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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Marakand | LSE:MKD | London | Ordinary Share | GB0033883835 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.10 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1951B Marakand Minerals Limited 26 July 2004 MARAKAND DOUBLES ITS SILVER RESOURCE POTENTIAL London, 26 July 2004 Marakand Minerals Limited ("Marakand") wishes to announce that a Co-operation Agreement has been signed with the State Committee of Geology of the Republic of Tajikistan ("Tajik Geology"), allowing Marakand exclusive-rights to proceed with exploration and evaluation of the high-grade Akjilga Silver Deposit and surrounding exploration area. Combined with the Khandiza Deposit in Uzbekistan, Akjilga will more than double Marakand's silver resource potential. On instruction from the Tajik Government, Marakand and Tajik Geology are currently finalising licensing documentation. Akjilga is located in Eastern Tajikistan between the towns of Khorog and Murgab near an ancient Samanid (8th - 9th century) mining settlement. Tajik Geology estimates resources at Akjilga to contain over 67 million ounces silver, with average grades of over 2000 g/t. Akjilga - Resource Grades (Soviet Classification) Category Resource Silver Copper Antimony Bismuth (t) (g/t) % % % C2 168,700 2,190 0.82 1.30 0.13 P1 819,600 2,099 0.69 0.68 0.11 -------- -------- -------- -------- -------- -------- TOTAL 988,300 2,114 0.71 0.78 0.11 Akjilga - Contained Metal (Soviet Classification) Silver Copper Antimony Bismuth (M oz) (t) (t) (t) C2 11.9 1,380 2,190 214 P1 55.3 5,626 5,549 908 -------- -------- -------- -------- -------- -------- TOTAL 67.2 7,006 7,739 1,122 Source: Tajik Geology Alasdair Stuart, Marakand CEO, commented, "Akjilga is a unique opportunity and an exciting new exploration and development prospect for Marakand, which would both expand and diversify our Central Asian resource base. A team from Marakand is already working with Tajik Geology on finalising licensing documentation whilst evaluating existing exploration data." Khandiza and Akjilga Combined Resource Potential Deposit Resource Silver Zinc Lead Copper Gold classification (M oz) (000 t) (000 t) (000 t) (000 oz) Khandiza Measured & 60.2 1,075 525 129 142.5 Indicated * Akjilga C2 & P1 (Soviet) 67.2 - - 7 - * Khandiza is classified under JORC (Joint Ore Reserves Committee of the Australian Institute of Mining and Metallurgy) Khandiza Feasibility Study Update Marakand also wishes to report that considerable progress has been made towards completion of its Feasibility Study on the Khandiza zinc/silver deposit in Uzbekistan. The Board decided it appropriate to conduct a final mineral processing review by the end of August, and to use this time to further advance the environmental impact assessment of the project. Independent specialist consultants are conducting both of these tasks. On completion, the feasibility study report will be submitted to both the Marakand Board and the Uzbek Government in September, for final approval to proceed with project funding and construction. This funding phase is still anticipated in the fourth quarter 2004. Marakand Minerals is a mining exploration and development company focused in Central Asia, and listed on the Alternative Investment Market (AIM) in London, ticker symbol MKD.L. Ends. For further information, please contact: Joanna Solino Alex Buck Marakand Minerals Buck Communications Tel: 020 7907 2000 Tel: 07932 740 452 This information is provided by RNS The company news service from the London Stock Exchange END MSCUSUBRSBRBUAR
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