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27 April 2020
Trans-Siberian Gold plc
("TSG", the "Company" or the “Group”)
Drilling Results & Exploration Update
Significant extension of Vein 25 North at Asacha Gold Mine
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold
producer in Kamchatka, Russia, is
pleased to provide an exploration update on Vein 25 North
(“V25N”), discovered in September 2019
following a successful drilling campaign. V25N is located
approximately 400 metres north of Vein 25
within the East Zone of the Company’s operating Asacha Gold
Mine.
Alexander Dorogov, CEO of Trans-Siberian Gold commented:
“We are highly encouraged by this consecutive set of exciting
drilling results from the drill campaign
succesfully carried out at the promising East Zone of Asacha.
These findings continue to demonstrate
high-grade mineralisation and the potential substantially to
expand the in-situ mineral
resources. Thanks to these excellent results we are not only
planning to expand the drilling programme,
but now expect to commence production at Vein 25 ahead of
schedule this year. We are very excited
about the potential of the East Zone and look forward to
updating the market on further progress in due
course.”
Drilling Campaign Highlights
• Extensive drilling enabled definition of V25N over at least
500 metres laterally and 200 metres
vertically
• Still open at depth and to the North and just 100 metres from
Vein 25 South (”V25S”)
• Excellent progress made with the planned 2019-2020 drilling
campaign over the Asacha licence
area with 10,371 metres of the scheduled 25,000 metres completed
during Q1 2020
• Total of 11,441 metres drilled on V25N since its discovery in
September 2019
• Highly encouraging selected results from recent surface
drilling1 indicate high grade
mineralisation:
o 235 g/t Au, 134 g/t Ag over 1.4 m Hole ID C2012
o 56 g/t Au, 366 g/t Ag over 5.6 m Hole ID C2037
o 51 g/t Au, 55 g/t Ag over 5.5 m Hole ID C2020
o 49 g/t Au, 98 g/t Ag over 5.4 m Hole ID C2050
o 61 g/t Au, 176 g/t Ag over 4.0 m Hole ID C2047
o 18 g/t Au, 229 g/t Ag over 8.1m Hole ID C2053
o 83 g/t Au, 231 g/t Ag over 1.2 m Hole ID C2043
o 38 g/t Au, 450 g/t Ag over 2.1 m Hole ID C2049
o 35 g/t Au, 225 g/t Ag over 1.4 m Hole ID C2045
o 10 g/t Au, 90 g/t Ag over 4.8 m Hole ID C2022
o 30 g/t Au, 255 g/t Ag over 1.3 m Hole ID C2035
o 26 g/t Au, 21 g/t Ag over 1.2 m Hole ID C2011
1 Since RNS announcement of 15 Janaury 2020
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The Company will update its existing geological modelling with
the results of the drilling campaign to date, whilst the drilling
programme is ongoing with two full-time rigs utilised.
During the first quarter of 2020, the Group’s drilling programme
has been focused on V25N, which was
discovered in September 2019 and has produced very positive
drilling results to date. This auriferous
zone is now at least twice as large as V25S and extends to
within 50 metres of the existing adit that
was dug to reach that area. A longitudinal section showing true
horizontal widths and gold grade
intercepts in both V25S and V25N together with the best drilling
results obtained to date from the 2019-
2020 drilling campaign are shown in Figure 1.
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Figure 1. Drill assay results and metal factors on Vein 25
longitudinal.
