The Kyzlbulag Contract Area is situated in the Karabakh Economic Region and is the location of the Demirli deposit.
The Kyzlbulag Contract Area in the Karabakh economic region contains several mines and has excellent potential for exploration, as indicated by the presence of many mineral deposits and known targets in the region. It also hosts a copper/molybdenum mine and an intact plant. The new Demirli concession contains the Demirli mining property. There are indications that up to 35,000 ounces of gold per year were extracted from the Kyzlbulag copper-gold mine, before the mine was closed several years ago, indicating the presence of a gold mineralising system.
Russian peacekeepers are currently present in the area ensuring the region is safe. The Government will use all its reasonable endeavours to ensure that the Company has physical access to the region to undertake mineral exploration.
