Kentor Gold Limited announced that it has entered into a Letter of Intent with regard to an exclusive option to purchase 100% of the Aktash gold and copper deposit located just 8 kilometers from the planned Andash gold and copper plant site.
Hellman and Schofield have established an Exploration Target for the Aktash deposit under the JORC guidelines of 2 million tonnes to 5 million tonnes of ore grading 2 to 3.5 gram per tonne Au, 0.3 to 0.7% Cu and 8 to 12 gram per tonne Ag.
Mr Simon Milroy MD of Kentor Gold said that “Securing an option over Aktash has meant that we have a further opportunity to increase the life of operations at Andash. Evaluation of the Andash project has been based on the Andash #1 orebody alone. We have potential to add reserves at Andash #2, Andash #3, Nahodka, Jerganak, Chonkyshto, Toktonysai and now at Aktash as well.
He said that the grade of the gold mineralization at Aktash is higher than at Andash, hence including ore from Aktash in the feed to the process plant will likely result in increased annual gold production.