Trans-Siberian Gold PLC Updated Mineral Resource (6611I)

TIDMTSG

RNS Number : 6611I

Trans-Siberian Gold PLC

21 June 2017

Trans-Siberian Gold plc

("TSG" or the "Company")

Updated Mineral Resource

Trans-Siberian Gold plc ("TSG" or the "Company") (TSG.L) announces an update of the Mineral Resource estimate for the Asacha deposit in Kamchatka, Russia.

The updated Mineral Resource estimate was conducted by AranzGeo ("AGL"), based in Australia and classified according to the guidelines of the JORC Code (2012).

Mineral Resource Summary

The Mineral Resource estimate for Asacha as of 31 December 2016 is shown in the following table:

 
 Classification    Zone     '000       Au       Ag        Au          Ag 
                            tonnes    (g/t)    (g/t)    ('000oz)    ('000oz) 
----------------  ------  --------  -------  -------  ----------  ---------- 
 Measured          Main        110       16       25          57          87 
 Indicated         Main        567       20       61         362       1,110 
 Indicated         East          3       56       30           6           3 
 Total M&I                     681       19       55         424       1,200 
 Inferred          Main        101       14       32          45         100 
 Inferred          East        269       26       53         224         460 
 Total Inferred                370       23       47         269         560 
------------------------  --------  -------  -------  ----------  ---------- 
 

Notes:

   1.     Resources are reported above 4g/t cut-off grade 
   2.     Resources are reported after mining depletion. 
   3.     Tonnage and grades have been rounded 

The resource at Asacha occurs in two zones: the Main zone (currently being mined) and East zone (not yet mined). The Main zone comprises six defined veins, with the bulk of the resource contained in two of these, QV1 and QV2, while the East zone is comprised of three narrow vein structures.

The purpose of these annual updates is to incorporate new data available from mining development, and to account for mining depletion. In addition to mining development data for the 2016 mineral resource estimate on the Main zone veins, an update to the East zone QV25 with new exploration data was incorporated.

Year-on-Year Comparison

The following table illustrates the changes between the Mineral Resource estimate as of 31 December 2015 and the updated Mineral Resource estimate as of 31 December 2016:

 
 Description                                   Au          Ag 
                                             ('000oz)    ('000oz) 
-----------------------------------------  ----------  ---------- 
 Resource Estimate as at 31 December 
  2015                                            760       1,798 
 Mining depletion                                 -32         -51 
 Adjustment due to East Zone not 
  reported above 4g/t in 2015 (Inferred)          -29         -46 
 Difference due to model geometry 
  and grade estimation due to new 
  data                                             -6          59 
 Resource Estimate as at 31 December 
  2016                                            693       1,760 
-----------------------------------------  ----------  ---------- 
 

A copy of the updated Mineral Resource estimate is available on the Company's website at: http://www.trans-siberiangold.com

Competent Person Conclusion

The Competent Person, Ms. Carrie Nicholls, states:

"Based on the presence of the operating mine and mill, existing mine economics, the potential for incremental development access to deeper and more distal parts of the ore body, and the potential for further exploration success, it is considered that all the vein resources defined at Asacha have a reasonable prospect of eventual economic extraction."

Dmitry Khilov, CEO of TSG, commented:

"We are pleased with the results of the annual review of our mineral resources which indicate no material change and confirm high grades within the in-situ resources. Our team work hard on understanding the ore-body and continue to seek to enhance efficient ways of exploiting this excellent deposit."

 
  Contacts: TSG 
                             +44 (0) 7770 
 Simon Olsen                       484965 
                             +44 (0) 7799 
 Stewart Dickson                   694195 
 
                              +44 (0) 207 
 Cantor Fitzgerald Europe        894 7000 
 David Porter 
 

Competent Person

The updated Mineral Resource estimate was prepared by Ms. Carrie Nicholls (Senior Consultant, AranzGeo).

