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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Trans-siberian Gold Plc | LSE:TSG | London | Ordinary Share | GB0033756866 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 117.50 | 116.00 | 119.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMTSG
RNS Number : 6024S
Trans-Siberian Gold PLC
10 July 2020
http://www.rns-pdf.londonstockexchange.com/rns/6024S_1-2020-7-9.pdf
10 July 2020
Trans-Siberian Gold plc
("TSG", the "Company" or the "Group")
Vein 25 development well advanced in the
East Zone of the Asacha Gold Mine
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold producer in Kamchatka, Russia, is pleased to announce that the development of Vein 25 ("V25") in the East Zone of the Company's operating Asacha Gold Mine is progressing well.
Alexander Dorogov, CEO of Trans-Siberian Gold commented:
"We are excited to report the progress being made at Vein 25. Our mine development is on track and high grade results are being generated from channel sampling and high recoveries from bulk sampling activities. Bringing V25 in the East Zone into commercial production will be a significant milestone for the Company. It is a higher-grade deposit than the Main Zone and will make a significant contribution to maintaining high-grade gold production from the Asacha Gold Mine. It is pleasing to have our mine development work ahead of schedule and in line with our cost expectations."
Highlights
-- Mine development works to enable commercial production from V25 are on track
-- Total volume of access development work for stripping V25 completed to date is approximately 15,400m(3)
-- Exploration development has enabled channel sampling producing excellent results, including:
o Level 200: average thickness of 1.6 metres with an average gold grade 56.2 g/t
o Level 170: average thickness of 1.4 metres with an average gold grade 51.4 g/t
-- Since April 2020, approximately 9,488 tonnes of ore with an average gold grade of 19.8 g/t have been extracted from Vein 25 and processed producing approximately 6,028 oz of gold
-- Ore is very similar to that found in the Main Zone with high recovery rates of +94% from existing plant
-- The volume of ore mined from Vein 25 will continue to increase as the emphasis of the mine plan for Asacha transitions from the Main Zone to the East Zone
The Group is pleased to report that mine development[1] works are well advanced. V25 is located in the East Zone of the Asacha Gold Mine and has not been previously mined.
Mine development
An exploratory adit has accessed V25 and exploratory drifts cutting across and along the strike of the ore body have been started at levels 170 and 200. These workings total approximately 240 metres. A transportation adit of approximately 59 metres in length has also been completed. The total volume of mine development on V25 completed to date is approximately 15,400m(3) .
Channel sampling
The exploration development have enabled channel sampling to be conducted at both level 170 and 200, producing very high grade gold results. In level 200, channel sampling results along 63 metres of the vein show an average thickness of 1.6 metres with an average gold grade of 56.2 g/t. In level 170, the results of channel sampling in the face of the stope returned an average thickness of 1.4 metres with average gold grade of 51.4 g/t.
Table 1. Channel Sampling Results at Vein 25
Hot Features
Premium
Level 200 Level 170
----------------------------------
Sample ID Thickness Avg. Gold Sample ID Thickness Avg. Gold
# Grade # Grade
---------- ---------- ---------- ---------- ---------- ----------
(m) (g/t) (m) (g/t)
---------- ---------- ---------- ---------- ---------- ----------
1 0.6 17.95 1 0.8 5.00
---------- ---------- ---------- ---------- ---------- ----------
2 0.8 0.36 2 1.9 119.98
---------- ---------- ---------- ---------- ---------- ----------
3 2 1.22 3 1.0 31.26
---------- ---------- ---------- ---------- ---------- ----------
4 1.8 8.59 4 0.7 40.61
---------- ---------- ---------- ---------- ---------- ----------
5 2.4 15.76 5 1.8 34.35
---------- ---------- ---------- ---------- ---------- ----------
6 2.0 51.7 6 1.2 37.07
---------- ---------- ---------- ---------- ---------- ----------
7 2.7 60.98 7 2.0 102.10
---------- ---------- ---------- ---------- ---------- ----------
8 3.0 58.85 8 2.2 88.74
---------- ---------- ---------- ---------- ---------- ----------
9 2.4 32.48 9 1.7 29.42
---------- ---------- ---------- ---------- ---------- ----------
10 2.0 88.66 10 0.8 32.39
---------- ---------- ---------- ---------- ---------- ----------
11 1.6 98.01 11 1.0 38.90
---------- ---------- ---------- ---------- ---------- ----------
12 2.3 87.07 12 0.6 26.41
---------- ---------- ---------- ---------- ---------- ----------
13 1.4 149.66 13 0.4 22.75
---------- ---------- ---------- ---------- ---------- ----------
14 2.6 56.29 14 0.5 136.79
---------- ---------- ---------- ---------- ---------- ----------
15 3.0 56.48 15 0.7 22.67
---------- ---------- ---------- ---------- ---------- ----------
16 2.0 33.15 16 1.0 35.33
---------- ---------- ---------- ---------- ---------- ----------
17 1.6 22.6 17 0.8 37.36
---------- ---------- ---------- ---------- ---------- ----------
18 1.9 48.42 18 1.0 45.14
---------- ---------- ---------- ---------- ---------- ----------
19 1.0 56.72 19 1.6 21.61
---------- ---------- ---------- ---------- ---------- ----------
20 1.0 135.74 20 1.9 76.91
---------- ---------- ---------- ---------- ---------- ----------
21 0.6 22.61 21 1.3 52.87
---------- ---------- ---------- ---------- ---------- ----------
22 0.6 25.21 22 1.8 50.57
---------- ---------- ---------- ---------- ---------- ----------
23 1.0 39.8 23 1.2 31.32
---------- ---------- ---------- ---------- ---------- ----------
24 0.5 24.27 24 1.7 26.77
---------- ---------- ---------- ---------- ---------- ----------
25 0.7 56.93 25 2.0 18.10
