Central Asia Resources on the cusp of cashflows as gold production begins at Dalabai
February 24. Proactive Investors Australia
By Angela Kean
Central Asia Resources (ASX: CVR) has kicked off production at its Dalabai Gold Project in Kazakhstan, irrigating 40,000 tonnes of ore with cyanide solution so far.
The project has an initial forecast pour rate of 15,000 gold ounces per year.
Central Asia has identified significant exploration upside to increase production at Dalabai, which currently has metrics of an average 25,000 gold ounces and 550,000 silver ounces for a 2.7 year period.
The project has a total Indicated and Inferred Resource of 3.98 million tonnes at 0.97 grams per tonne for 124,000 ounces of gold.
Central Asia is undertaking a $1 million exploration program to potentially increase production and extend the mine life.
The majority of the current Dalabai resource is from zones 4, 5 and central, which are three of the 10 identified ore zones on the portion of the licence area which has been explored.
Central Asia will ramp up production over the next few weeks.
The company recently raised around A$2 million from a placement to professional and sophisticated investors to ramp up gold processing.
Central Asia Resources (ASX: CVR) is a gold and base metals exploration company transitioning to producer, with projects in the Republic of Kazakhstan ranging from near term production to greenfields.