Pavlik mining co discovers deposit with 43 tonnes of gold in Russia's Magadan region

MOSCOW. Jan 21 (Interfax) - The Pavlik gold mining company discovered the Zolotaya Rechka deposit in Russia's Magadan region in January, receiving a development license as official discoverer.

The Russian Natural Resources Ministry told Interfax that the property contained commercial C1+C2 reserves of 14 tonnes of gold and 3.6 tonnes of silver and non-commercial reserves of 28.7 tonnes of gold and 7.4 tonnes of silver.

Zolotaya Rechka is located on the southwestern flank of the Pavlik ore field. It was allocated by Polyus in the 2000s following geological exploration within the Omchak ore cluster.

The Magadan regional government said Pavlik mined 12.8 tonnes of gold at the Pavlik deposit in 2024, up 38% from 2023. The company commissioned the second stage of a gold recovery plant in 2023. The company itself does not disclose operating results.

The mine at the Pavlik field in the Magadan region was commissioned in 2015 and is now one of Russia's top 15 gold producers. The Arlan investment company runs the mine.