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BELAYA GORA – Khabarovsk Region, Russia
Belaya Gora (“White Mountain”) is a low-sulfidation type gold deposit hosted in pervasively clay-altered volcanic rocks. The property is located 55 kilometres north of the town of Nikolaevsk-na-Amure and 66 kilometers to the south of our present Mnogovershinnoye operation. The acquisition was made pursuant to a public auction at a price of Rb16.5 million (US$580,000). The deposit lies within 5 kilometers of an existing high voltage power line and is accessible all year around by a well maintained road that connects Mnogovershinnoye to the town of Nikolaevsk-na-Amur and its port and airport facilities. The project has a long history of exploration and was explored during the 1970s and early 1980s |
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with geophysics, trenching and a large amount of drilling and underground development on three horizons. Highland Gold considers this resource to be highly sensitive to the choice of cut-off grade. Our preliminary target for Belaya Gora is to develop a near surface, bulk tonnage resource that is amenable to heap leaching.
A total of 4,200 metres of diamond drilling has been completed on schedule and assaying of 3,000 core samples is in progress. Based on previous and Barrick’s exploration data, a 3D geological and exploration model of the deposit has been constructed which indicates gold-mineralization in altered host rocks down to 300 metres from surface with an estimated geological resource of circa 108 M tonnes grading more than 0.5 g/t gold. A 12,000 metres drilling program has been designed for the 2007 exploration season with the objective of defining average grades and delineating resources for the two areas - the Stockwork and Pologaya zones, on the property.
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