TIDMTSG
RNS Number : 8848K
Trans-Siberian Gold PLC
27 April 2020
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27 April 2020
Trans-Siberian Gold plc
("TSG", the "Company" or the "Group")
Drilling Results & Exploration Update
Significant extension of Vein 25 North at Asacha Gold Mine
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold
producer in Kamchatka, Russia, is pleased to provide an exploration
update on Vein 25 North ("V25N"), discovered in September 2019
following a successful drilling campaign. V25N is located
approximately 400 metres north of Vein 25 within the East Zone of
the Company's operating Asacha Gold Mine.
Alexander Dorogov, CEO of Trans-Siberian Gold commented:
"We are highly encouraged by this consecutive set of exciting
drilling results from the drill campaign succesfully carried out at
the promising East Zone of Asacha. These findings continue to
demonstrate high-grade mineralisation and the potential
substantially to expand the in-situ mineral resources. Thanks to
these excellent results we are not only planning to expand the
drilling programme, but now expect to commence production at Vein
25 ahead of schedule this year. We are very excited about the
potential of the East Zone and look forward to updating the market
on further progress in due course."
Drilling Campaign Highlights
-- Extensive drilling enabled definition of V25N over at least
500 metres laterally and 200 metres vertically
-- Still open at depth and to the North and just 100 metres from Vein 25 South ("V25S")
-- Excellent progress made with the planned 2019-2020 drilling
campaign over the Asacha licence area with 10,371 metres of the
scheduled 25,000 metres completed during Q1 2020
-- Total of 11,441 metres drilled on V25N since its discovery in September 2019
-- Highly encouraging selected results from recent surface
drilling [1] indicate high grade mineralisation:
o 235 g/t Au, 134 g/t Ag over 1.4 m Hole ID C2012
o 56 g/t Au, 366 g/t Ag over 5.6 m Hole ID C2037
o 51 g/t Au, 55 g/t Ag over 5.5 m Hole ID C2020
o 49 g/t Au, 98 g/t Ag over 5.4 m Hole ID C2050
o 61 g/t Au, 176 g/t Ag over 4.0 m Hole ID C2047
o 18 g/t Au, 229 g/t Ag over 8.1m Hole ID C2053
o 83 g/t Au, 231 g/t Ag over 1.2 m Hole ID C2043
o 38 g/t Au, 450 g/t Ag over 2.1 m Hole ID C2049
o 35 g/t Au, 225 g/t Ag over 1.4 m Hole ID C2045
o 10 g/t Au, 90 g/t Ag over 4.8 m Hole ID C2022
o 30 g/t Au, 255 g/t Ag over 1.3 m Hole ID C2035
o 26 g/t Au, 21 g/t Ag over 1.2 m Hole ID C2011
The Company will update its existing geological modelling with
the results of the drilling campaign to date, whilst the drilling
programme is ongoing with two full-time rigs utilised.
During the first quarter of 2020, the Group's drilling programme
has been focused on V25N, which was discovered in September 2019
and has produced very positive drilling results to date. This
auriferous zone is now at least twice as large as V25S and extends
to within 50 metres of the existing adit that was dug to reach that
area. A longitudinal section showing true horizontal widths and
gold grade intercepts in both V25S and V25N together with the best
drilling results obtained to date from the 2019-2020 drilling
campaign are shown in Figure 1.
Figure 1. Drill assay results and metal factors on Vein 25
longitudinal.
