Chaarat Gold Holdings Ltd (AIM:CGH) has completed its 2021 drilling programme at the Kyzyltash project in Kyrgyzstan.

The drilling intersected significant high grade gold within the current JORC compliant measured, indicated and inferred sulphide resource of 5.4 million ounces at 3.8 grams per tonne.

The drill core will be used to determine the appropriate processing route for the sulphide ore.

Once funded, designed, and constructed, the production rate is expected to be approximately 300,000 ounces annually.

Among the highlights from the campaign were 44 metres of 5.75 grams per tonne gold and 24.5 metres of 5.7 grams.

The process of selecting two representative composite samples is currently underway, with shipment to SGS Lakefield planned for November 2021.

Results from the SGS Lakefield testwork are expected in the first half of 2022. This information will be used to determine the preferred flowsheet and engineering solution during the feasibility study update for the Kyzyltash project.

“The development and exploration of Tulkubash and Kyzyltash projects is continuing on multiple fronts,” said Dimitar Dimitrov, senior vice president geology of Chaarat.

“Completion of the Kyzyltash metallurgical drilling has provided solid confirmation regarding the previously defined JORC-compliant resource. The core collected will enable us to determine the appropriate processing option to unlock the significant value of this project. I am very glad to see the recent confirmation of the high-grade nature of the most significant ore bodies at Contact and Main zones of the Kyzyltash gold deposit.”

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