Slater Mining Corp. (TSX: V.SLM, Stock Forum) said it has prepared a national instrument 43-101 compliant technical report for West Khazret gold project in Kazakhstan.
The company is developing the West Khazret gold project in the Urals Tectonic Belt in northwest Kazakhstan which is prolifically rich in both base and precious metals.
According to the Slater Mining press release, the project area covers 320 kilometres squared and contains multiple mineralized systems, exploration works to date include 132 drill holes with mineralized intercepts averaging over one gram per tonne gold.
The initial target is the Sineshikhan Fault which is three kilometres wide and has a strike length in excess of 16 kilometres.
Slater Mining is focused on bringing the major oxide open pit potential to account through shallow core drilling, metallurgical test work and subsequent conventional heap leach mine development.
On Tuesday, Slater Mining’s stock was up 52.8% and was trading at $0.275 a share. The company has a market cap of $7.9 million, based on 28.7 million shares outstanding. The 52-week high and low was $0.53 and $0.12 respectively.