Georgian Mining Corp (LON:GEO) Managing Director Greg Kuenzel talks to DirectorsTalk about it’s maiden gold resource at Gold Zone 2 exceeding the initial target of 750kt to 1Mt at 1 g/t Au. Greg talks us through the highlights of the findings and now that the metallurgical test work is 95% complete explains what what happens next.
Georgian Mining Corp has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines. The Bolnisi licence covers an area of over 860 sq km and has a 30-year mining licence with two advanced exploration projects; Kvemo Bolnisi and Tsitsel Sopeli. These projects are nearby existing mining operations owned by the Company’s supportive joint venture partner. Georgia has an established mining code and is a jurisdiction open to direct foreign investment.
The Company is developing the project in three phases:
· Phase 1: H1 2017 target to delineate a minimum of 1-2 Mt to support initial spare capacity (now achieved and exceeded)
· Phase 2: 2017 target to delineate a 3-5 Mt resource of combined copper-gold sulphide and gold oxide mineralisation (on target)
· Phase 3: Long term target – to delineate a resource of 50Mt+