Russia's Seligdar obtains license for Fedorovskaya area in Yakutia with 3 tonnes of gold reserves

MOSCOW. Feb 3 (Interfax) - Seligdar Holding has obtained an exploration license for the Fedorovskaya area of the Elkon gold-uranium ore cluster in Yakutia, the company said.

The process is being carried out in cooperation with RosGeo (within the company holding the license, 75% belongs to Seligdar and the remaining shares are held by RG Partner and RG Project).

Seligdar is expecting a decision on a similar license for the Udachnaya area, which is also within the Elkon cluster.

Exploration, evaluation and expert review projects are planned for 2025.

As of early 2024, ore gold reserves at the Fedorovskaya area were estimated at 1.2 tonnes under category C2. Off-balance reserves are estimated at 2 tonnes. Silver reserves were estimated at 3.9 tonnes and off-balance reserves at 6.3 tonnes.

Seligdar is one of Russia's 10 largest gold miners. In addition to a gold cluster, Seligdar includes a tin cluster and other entities.