Monday, 1st December 2008 (192 views)

Chaarat Gold Holdings has reported that its latest drilling programme has uncovered significant mineralised intersections in the C5300 area of its property in Kyrgyzstan.

According to the mining firm, additional drilling results from surface and underground drilling at the C5300 project area on the Contact zone at its Chaarat gold property have proven "encouraging".

The 604 sq km Chaarat property in Kyrgyzstan had indicated and inferred gold resources of 3.14Moz at 4.44 g/t at the end of 2007 and an updated resource estimate is due in early 2009.

Under the 2008 drill programme, Chaarat Gold has extended the drilled depth of the mineralised zone for a further 260m down dip, increasing the continuous extent of the mineralisation to a depth of 520m from the surface but only 230m below the level of the valley floor.

Dekel Golan, Chaarat chief executive, stated: "These results confirm management's view of the significant potential of the Chaarat deposit."

Registered in the British Virgin Islands, Chaarat Gold Holdings has a 100 per cent interest in the prospect within the Tien Shan gold belt in western Kyrgyzstan.

 

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