Ore Reserves
At present, the Group uses the Former Soviet Union classification system in which mineralisation is divided into seven categories of three major groups, based on the level of exploration completed. Explored reserves are categorised as A, B or C1, evaluated reserves are designated C2 and prognostic resources as P1, P2, or P3.
The Group has gold reserves and resources of 46.6m oz*, split between its three principal mines: Aksu (44p.c.); Zholymbet (33p.c.); Bestobe (23p.c.). Of the total reserves (B+C1) of 13.2m oz, 44p.c. is underground; 41p.c. open pit; 9p.c. low-grade dumps; 6p.c. tailings.
Whilst the Group's properties benefit from a large quantity of resource data compiled during the Soviet era, this information requires independent reviewing and validation in order to convert it to JORC standards. To this end, Wardell Armstrong International was appointed in mid-2006 to begin the initial stage of this validation and convertion and it expects to complete the reclassification of reserves at KazakhGold's three principal mines (B+C1 – 13.2m oz) during the first quarter of 2007. This is likely to be followed by the reclassification of the resources (C2 +P1 – 33.4m oz) to JORC standards by the end of 2007.
|
Ore Reserves/Resources* (Soviet Classification) | |||
|---|---|---|---|
|
Tonnes (000) |
Grade (g/tonne) |
Gold (m oz) | |
|
Reserves (B+C1) |
161.6 |
2.55 |
13.2 |
|
Resources (C2) |
54.8 |
6.92 |
12.2 |
|
Resources (P1) |
139.4 |
4.73 |
21.2 |
|
Total Reserves + Resources (B+C1+C2+P1) |
355.8 |
4.08 |
46.6 |
|
Reserves (B+C1) by mine* | |
|---|---|
|
Aksu |
44p.c. |
|
Zholymbet |
33p.c. |
|
Bestobet |
23p.c. |
|
Reserves (B+C1) by source* | |
|---|---|
|
Underground |
44p.c. @ 9.84g/t gold |
|
Open Pit |
41p.c. @ 2.03g/t gold |
|
Dumps |
9p.c. @ 1.07g/t gold |
|
Tailings |
6p.c. @ 0.99g/t gold |
- As at June 2005 (excludes new acquisitions)