London-based GoldBridges Global Resources has announced that development of Sekisovskoye underground gold mine is progressing as planned.
The company also added that all key milestones are being achieved on time and within budget.
Production levels of the mine are progressing towards the medium term target of 100,000oz of gold per annum from a production throughput of one million tonnes of ore every 12 months within three years.
Most of the infrastructure and equipment necessary to augment production level are now in-place.
Ore body 5 has reached the advanced stage of production and expected to supply ore from November. Also complete is the auxiliary support necessary to extract ore from bodies 3 and 8.
Test results show that ore bodies 3 and 8 will provide a significant improvement in terms of gold grade, with 3.7g/t currently being achieved.
Furthermore, exploratory drilling reveal that ore body 11 is significantly thicker at between 50%-70% below the 200m above sea level mark.
GoldBridges Global Resources CEO Aidar Assaubayev said: “We are on time and on budget with our mine expansion and we are fully focused on progressively increasing gold production towards our target production rate of 100,000oz per annum in 2019.
“We are very pleased with progress made to date and look forward to updating shareholders again later in the year.”
For the development, company has bought a T1D Atlas Copco boomer drilling machine and three Sandvik UG trucks TH430 capable of carrying 30t to assist underground mining operations. An additional Atlas Copco Diamec rig for further exploratory drilling is expected to be delivered in the near-future.