Chaarat board excited by latest reports from Tulkubash drilling

Exploration and development company Chaarat Gold updated the market on its 2018 exploration drilling programme at its Tulkubash oxide gold project in the Kyrgyz Republic ion Friday, reporting that 3,750 metres had been drilled to date from the planned 30,000 metres.

The AIM-traded firm said gold mineralisation had been demonstrated to continue more than 500 metres along strike north-east of the existing one million ounce resource, adding that current drilling indicated that the grades appeared to increase along strike.

It said significant intercepts included section 2520, gole DH18T356, with a true width of 9.8 metres at 1.21 grammes per tonne (g/t) of gold (Au) from a depth of 101.0 metres.

It also highlighted section 2840, gole DH18T366, with a true width of 5.4 metres at 4.87 g/t Au from a depth of 21.5 metres; and section 3080, hole DH18T364, with a true width of 5.2 metres at 1.94 g/t Au from a depth of 39.0 metres.

The company’s final highlight was section 3080, hole DH18T364, with a true width of 10.4 metres at 1.71 g/t Au from a depth of 109.5 metres.

“This current drill programme is designed with the intent to maximize the conversion of new resources to reserves and I am very encouraged by the results of our drilling to date, especially considering that we have not yet drilled our highest priority targets,” said Chaarat’s technical committee chair Dusty Nicol.

“We have demonstrated that gold mineralisation continues to the north east of the currently defined Resource and the mineralised grade appears to be increasing in this direction.

“As we extend drill road construction, we will soon commence drilling our highest priority targets which is an exciting step in the programme.”

Nicol said he continued to expect this year's drilling to define a “significant” increase in the tonnage of the resource, adding that if the current trend of increasing grade continued, it was realistic to also expect a concurrent increase in the overall grade of the Tulkubash resource.

“With results to date, we have still explored less than three kilometres of a 24 kilometre mineralised trend, further validating our belief that our mineralised system represents an emerging gold district.

“I look forward to continuing to provide periodic updates of drill results from this programme in due course.”