Mangazeya Mining Ltd WHTGF

Mangazeya received a license for a new site

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The Mangazeya Group of Companies received a license from the Federal Agency for Subsoil Use for the development of the Mayachnoye site near the Savkino field. With the commissioning of new facilities, Mangazeya Mining will be able to increase the volume of gold production by 500 kilograms per year over the next 4 years.

The Mayachnoye deposit is located in the Nerchinsko-Zavodskoy district of the Trans-Baikal Territory, 15 kilometers south-west of the village of Nerchinsky in close proximity to the Savkino deposit. The distance by road from the Mayachnoye site to Chita is 590 kilometers.

The license for geological exploration, prospecting and evaluation of minerals at Mayachnoye was issued to the Mangazeya Group of Companies for a period of 5 years. Upon reaching the set production indicators in the coming years, Mangazeya plans to enter the top 15 gold mining companies in Russia.

From 2004 to 2005, a significant number of points of gold mineralization with gold grades from 1.0 to 36.6 g / t were identified at the Mayachnoye site. According to forecasts, there are 10 tons of gold here. The company plans to conduct exploration work at the field.

“The identification of new ore objects at Mayachy will allow us to extend the operation of existing equipment at the already operated Savkinsky mine and increase the volume of gold production. Based on the results of geological exploration at Mayachnoye, Mangazeya Mining plans to supply up to 5 tons of gold to the state balance sheet, "commented Mikhail Gusev, General Director of Mangazeya Gold.

https://www.chita.ru/news/151065/