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RG Gold Permitted to Carry Out Exploration Program in Novodneprovsk Area in Akmola Region

Thursday 22 June 2017

ALMATY (RG Gold press service) — The Ministry of Investments and Development of the Republic of Kazakhstan has issued a permit to RG Gold to submit a new geological exploration program within eight months. The program will extend studies at the Novodneprovskoe contract territory in Burabay area, Akmola region, and the exploration permit is anticipated to be extended until 2021.

RG Gold LLP offers gold mining services in Kazakhstan. The company was formerly known as Raygorodok LLP and changed it s name to RG Gold LLP in December 2015. The company was founded in 2014 and is based in Shchuchinsk, Kazakhstan.

Timur Toktabaev, Vice-minister of Investments and Development of the Republic of Kazakhstan has commented (on issuing a permit to submit new exploration program): “RG Gold has completed its contractual obligations on exploring the licensed territory for gold deposits. Data collected by RG Gold suggests substantial potential for further exploration. We, therefore, issued a permit to submit a new program.”

Serik Syzdykov, General Director of RG Gold noted: “We expect to invest about one billion tenge in additional exploration resulting in increase to our gold reserves.”

The previous exploration program was completed on schedule on May 23, 2017 and saw RG Gold significantly increase its gold resources and reserves at the North and South Raygorodok deposits. The company also discovered important new prospective areas, which serve as the basis for the request to extend the exploration period, and we also fulfilled our contractual obligations with more than three billion tenge invested over the last three years.

RG Gold has already completed significant exploration works at the Novodneprovskoe territory, beginning in 2014 and ending in May 2017. Airborne geophysical surveys, ground, areal and two-dimensional geophysical surveys were completed, where a total of 448 core drillholes, 1852 exploration RCC drillholes (with hydraulic core lifter), and thirteen specialised drillholes were drilled to understand and interpret the geotechnical conditions of the deposits. In addition, RG Gold completed tests of primary ores and developed procedures for their processing.

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