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Table 1: 2020 drilling assay results on Vein 25N
Hole ID Collar coordinates Azimut Dip Hole
Length From To
Core Length
Horizontal Width
Au Ag
X Y Z degrees m m m m m g/t g/t
C-2011 42116 55199 313 270 -55 240 166.0 167.2 1.20 0.75 25.5
20.5
C-2012 42210 55200 348 270 -49 310 283.9 285.3 1.40 0.98 235.0
133.5
C-2013 42109 54997 308 270 -52 290 137.1 137.7 0.60 0.45 0.2
2.0
C-2014 42175 55000 320 270 -59 290 254.6 256.1 2.70 1.75 7.3
11.7
C-2015 42057 54848 286 270 -60 155 83.8 85.5 1.70 0.85 0.1
2.0
C-2016 42139 54847 298 270 -60 300 224.6 226.4 1.80 1.04 2.7
28.0
C-2019 42112 54898 302 270 -49 180 128.6 129.0 0.40 0.25 0.1
2.0
C-2020 42176 54897 309 270 -47 280 215.2 220.7 5.50 3.62 51.3
55.0
C-2021 42099 55200 312 270 -47 152 125.8 126.0 0.20 0.14 0.6
2.0
C-2022 42144 55246 317 270 -47 210 190.9 195.7 4.80 2.70 9.9
15.5
C-2023 42145 55246 317 270 -54 260 228.3 230.2 1.90 1.06 14.3
18.6
C-2024 42214 55249 344 270 -54 356 332.8 335.4 2.60 1.45 3.0
9.6
C-2025 42194 55098 336 270 -52 313 277.7 278.6 0.90 0.60 6.8
362.6
C-2026 42198 55049 330 270 -57 320 285.8 286.4 0.60 0.40 0.1
2.0
C-2027 42107 54996 309 270 -66 295 181.6 183.2 1.60 0.87 3.7
2.9
C-2029 42200 55301 332 270 -51 360 303.3 304.1 0.80 0.43 8.8
84.2
C-2030 42201 55301 332 270 -57 370 347.4 348.6 1.20 0.59 10.7
311.3
C-2032 42100 55299 309 270 -64 220 184.5 185.4 0.90 0.36 16.4
205.5
C-2033 42099 55299 310 270 -57 165 158.5 158.9 0.40 0.20 21.1
89.5
C-2035 42142 54951 310 270 -58 280 200.9 202.2 1.30 0.86 29.7
254.7
C-2036 42181 54952 316 270 -57 336 250.0 250.2 0.20 0.13 6.5
43.4
C-2037 42200 54999 324 270 -61 323 296.2 301.8 5.60 3.56 56.2
365.8
C-2039 42137 55343 312 270 -54 230 188.8 189.6 0.80 0.51 3.6
6.4
C-2041 42216 55343 331 270 -50 336 314.1 315.3 1.20 0.82 2.9
33.3
C-2043 42211 55343 331 270 -48 300 275.1 276.3 1.20 0.91 83.1
230.8
C-2044 42077 55268 307 270 -55 140 104.8 105.2 0.40 0.22 1.0
2.0
C-2045 42142 54950 310 270 -50 239 183.3 184.7 1.40 1.28 34.7
224.5
C-2047 42138 54846 298 270 -54 245 187.8 191.8 4.00 2.46 61.0
175.5
C-2048 42215 55249 344 270 -58 396 377.5 378.0 0.50 0.26 3.4
103.9
C-2049 42220 54951 325 270 -57 346 323.5 325.6 2.10 1.35 37.5
450.4
C-2050 42176 54897 309 270 -57 285 257.9 263.3 5.40 3.25 49.2
98.0
C-2051 42250 55341 336 270 -52 400 367.6 368.7 1.10 0.78 1.8
12.0
C-2053 42198 55048 331 270 -64 351 322.8 330.9 8.10 3.63 18.0
229.2
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Commentary
The vein intersections encountered at V25N show mineralogy and
textures typical of a high level low sulphidation, epithermal gold
system. The high-grade vein intersections usually exhibit
chalcedonic and/or colloform textures and hydrothermal breccias,
with lots of voids, strong clay alteration, trace to 2% manganese
oxides and sometime fragments of ginguro (black mix of electrum,
sulphides and sulfosalts). The vein is sub-vertical dipping 80 to
85 degrees to the East. It pinches and swells, sometimes quite
rapidly, but is reasonably well defined over at least 500 meters
laterally (North-South) and 200 meters vertically. The high-grade
auriferous zone is assessed to remain open at depth and to the
North. From a portal started in Q4 2019, 630m of underground
workings have been completed in order to reach V25S. The second
crosscut traversing the zones, close to holes C-1669 and U-25-1,
revealed a 0.50 meters vein grading 254.7 g/t Au and 143.3 g/t Ag
(see Figure 1 and 3). While drilling for V25N, a series of
sub-parallel gold veins were also intersected. Even if they seem to
be less continuous than V25N, some exhibit interesting assay
results:
• V25b o C-2024 : 17.9 g/t Au, 9.1 g/t Ag over 0.9m
• V25c o C-2053 : 29.5 g/t Au, 458.0 g/t Ag over 0.9m o C-2009 :
12.6 g/t Au, 194.3 g/t Ag over 2.3m o C-2002 : 88.5 g/t Au, 109.0
g/t Ag over 0.5m
• Vein New o C-2006 : 27.9 g/t Au, 41.7 g/t Ag over 2.0m
A total of 43 diamond drill holes for 11,441m has been drilled
on V25N since its discovery in September
2019. Drilling will continue on the property with two rigs for
at least 3 months. Apart from V25N, there
are three other high potential targets close to the Main Zone
(currently being mined) that will be drill-
tested during the next few months (see Figure 2). The Board of
Directors has approved a 2019-2020
drilling program of 25,000 metres. In view of the excellent
results to date, the program is expected to
be expanded. Further results will be announced as soon as
practicable.
