New diamond drill results continue to confirm gold grades at the Koktasjal copper-gold porphyry deposit in central Kazakhstan, reports Ursa Major International (URSA-C).
Based on drilling carried out in the 1960s by Soviet geologists, the deposit’s sulphide zone contains 57 million tonnes averaging 0.62% copper, 0.71 gram gold and 2.76 grams silver per tonne to a depth of 305 metres. To confirm the calculations, Ursa Major launched an exploration program consisting of 2,450 metres of diamond drilling, plus trenching, geological mapping and geophysical surveying.
Last winter, the company completed its first two drill holes, results from which were consistent with, and even higher than, the Soviet grades. Results from three more recent holes have lent further credence to the Soviet findings.
Hole C-105, collared in the southeastern part of the deposit, contained 183 metres (from 46.9 to 229.9 metres) grading 0.65% copper and 0.52 gram gold, including 85.4 metres (from 144.5 to 229.9 metres) grading 0.86% copper and 0.71 gram gold. Holes C-103 and 104 were each collared in the northwestern part of the deposit. Highlights from the two holes include: 96.2 metres (from 235.1 to 331.3 metres) grading 0.45% copper and 0.44 gram gold, and 18.4 metres (from 120.1 to 126.8) grading 0.67% copper and 1.31 grams gold.
Highlights from holes 101 and 102, respectively, are: 106.3 metres (beginning at surface) grading 0.84% copper and 1 gram gold, including 51 metres (from 38.6 to 89.6 metres) grading 1.22% copper and 1.76 grams gold, and 72.9 metres (from 163.9 to 236.8 metres) grading 0.92% copper and 0.86 gram gold.
In an attempt to expand resources, Ursa Major is operating two rigs in the southeastern portion of the deposit, outside the limit of the delineated resource.
A summer program of surface exploration identified a broad zone of alteration and copper-gold mineralization.
The company has a 56.6% interest in the 250-sq.-km Koktasjal licence, with an option to increase this to 94%. Meanwhile, Ursa Major continues to explore its three other licences in Kazakhstan. Together, the four licences comprise 4,208 sq. km.
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