---------- ---------- ---------- ---------- ---------- ----------
26 0.7 23.82 26 2.9 31.57
---------- ---------- ---------- ---------- ---------- ----------
27 0.5 38.07 27 2.9 34.04
---------- ---------- ---------- ---------- ---------- ----------
28 2.4 94.7 28 1.8 122.70
---------- ---------- ---------- ---------- ---------- ----------
29 2.1 64.22 29 1.3 60.05
---------- ---------- ---------- ---------- ---------- ----------
30 1.6 146.7 - - -
---------- ---------- ---------- ---------- ---------- ----------
31 2.2 37.26 - - -
---------- ---------- ---------- ---------- ---------- ----------
32 1.0 51.49 - - -
---------- ---------- ---------- ---------- ---------- ----------
Average 1.6 56.2 Average 1.4 51.4
---------- ---------- ---------- ---------- ---------- ----------
Figure 1. Channel Sampling locations at Vein 25
Level 200 Level 170
----------
In addition, exploration works have discovered the ore body at secondary veinlet of Vein 25, which was not previously known. The results of channel sampling along 23 metres and 24 metres at levels 200 and 170, are shown below:
Table 2. Channel Sampling Results at veinlet of Vein 25
Level 200 Level 170
--------------------------------------
Sample ID Thickness Avg. Gold Sample ID Thickness Avg. Gold
# Grade # Grade
-------------- ---------- ---------- -------------- ---------- ----------
(m) (g/t) (m) (g/t)
-------------- ---------- ---------- -------------- ---------- ----------
1 1.0 1,204.23 1 0.5 75.96
-------------- ---------- ---------- -------------- ---------- ----------
2 0.6 22.43 2 0.5 65.8
-------------- ---------- ---------- -------------- ---------- ----------
3 0.6 3.52 3 0.7 38.9
-------------- ---------- ---------- -------------- ---------- ----------
4 0.6 16.73 4 0.3 34.68
-------------- ---------- ---------- -------------- ---------- ----------
5 0.6 4.55 5 0.7 7.49
-------------- ---------- ---------- -------------- ---------- ----------
6 0.7 12.72 - - -
-------------- ---------- ---------- -------------- ---------- ---------- 7 0.8 4.05 - - - -------------- ---------- ---------- -------------- ---------- ---------- Average 0.7 254.0 Average 0.5 42.1 -------------- ---------- ---------- -------------- ---------- ---------- Average Average with capping 0.7 12.3 with capping 0.5 28.0 -------------- ---------- ---------- -------------- ---------- ----------
Gold production from exploration workings and bulk sampling
The Company has processed ore extracted from Vein 25 through the existing plant at the Asacha Gold Mine for metallurgical testing. The ore is very similar to that found in the Main Zone with gold recovery rates of +94%. Since April 2020, approximately 9,488 tonnes of ore with average gold grade of 19.8 g/t Au has been extracted from Vein 25 and processed producing approximately 6,028 oz of gold.
This testing has enabled the validation of the grade of the orebody at Vein 25 and also the processing ability of the existing plant to commercially produce gold from Vein 25.
Outlook
As the year progresses, the Group anticipates that ore mined from Vein 25 will continue to increase as the emphasis of the mine plan for Asacha transitions from the Main Zone to the East Zone. The Group expect that mine development will continue to produce saleable gold. The Company's production and dividend guidance remains unchanged.
TSG expects to report production results from the Asacha Gold Mine for the second quarter of 2020 in mid-July 2020.
ENDS
Contacts TSG Stewart Dickson +44 (0) 7799 694195 Arden Partners plc Paul Shackleton (Corporate Finance) Tim Dainton / Fraser Marshall (Equity Sales) +44 (0) 207 614 5900 Hudson Sandler (Financial PR) +44 (0) 207 796 4133 Charlie Jack / Katerina Parker / Elfreda Kent
About TSG
TSG is focused on low cost, high grade mining operations and stable gold production from its 100% owned Asacha Gold Mine in Far East Russia. The Company also holds the licence for the development and exploration of the Rodnikova deposit, one of the largest gold fields in South Kamchatka.
Additional information , including figures and table of this press release, is available from the Company's website: www.trans-siberiangold.com
Qualified Person Review
Information in this announcement that relates to exploration results is based on information compiled by Mr. Jacquelin Gauthier, P.Geo., a consulting geologist to Trans-Siberian Gold plc. Mr Gauthier has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a "Qualified Person" pursuant to Canada National Instrument 43-101 and a "Competent Person" in accordance with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr Gauthier consents to the inclusion in the announcement of the matters based on the information in the form and context in which it appears .
Glossary of Technical Terms
"Au" Chemical symbol for gold
"Ag" Chemical symbol for silver
"g/t" grams per tonne, equivalent to parts per million
"JORC" The Australasian Joint Ore Reserves Committee Code
for Reporting of Exploration Results, Mineral Resources
and Ore Reserves 2012 (the "JORC Code" or "the Code").
The Code sets out minimum standards, recommendations
and guidelines for Public Reporting in Australasia
of Exploration Results, Mineral Resources and Ore
Reserves
"koz" thousand troy ounces of gold
"m' metre
"Mt" million tonnes
"oz" troy ounce (= 31.103477 grams)
"t" tonne (= 1 million grammes)
Market Abuse Regulations
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.
Disclaimer
This announcement contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets, fluctuations in interest and/or exchange rates and metal prices; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements.
[1] Operations involved in preparing a mine for ore extraction
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
UPDBCGDRUDGDGGC
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July 10, 2020 02:00 ET (06:00 GMT)
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