SRK was commissioned by Altynalmas to report a Mineral Resource Estimate for the Sayak-4 deposit in accordance with JORC Code (2012). The Sayak-4 deposit was first recorded in 1968 during Soviet times and subsequently explored with three periods of investigation up to 1991. Most recently, the deposit has been investigated during a 2018 confirmatory drilling campaign carried out by Altynalmas. The nature of the deposit is of a flat lying to gently dipping skarn deposit made up, in turn, of five roughly stratiform skarn units numbered, uppermost to lowermost, 1 through 5. The skarn mineralisation, characterised by cobalt, gold and arsenic, principally in arsenopyrite, glaucodot, cobaltite, chalcopyrite and native gold, occurs between approximately 100-300m below the current topography. The Mineral Resource is divided into two sub parallel flat lying to gently dipping bodies. The upper surface of the upper body varies from 120m depth in the south-east to 180m deep in the north-west of the deposit, whilst the lower boundary of the lower body varies from 230m deep in the south-east to 310m deep in the north-west and the intervening “barren” zone varies in thickness from 5-30m. The historical underground mining is accessed by a surface ramp that has been limited to historical exploration drives and cross cuts.
As part of the MRE process, SRK reviewed the correlation of 2018 verification (twin) drillhole grade with that of Soviet-era drilling and found it acceptable. A comprehensive review of QAQC of data underpinning the MRE was also completed. Metal equivalents were used to determine the mineralised domain boundaries and also for reporting in the final Mineral Resource Statement. In order to constrain the mineralisation, an Indicator grade shell was produced using a gold equivalent grade (Au(eq)) threshold of 0.15g/t inside the skarn lithological model.
