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Friday, 13th May 2005 (4011 views)

Trans-Siberian Gold is aiming to produce 100,000 ounces of gold this year, from its three developing projects in Russia.<br/><br/>The western Siberian sites of Veduga and Bogunay are currently nearing production, whilst mining in the Kamchatka region of far eastern Russia is still in its prospective stage.<br/><br/>At Veduga there is thought to be 16.65 million tonnes of ore, at an average grade of 5.21 grammes per tonne - which provides a resource of 2.79 million ounces of gold.<br/><br/>Discovery opportunities are thought to exist in the areas surrounding all three existing sites, and Trans-Siberian Gold has already acquired exploration licences for these locations.<br/><br/>The company has set initial production targets at 100,000 ounces, but hopes this will rise to between 250,000 and 300,000 ounces in 2008, Mineweb reports.<br/><br/>It is working in association with AngloGold Ashanti, which owns a 17.5 per cent stake in Trans-Siberian and a 51 per cent interest in its new mining and exploration projects.<br/><br/>Having acquired Asacha,Trans-Siberian has scheduled the site for production late next year, with detailed engineering being undertaken by Russian institutes.<br/><br/>Up to 1,000 kilograms of gold could be produced by December 2007, with current resources estimated at 680,000 ounces and expectations of localised extensions of the orebody at depth.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8491541"/>

 

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