Table 1: 2020 drilling assay results on Vein 25N
Hole Collar coordinates Azimut Dip Hole From To Core Horizontal Au Ag
ID Length Length Width
-----------------------
X Y Z degrees m m m m m g/t g/t
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2011 42116 55199 313 270 -55 240 166.0 167.2 1.20 0.75 25.5 20.5
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2012 42210 55200 348 270 -49 310 283.9 285.3 1.40 0.98 235.0 133.5
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2013 42109 54997 308 270 -52 290 137.1 137.7 0.60 0.45 0.2 2.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2014 42175 55000 320 270 -59 290 254.6 256.1 2.70 1.75 7.3 11.7
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2015 42057 54848 286 270 -60 155 83.8 85.5 1.70 0.85 0.1 2.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2016 42139 54847 298 270 -60 300 224.6 226.4 1.80 1.04 2.7 28.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2019 42112 54898 302 270 -49 180 128.6 129.0 0.40 0.25 0.1 2.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2020 42176 54897 309 270 -47 280 215.2 220.7 5.50 3.62 51.3 55.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2021 42099 55200 312 270 -47 152 125.8 126.0 0.20 0.14 0.6 2.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2022 42144 55246 317 270 -47 210 190.9 195.7 4.80 2.70 9.9 15.5
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2023 42145 55246 317 270 -54 260 228.3 230.2 1.90 1.06 14.3 18.6
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2024 42214 55249 344 270 -54 356 332.8 335.4 2.60 1.45 3.0 9.6
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2025 42194 55098 336 270 -52 313 277.7 278.6 0.90 0.60 6.8 362.6
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2026 42198 55049 330 270 -57 320 285.8 286.4 0.60 0.40 0.1 2.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2027 42107 54996 309 270 -66 295 181.6 183.2 1.60 0.87 3.7 2.9
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2029 42200 55301 332 270 -51 360 303.3 304.1 0.80 0.43 8.8 84.2
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2030 42201 55301 332 270 -57 370 347.4 348.6 1.20 0.59 10.7 311.3
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2032 42100 55299 309 270 -64 220 184.5 185.4 0.90 0.36 16.4 205.5
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2033 42099 55299 310 270 -57 165 158.5 158.9 0.40 0.20 21.1 89.5
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2035 42142 54951 310 270 -58 280 200.9 202.2 1.30 0.86 29.7 254.7
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2036 42181 54952 316 270 -57 336 250.0 250.2 0.20 0.13 6.5 43.4
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2037 42200 54999 324 270 -61 323 296.2 301.8 5.60 3.56 56.2 365.8
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2039 42137 55343 312 270 -54 230 188.8 189.6 0.80 0.51 3.6 6.4
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2041 42216 55343 331 270 -50 336 314.1 315.3 1.20 0.82 2.9 33.3
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2043 42211 55343 331 270 -48 300 275.1 276.3 1.20 0.91 83.1 230.8
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2044 42077 55268 307 270 -55 140 104.8 105.2 0.40 0.22 1.0 2.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2045 42142 54950 310 270 -50 239 183.3 184.7 1.40 1.28 34.7 224.5
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2047 42138 54846 298 270 -54 245 187.8 191.8 4.00 2.46 61.0 175.5
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2048 42215 55249 344 270 -58 396 377.5 378.0 0.50 0.26 3.4 103.9
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2049 42220 54951 325 270 -57 346 323.5 325.6 2.10 1.35 37.5 450.4
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2050 42176 54897 309 270 -57 285 257.9 263.3 5.40 3.25 49.2 98.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2051 42250 55341 336 270 -52 400 367.6 368.7 1.10 0.78 1.8 12.0
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
C-2053 42198 55048 331 270 -64 351 322.8 330.9 8.10 3.63 18.0 229.2
-------- ------- ---- -------- ---- -------- ------ ------ -------- ----------- ------ ------
Commentary
The vein intersections encountered at V25N show mineralogy and
textures typical of a high level low sulphidation, epithermal gold
system. The high-grade vein intersections usually exhibit
chalcedonic and/or colloform textures and hydrothermal breccias,
with lots of voids, strong clay alteration, trace to 2% manganese
oxides and sometime fragments of ginguro (black mix of electrum,
sulphides and sulfosalts).
The vein is sub-vertical dipping 80 to 85 degrees to the East.
It pinches and swells, sometimes quite rapidly, but is reasonably
well defined over at least 500 meters laterally (North-South) and
200 meters vertically. The high-grade auriferous zone is assessed
to remain open at depth and to the North.
From a portal started in Q4 2019, 630m of underground workings
have been completed in order to reach V25S. The second crosscut
traversing the zones, close to holes C-1669 and U-25-1, revealed a
0.50 meters vein grading 254.7 g/t Au and 143.3 g/t Ag (see Figure
1 and 3).