The information in this release that relates to the updated Mineral Resource estimate is based on, and fairly represents, information, which has been compiled by Ms. Nicholls.

Ms. Nicholls is a geologist with more than 14 years of experience in geo-statistical analysis, geological modelling and resource estimation. She has extensive experience in open pit gold mining operations in Africa and Venezuela and has undertaken geo-statistical and geological modelling work for a variety of deposits including gold, copper and niobium. She holds a B.Sc. (hons) degree in geology from Bristol University, UK and a M.Sc. in Mineral Resources from the University of Wales, Cardiff, UK. She is a member of the AusIMM and Geological Society of London.

Ms. Nicholls has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person, as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Ms. Nicholls is a full time employee of AranzGeo and has consented to the inclusion of the matters in this announcement based on the information in the form and context in which it appears.

Market Abuse Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Technical Glossary

 
 "cut-off grade"       the lowest grade, or quality, 
                        of mineralised material that 
                        qualifies as economically mineable 
                        and available in a given deposit. 
                        May be defined on the basis 
                        of economic evaluation, or on 
                        physical or chemical attributes 
                        that define an acceptable product 
                        specification. 
 "g/t"                 grams per tonne 
 "Indicated            a part of a Mineral Resource 
  mineral resource"     for which tonnage, densities, 
                        shape, physical characteristics, 
                        grade and mineral content can 
                        be estimated with a reasonable 
                        level of confidence. It is based 
                        on exploration, sampling and 
                        testing information gathered 
                        through appropriate techniques 
                        from locations such as outcrops, 
                        trenches, pits, workings and 
                        drill holes. The locations are 
                        too widely or inappropriately 
                        spaced to confirm geological 
                        and/or grade continuity but 
                        are spaced closely enough for 
                        continuity to be assumed 
 "Inferred mineral     a part of a Mineral Resource 
  resource"             for which tonnage, grade and 
                        mineral content can be estimated 
                        with a low level of confidence. 
                        It is inferred from geological 
                        evidence and assumed but not 
                        verified geological and/or grade 
                        continuity. It is based on information 
                        gathered through appropriate 
                        techniques from locations such 
                        as outcrops, trenches, pits, 
                        workings and drill holes which 
                        may be limited or of uncertain 
                        quality and reliability. 
 "JORC Code"           the code for reporting of the 
                        Australasian Joint Ore Reserves 
                        Committee, which is sponsored 
                        by the Australian mining industry 
                        and its professional organisations. 
                        The code is widely accepted 
                        as a standard for professional 
                        reporting purposes for reporting 
                        of mineral resources and ore 
                        reserves. 
 "Measured mineral     A part of a Mineral Resource 
  resource"             for which quantity, grade (or 
                        quality), densities, shape, 
                        and physical characteristics 
                        are estimated with confidence 
                        sufficient to allow the application 
                        of Modifying Factors to support 
                        detailed mine planning and evaluation 
                        of the economic viability of 
                        the deposit. 
  "Mineral Resource"   a concentration or occurrence 
                        of material of intrinsic economic 
                        interest in or on the Earth's 
                        crust in such form, quality 
                        and quantity that there are 
                        reasonable prospects for eventual 
                        economic extraction. The location, 
                        quantity, grade, geological 
                        characteristics and continuity 
                        of a Mineral Resource are known, 
                        estimated or interpreted from 

                        specific geological evidence 
                        and knowledge. Mineral Resources 
                        are sub-divided, in order of 
                        increasing geological confidence, 
                        into Inferred, Indicated and 
                        Measured categories. 
 "Mineralisation"      the process or processes by 
                        which a mineral is introduced 
                        into a rock, resulting in a 
                        valuable or potentially valuable 
                        deposit. It is a general term, 
                        incorporating various types; 
                        e.g., fissure filling, impregnation, 
                        and replacement. 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 21, 2017 02:00 ET (06:00 GMT)