29th Apr 2016 07:11
LONDON (Alliance News) - Polymetal International PLC Friday detailed the mineral resource estimate for its Lichkvaz project in Armenia following an audit by CSA Global Pty Ltd.
Total underground mineral resources comprised 4.3 million tonnes of ore, averaging 4.2 grams per tonne for 0.6 million ounces of gold equivalent, Polymetal said.
Next, the company plans to undertake "significant additional drilling" at the project with the objective of producing a Joint Ore Reserves Committee compliant ore reserve estimate and combined life-of-mine plan for Lichkvaz and the Kapan concentrator in the third quarter of 2017.
Shares in Polymetal were down 0.1% at 705.00 pence Friday morning, shortly after market open.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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