KYRGYZ REPUBLIC – Toronto’s CENTERRA GOLD will begin a US$36-million underground exploration and development program at its Kumtor gold mine during the second half of 2007. Work will begin with the construction of a 1.9-km decline, designed so that it can support future mining activities. Before any mining can begin, the company has plans to conduct an underground delineation drilling campaign.
The target of new exploration drilling is the high-grade SB zone, which remains open along strike and down dip. The recently identified inferred resource of 1.4 million oz lies below the planned pit depth. Grades in the SB zone run as high as 20.3 g/t Au.
Centerra has also announced plans to expand its heap leaching capacity at its Boroo gold mine in Mongolia. The new US$20-million facility will handle 3.0 million t/y and should begin production in the first quarter of 2007.
The company says its annual information form for 2005 and the March 10, 2006, technical report on the Kumtor mine are both available through SEDAR at www.Sedar.com.