While drilling for V25N, a series of sub-parallel gold veins
were also intersected. Even if they seem to be less continuous than
V25N, some exhibit interesting assay results:
-- V25b
o C-2024 : 17.9 g/t Au, 9.1 g/t Ag over 0.9m
-- V25c
o C-2053 : 29.5 g/t Au, 458.0 g/t Ag over 0.9m
o C-2009 : 12.6 g/t Au, 194.3 g/t Ag over 2.3m
o C-2002 : 88.5 g/t Au, 109.0 g/t Ag over 0.5m
-- Vein New
o C-2006 : 27.9 g/t Au, 41.7 g/t Ag over 2.0m
A total of 43 diamond drill holes for 11,441m has been drilled
on V25N since its discovery in September 2019. Drilling will
continue on the property with two rigs for at least 3 months. Apart
from V25N, there are three other high potential targets close to
the Main Zone (currently being mined) that will be drill-tested
during the next few months (see Figure 2). The Board of Directors
has approved a 2019-2020 drilling program of 25,000 metres. In view
of the excellent results to date, the program is expected to be
expanded. Further results will be announced as soon as
practicable.
QA/QC Program
A revised and upgraded QA/QC program has been implemented since
H2 2019. It consists mainly of the insertion of one standard, one
blank and one pulp duplicate in every batch sent for analysis to
the laboratory at the Asacha Gold Mine. It is complemented by
sending a batch of coarse duplicates to the laboratory every 600
assays and a batch of pulp duplicates to an independent external
laboratory after about 600 assays. Overall, this represents some
20% of QA/QC samples.
Figure 2. Asacha Property geology and drilling targets
Figure 3. Zone 25 detailed surface plan.
ENDS
Contacts
TSG
Stewart Dickson +44 (0) 7799 694195
Arden Partners plc
Paul Shackleton (Corporate Finance)
Tim Dainton / Fraser Marshall (Equity Sales) +44 (0) 207 614 5900
Hudson Sandler (Financial PR) +44 (0) 207 796 4133
Charlie Jack / Katerina Parker / Elfreda
Kent
About TSG
TSG is focused on low cost, high grade mining operations and
stable gold production from its 100% owned Asacha Gold Mine in Far
East Russia. The Company also holds the licence for the development
and exploration of the Rodnikova deposit, one of the largest gold
fields in South Kamchatka.
Additional information , including figures and table of this
press release, is available from the Company's website:
www.trans-siberiangold.com
Qualified Person Review
Information in this announcement that relates to exploration
results is based on information compiled by Mr. Jacquelin Gauthier,
P.Geo., a consulting geologist to Trans-Siberian Gold plc. Mr
Gauthier has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which has been undertaken to qualify as a "Qualified
Person" pursuant to Canada National Instrument 43-101 and a
"Competent Person" in accordance with the AIM Rules Guidance Note
for Mining and Oil & Gas Companies. Mr Gauthier consents to the
inclusion in the announcement of the matters based on the
information in the form and context in which it appears .
Glossary of Technical Terms
"Au" Chemical symbol for gold
"Ag" Chemical symbol for silver
"g/t" grams per tonne, equivalent to parts per million
"JORC" The Australasian Joint Ore Reserves Committee Code
for Reporting of Exploration Results, Mineral Resources
and Ore Reserves 2012 (the "JORC Code" or "the Code").
The Code sets out minimum standards, recommendations
and guidelines for Public Reporting in Australasia
of Exploration Results, Mineral Resources and Ore
Reserves
"koz" thousand troy ounces of gold
"m' metre
"Mt" million tonnes
"oz" troy ounce (= 31.103477 grams)
"t" tonne (= 1 million grammes)
Market Abuse Regulations
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
Disclaimer
This announcement contains "forward-looking statements" - that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "should" or "will." Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets, fluctuations in interest and/or exchange rates and
metal prices; and from numerous other matters of national, regional
and global scale, including those of a political, economic,
business, competitive or regulatory nature. These uncertainties may
cause our actual future results to be materially different that
those expressed in our forward-looking statements.
[1] Since RNS announcement of 15 Janaury 2020
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLDBGDSRBDDGGL
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