Media

The Polymetallic Holding Group Seligdar (hereinafter referred to as the "Holding Group" or "Seligdar") (MOEX: SELG) has completed geological exploration at the Kyuchus deposit in Yakutia and has received approval from the State Commission on Mineral Reserves (GKZ) for the feasibility study of permanent exploration standards and reserve calculation in the amount of 188.6 tonnes of gold.

The updated figure exceeds the previously reported data from temporary standards, which amounted to 175.3 tonnes.

The feasibility study provides for the development of the deposit by both open-pit and underground methods.

Approved balance gold reserves at the Kyuchus deposit in the C1+C2 category amount to 188.6 tonnes of gold at an average grade of 6.25 grammes per tonne. Silver reserves in the amount of 13.7 tonnes and mercury reserves of 3,830 tonnes have also been approved as associated components. Off-balance gold reserves in the C1+C2 category have been approved for open-pit and underground mining in the amount of 2.1 tonnes and 9.1 tonnes, respectively.

In addition, as a result of the geological exploration, reserves below the previously established licence boundary have also been delineated within the underground mining framework. The GKZ protocol has approved balance reserves in the unallocated subsoil fund in the C2 category in the amount of 3.3 tonnes at an average grade of 11.11 grammes per tonne and off-balance C2 reserves in the amount of 0.6 tonnes at an average grade of 3.05 grammes per tonne .

The Kyuchus gold deposit is one of the largest in Russia and the second largest in the Republic of Sakha (Yakutia). It is located beyond the Arctic Circle in two districts of the republic: Ust-Yanskiy and Verkhoyanskiy.

Currently, engineering surveys are being carried out at Kyuchus for the construction of the future production complex facilities