Jan 20 2014
CRG is pleased to announce the acquisition of a 75% interest in a copper asset located in the Karagandy region of Kazakhstan.
The copper project has a projected deposit of 153 million tons of mineral resource at an average grade of 0.34% copper based on a cut-off grade of 0.2% copper. Gold grades are also found on the property.
The decision to invest was made after CRG conducted detailed technical analyses of historic Soviet era geological data and performed in-house geological sampling.
"We believe that this is a perfect example of the many great opportunities to acquire underpriced assets in Kazakhstan. This project fits perfectly within the Fund's copper roll up strategy in Central Asia," said CRG Managing Director Rustem Ospanov.
Julian Bennett, CRG's Technical Director added, "This resource is suitable for open pit mining and is considered amenable to both heap leach extraction technology for the near surface oxide material and to standard flotation technology for the sulfide material at depth. This technology will be the subject of ongoing test work to optimize the process methodology."
CRG has been actively implementing its strategy of acquiring exploration assets with good mineral potential in Central Asia since early 2012. CRG has established a diverse pipeline of such assets and is currently seeking to acquire additional subsurface use contracts from the state.
Source: http://www.centurionresourcegroup.com