02.07.2024
Polymetallic Holding Seligdar (hereafter Seligdar or Holding Group) following the results of geological exploration at the Ryabchik-Zhelannoye subsoil allotment in the Aldan district, Republic of Sakha (Yakutia), has received a certificate confirming the discovery of the Ryabchik mineral deposit.
The specialists of the Holding Group, after conducting a thorough geological exploration of the site, have determined its boundaries, shapes of ore bodies, and the mineralogical composition. They have also registered the reserves in the State Balance of Mineral Reserves. As a result, the Holding Group as the discoverer is now permitted to develop the deposit.
The discovered deposit will expand the resource base for the operating Ryabinovy production complex.
The registered reserves of the Ryabchik deposit amount to 4,604 kg of gold and 7,996 kg of silver (C1 and C2 categories). The volume of prognostic resources in the P1 category is 493 kg of gold and 0.6 tonnes of silver.
The discovery of a new mineral deposit is one example of the active work the Holding Group is doing as part of its Development Strategy to replenish its mineral reserve base, both within the operated deposits and in greenfields. At several other sites, exploration, evaluation, and prospecting activities are currently underway, and reserves are expected to be registered in the State Balance of Mineral Reserves between 2024 and 2027.
According to the data from Seligdar's Annual Report for 2023, the gold reserves of the Holding Companies have increased by 8.5 tonnes in 2023 and currently stand at 280 tonnes. Over the period from 2013 to 2023, the mineral reserve base of the Holding Group has grown by 188%, or 183 tonnes, at a compound annual growth rate of 11%. At the current level of production, the available gold reserves of Seligdar PJSC are sufficient for operations for five or six years. Considering deposits currently being prepared for development, the Holding Group's mineral reserve base will ensure its operations for more than two decades.