QA/QC Program
A revised and upgraded QA/QC program has been implemented since
H2 2019. It consists mainly of the insertion of one standard, one
blank and one pulp duplicate in every batch sent for analysis to
the laboratory at the Asacha Gold Mine. It is complemented by
sending a batch of coarse duplicates to the laboratory every 600
assays and a batch of pulp duplicates to an independent external
laboratory after about 600 assays. Overall, this represents some
20% of QA/QC samples.
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Figure 2. Asacha Property geology and drilling targets
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Figure 3. Zone 25 detailed surface plan.
ENDS
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Contacts
TSG
Stewart Dickson +44 (0) 7799 694195
Arden Partners plc
Paul Shackleton (Corporate Finance) Tim Dainton / Fraser
Marshall (Equity Sales)
+44 (0) 207 614 5900
Hudson Sandler (Financial PR) +44 (0) 207 796 4133
Charlie Jack / Katerina Parker / Elfreda Kent
About TSG
TSG is focused on low cost, high grade mining operations and
stable gold production from its 100%
owned Asacha Gold Mine in Far East Russia. The Company also
holds the licence for the development
and exploration of the Rodnikova deposit, one of the largest
gold fields in South Kamchatka.
Additional information, including figures and table of this
press release, is available from the
Company's website: www.trans-siberiangold.com
Qualified Person Review Information in this announcement that
relates to exploration results is based on information compiled by
Mr. Jacquelin Gauthier, P.Geo., a consulting geologist to
Trans-Siberian Gold plc. Mr Gauthier has sufficient experience
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which has been undertaken to
qualify as a “Qualified Person” pursuant to Canada National
Instrument 43-101 and a "Competent Person" in accordance with the
AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr
Gauthier consents to the inclusion in the announcement of the
matters based on the information in the form and context in which
it appears .
Glossary of Technical Terms
"Au"
Chemical symbol for gold
“Ag”
"g/t"
Chemical symbol for silver
grams per tonne, equivalent to parts per million
"JORC" The Australasian Joint Ore Reserves Committee Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves 2012 (the "JORC Code" or "the Code"). The Code sets out
minimum standards, recommendations and guidelines for Public
Reporting in Australasia of Exploration Results, Mineral Resources
and Ore Reserves
"koz" thousand troy ounces of gold
“m’ metre
"Mt" million tonnes
"oz" troy ounce (= 31.103477 grams)
"t" tonne (= 1 million grammes)
http://www.trans-siberiangold.com/
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Market Abuse Regulations
The information contained within this announcement is deemed by
the Company to constitute inside
information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information
Service ('RIS'), this inside information is
now considered to be in the public domain.
Disclaimer
This announcement contains "forward-looking statements" - that
is, statements related to future, not
past, events. In this context, forward-looking statements often
address our expected future business
and financial performance, and often contain words such as
"expects," "anticipates," "intends," "plans,"
"believes," "seeks," "should" or "will." Forward-looking
statements by their nature address matters that
are, to different degrees, uncertain. For us, uncertainties
arise from the behaviour of financial and
metals markets, fluctuations in interest and/or exchange rates
and metal prices; and from numerous
other matters of national, regional and global scale, including
those of a political, economic, business,
competitive or regulatory nature. These uncertainties may cause
our actual future results to be
materially different that those expressed in our forward-looking
statements.