26th Mar 2014 12:40
LONDON (Alliance News) - Chaarat Gold Holdings Ltd Wednesday said it has selected the contractors to complete its Definitive Feasibility Study for the Chaarat Project in the Kyrgyz Republic.
The exploration and development company said Gustavson Associates will be project managers for the DFS, Resource Development Inc has been appointed as metallurgical consultants, Golder Associates Ltd will provide the geotechnical, hydrological and environmental studies, while GBM Minerals Engineering Consultants Ltd will undertake the process and infrastructure engineering for the project.
The company said the study is scheduled for completion by the end of 2014 and on budget and the drilling programme at the site in 2013 will be used to complete a new resource and reserve model designed to upgrade the JORC resource on site from inferred to the indicated and measured categories.
"We are looking forward to finalising the Chaarat DFS, moving towards permitting, construction and commencing the building of the next major gold mine in central Asia," Chief Executive Dekel Golan said in a statement.
Chaarat shares were down 7.2% to 9.51 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
CGH.L