Exploration and development firm Chaarat Gold has selected the contractors to complete all components of its definitive feasibility study (DFS) for the Chaarat project in the Kyrgyz Republic.

Gustavson Associates will serve as project managers for the DFS and will prepare the geology, mineral resource and mine design sections.

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The company will also undertake the open pit and underground mine planning.

Resource Development will serve as metallurgical consultants, while Golder Associates (UK) will provide the geotechnical, hydrological and environmental studies for the project.

"Chaarat Gold said its key objective is to become a low-cost gold producer targeting annual production of 200,000oz from the Chaarat gold project development."

GBM Minerals Engineering Consultants will undertake the process and infrastructure engineering for the project as well as the study on logistics.

The DFS is due for completion by the end of 2014 and the drilling programme at the site in 2013 will be used to complete a new resource and reserve model designed to upgrade the JORC resource from inferred to the indicated and measured categories.

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Chaarat Gold chief executive officer Dekel Golan said the company is looking forward to finalising the Chaarat DFS, moving towards permitting, construction and starting the building of a major gold mine in central Asia.

"The new team members will be visiting site as soon as it opens at the end of April," Golan said. "We will keep the market updated as work on the DFS progresses."

"I am pleased that a number of projects in the Kyrgyz Republic have shown progress in recent weeks, as a sign of confidence in the country, following the positive progress made in the resolution of differences between the Kyrgyz Government and Centerra concerning the Kumtor mine."

Chaarat Gold said its key objective is to become a low-cost gold producer targeting annual production of 200,000oz from the Chaarat gold project development.

The company has various other prospects also located within the Kyrgyz Republic.

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