GV Gold Won the Actions for Two Licenses Located in the Bodaibo District of the Irkutsk RegionGV Gold won the auctions for geological surveying, exploration and mining of gold within the Svetlovsky and Western Zharchikha sites located in the Bodaibo District of the Irkutsk Region. The term of both licenses is 25 years. The final price of the sites was RUB 4,510,000 and RUB 3,289,000, respectively.
The Svetlovsky placer is located in the immediate vicinity of the GV Gold’s key development project – the Svetlovsky Mine, developing the cognominal hardrock deposit. The area of the placer is 30.86 km2. The P3 category prognostic resources of placer gold are estimated at 16 t.
The Western Zharchikha site is located within the territory of the Kropotkin Settlement Administration of the Bodaibo District (Irkutsk Region). The area of the site is 30.33 km2. The P3 prognostic resources of hardrock gold are estimated at 5.5 t at the average grade of 3.5 g/t.
GV Gold carries on expanding its mineral resource base in the district within the framework of complex development of the Irkutsk business unit.
GV Gold (Vysochaishy, PJSC) is one of the largest and fastest growing Russian gold mining companies. It develops open pit deposits and washes gold at the country’s largest alluvial deposit. In 2020, its assets produced 272 koz of gold.
The Company’s key operating assets are located in the Irkutsk Region and the Republic of Sakha (Yakutia). The Company operates four mines with a total capacity of 10.5 Mtpa of ore and holds 38 mining and exploration licenses.
GV Gold boasts an extensive resource base, with JORC reserves and resources estimated at 5.3 Moz and 10.8 Moz, respectively.