Friday, 27th April 2007 (2225 views)

Kazakhgold has released its results for the first quarter of 2007 and has seen its gold production upped from the corresponding period last year to 33,910 ounces.

The amount of money gained per ounce has also increased by 31 per cent from 2006's first quarter with the price per ounce on average standing at $547 (£273).

This level of gold production achieved by Kazakhgold was gained from three mines located in northern Kazakhstan. These are Aksu, Zholymbet and Bestobe. Allied to this, the company has its sights set on assets belonging to Oxus Gold.

Following a preliminary JORC evaluation, Kazakhgold has announced that it currently holds a "world class asset base". So far this year, the core drilling that has taken place accounts for 26 per cent of the total drilling pencilled in for 2007.

According to Kazakhgold, the results so far obtained have confirmed that aside from having a world class asset base, there is "significant potential for resource classification upgrade and a significant proportion of the ounces contained within the designated open pit mining zones at each of the deposits".

 

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