Resources: End of 2010: 1.2M Oz Au (37 t) contained at average grade of 2 g/t (indicated & inferred), based only on the most explored parts of two zones out of total five zones. Independent NI 43-101 compliant Report – Technical Due Diligence & Resource Estimate. January 2012 Resources: ~3.0 million Oz of gold with average grade at 2 g/t. The NI 43-101 report update completed in the beginning of 2012 based on exploration results of 2011 showed total resources volume (Indicated & Inferred). September 2013 Resources: ~3.4 M Oz Au (107 t) contained at average grade of 2,1 g/t (Measured + Indicated + Inferred). The total upside potential of the Title is likely to exceed 8 million Au Oz contained based on detailed geophysical research.
The license for Ozernovskoe ore field was awarded to JSC Sigma in 2005 upon the State public auction. Since 2006 the Company was controlled by prominent investment fund UFG Private Equity. In March 2010 the Company was acquired from UFG by current shareholders, who considered the ore field of being highly promising in terms of containing potential economic gold recourses. Current shareholders consist of management of the Company and founders of Ilim Timber Group (who also control a portfolio of companies in Germany, USA, Norway, and Russia). They have long-term, positive and known precedents in building JV with international investors and extensive successful experience in doing business in the region.
Ozernovskoe ore field is located in Kamchatka region in the Far East Russia, within 145 km from nearest town Kluchi and 600 km from the regional centre Petropavlovsk-Kamchatsky. Its total area covers about 100 sq km. By the number and dimensions of auriferous mineralized zones discovered within the area, the field is considered to be one of the most distinguished ones in Kamchatka region.
License. The Company holds the license for exploration, mineral extraction and production of gold and supplementary valuable components, valid through July 1, 2030. License area (48.5 sq km) covers the most explored eastern part of the Ozernovskoe ore field.
During the period 2010-2012 OJSC “SiGMA” has performed a complex of geophysical works in the Ozernovskoye ore field.The works included electrical exploration by the induced polarization method in IP – MG modification (Induced Polarization – Mean Gradient).The maintask of the exploration was to select and localize anomalous zones, clarify their spatial attitude and delineate potential …
Based on actual geological and test work data, a scoping/pre-feasibility study was done for the scenario of construction of the open pit mine & processing plant with annual throughput of 1.5 M tones. In parallel, exploration discovered high-grade (~10+ g/t) localized near-to-surface ore amounting ~ 380 KOz of Au. It is strongly expected that this …
Road. Nearest accessible year-round road is at 60 km distance from the immediate site. Thus, the road at present is accessed from the site by the track way which can be used by wheel- and track-type transport during summers and winters, and year round by off roaders. The Company has conducted engineering and survey works …
