Seligdar obtains license for flanks at Kyuchus ore deposit with resources of 32.8 tonnes of gold

MOSCOW. Aug 22 (Interfax) - White Gold LLC, controlled by the Seligdar holding, has obtained a declarative license for geological exploration of the flanks at the Kyuchus ore deposit, the Russian gold and tin miner said in a press release.

According to Seligdar, the predicted resources at the P3 category site total 32.8 tonnes of gold.

The license is valid until 2030.

White Gold in 2021 won an auction for the right to develop the Kyuchus hardrock gold deposit, which is part of the Kyuchus ore field. Studying the flanks is part of the project to develop the Kyuchus deposit, and should allow extending development of the deposit.

Exploration drilling began at Kyuchus in April 2022, and work has now been completed, with the deposit's reserves totaling 175 tonnes of gold. The reserves are expected to increase to 250-280 tonnes of gold following additional exploration of the deposit and its flanks.