Operations

Gosha Contract Area

Gosha Contract Area

1. Introduction

The 300 square kilometre Gosha Contract Area is situated 50 kilometres north-west of Gedabek and contains at least nine mineralised zones. Gosha has more than 6 kilometres of exploration adits from the Soviet-era, of which the richest mineralised zone has a prospect of narrow vein type gold deposit.

2. Mining operations and resources

Mining commenced at Gosha in the first quarter of 2014.

During the development and early production of the Gosha mine, it became evident that the initial estimated ore vein thickness was not as expected. This not only affected the resource estimate but also resulted in changes in mining method to decrease dilution during mining. Currently, based on a non-JORC report by SRK, the Gosha resource is about 40,000 ounces of gold (140,000 tonnes of ore grading 9 grammes per tonne – all figures in situ and before dilution). This ore resource will be mined from 2015 to 2017.

A total of 14,981 tonnes of ore of average grade 6.15 grammes per tonne were mined at Gosha in the year ended 31 December 2015.

3. Processing

Ore mined at Gosha is transported to the Gedabek site for processing.

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