Frontier Mining starts gold production at Naimanjal in Kazakhstan
June 23. Proactive Investors UK
Frontier currently owns two licenses in Kazakhstan. They are the Naimanjal exploration and mining licence, held by FML Kazakhstan, and, 50% of U.S. Megatech BVI, which holds the Benkala, licence. FML Kazakhstan is a wholly owned subsidiary of Frontier Mining Ltd.
Frontier has one producing gold mine, Naimanjal; one pre-feasibility stage gold project, Koskuduk; and the recently acquired 50% interest in the Benkala copper mine.
Frontier owns a 50% interest in KazCopper LLP, the joint venture Company that owns the Benkala copper-molybdenum-gold deposit located in northwestern Kazakhstan within the Urals gold/copper ore belt. A Competent Persons Report on the Benkala project completed by Wardell Armstrong International in March 2007 estimates 47.75 Mt at an average grade of 0.36% Copper for the oxide mineralization, and873.75 Mt at an average grade of 0.30% Copper for the sulphide mineralisation, representing some 2.8 million tonnes of contained Copper. A conceptual study team and advisory team have both been appointed to fast track the development of this project forward towards a pre- feasibility study, with a view to beginning production at the end of 2010.
Kazakhstan-focused Frontier Mining Ltd (AIM: FML) said that, following the news on June 2 2009 that the pilot production license at the Naimanjal complex has been extended, the company has now commenced 2009 gold production.
FML Kazakhstan LLP today shipped Dore containing 153.5 ounces of gold and 172.5 ounces of silver to Metalor AG in Switzerland. FMLK expects to make shipments on a fortnightly basis from Naimanjal.
As operations increase in the coming weeks, Naimanjal is expected to produce 6,000 oz gold and 60,000 oz silver in 2009. As previously announced, Frontier expects to receive commercial production approvals in thwe third quarter 2009 and forecasts commercial production of 15,000 oz gold and 150,000 oz silver in 2010.