Polymetal lifts ore estimates at Kyzyl
Polymetal on Monday unveiled a 25% increase in ore reserves at its Kyzyl operation in Kazakhstan to 10.3m ounces of gold.
The announcement came after an initial reserve estimate of 2.2 moz at East Bakyrchik. Total Kyzyl Ore Reserves now stand at 59.3m tonnes of ore with an average grade of 5.4 grammes per tonne (g/t).
Open-pit reserves increased by 9% to 4.3moz of gold contained at an average grade of 4.9 g/t, underground reserves were up 40% to 6 moz at an average grade of 5.8 g/t.
East Bakyrchik has added five years to Kyzyl’s total mine life to 2050, while life-of-mine for the open pit has extended by six years to 2036.