Naimanjal License Update
Frontier Mining Ltd, the gold and copper exploration and development company based in Kazakhstan, today provides an update and overview on the Naimanjal license 1166DD including the Naimanjal Complex gold project, the Koskuduk gold project, the Beschoku gold & copper project and the Yubileiny copper prospect in northeast Kazakhstan.
- Extended pilot production license at Naimanjal Complex
- Submitted application for commercial production at Naimanjal Complex
- Submitted application for pilot production at Koskuduk, Beschoku and Yubileiny
- Mining, crushing, and stacking of ore recommenced at Naimanjal complex
- Average grade of 1.1 g/t
- Gold and Silver sales for 2008 from Naimanjal were 772 ounces Au and 8,522 ounces Ag
- 2009 forecast pilot production of 6000 ounces Au and 60,000 ounces Ag
- 2010 forecast commercial production of 15,000 ounces Au and 150,000 ounces Ag
The Company expects to receive an update on the submitted license applications in Q3 2009.
Erlan Sagadiev, CEO comments:
“We continue to view the wholly owned Naimanjal license as an important cashflow asset in the Company’s portfolio and are optimistic at the progress of the Naimanjal Complex gold project, Koskuduk gold project, Beschoku copper & gold prospects and the Yubileiny copper prospect. We plan to give an update on our 50% owned Benkala Joint Venture licence later this month.”