Results of a JORC-compliant resource audit
Polymetal is pleased to announce the results of a JORC-compliant resource audit of its Albazino deposit.
Polymetal is pleased to announce the results of a JORC-compliant resource audit of its Albazino deposit.
Snowden Mining Industry Consultants (Australia) have completed a JORC-compliant audit of resources at Polymetal«s Albazino gold deposit, located in the Khabarovsk Territory, Russia. The audit identified 6.605mln. tons of ore with an average head grade of 5.17 g/t resulting in 1.1mln.oz. of gold resources .The cut-off grade was 2 g/t.
These resource results were categorized between the inferred and indicated category as follows:
| Tons (Kt) | Grade, Au (g/t) | Metal, Au (Koz) | |
|---|---|---|---|
| Indicated | 4,300 | 5.56 | 769 |
| Inferred | 2,305 | 4.44 | 329 |
During the summer of 2006, geochemical exploration was launched at a 10 sq. km. zone of the licensed area. This initial exploration is expected to form the basis of a more extensive geological exploration programme in 2007.
Polymetal acquired 100% of LLC Resources Albazino - including the license which is valid until January 1st, 2015 - from OJSC Far Eastern Resources in July, 2006.
source: International Investor Relations Department