t gold
* 10m @ 2.91g/t gold
* 11m @ 23.6g/t gold
Mine For
gold, copper, iron ore, zinc, silver
Location of operation(s)
Kazakhstan
Address
Unit 4, 339 Cambridge St
WEMBLEY, WA, AUSTRALIA
Phone
(61 8) 9486 4788
Website
Last Updated
18/04/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
