Business
2018 Work Programme and MoU for Production
2018 Work Programme and MoU for Production.
About this update from Empire Metals Limited
[{"type":"text","content":"\n \nRNS Number : 7712H Georgian Mining Corporation 15 March 2018 \n\nGeorgian Mining Corporation / EPIC: GEO / Sector: Natural Resources\n15 March 2018\nGeorgian Mining Corporation ('GEO' or the 'Company')\n2018 Work Programme and MoU for Production at Kvemo Bolnisi Project \n \nGeorgian Mining Corporation is pleased to announce that it has agreed a 2018 Work Programme (the 'Programme') with its partner Caucasian Mining Group ('CMG') to proceed with the development of the Kvemo Bolnisi gold-copper project ('KB' or the 'KB Project'), and to perform further regional exploration at the 860 sq km licence ('the Licence') located on the Tethyan Belt in Georgia. In line with this, the Company's 50% owned subsidiary, Georgian Copper & Gold JSC ('GCG'), has entered into a Memorandum of Understanding ('MoU') with RMG Gold LLC, ('RMG'), CMG's sister production company, relating to the mining and processing of ore from the Kvemo Bolnisi East target ('KBE'). \n \nHighlights\n· GEO and CMG will fund the development of GCG on a 50/50 basis\n· 2018 Work Programme will initially focus on building a mining operation at KBE Gold Zone 2 ('GZ2')\n· The KBE drill programme includes further expansion of the copper-gold sulphides resources which are currently open in all directions and further exploration in the wider KB area\n· In-fill drilling for resource definition expected to commence in April 2018 and take approximately two months to complete \n· Results will be incorporated into a final JORC compliant Resource estimate for the gold oxides at GZ2\n· Additional bulk sampling, metallurgical testwork, site investigations, and environmental studies to be carried out at GZ2 in parallel with infill drilling\n· Commencement of processes to obtain additional permits relating to GZ2 extraction, including environmental and construction permits\n· MOU covers mining, hauling and processing of ore from KBE at one of RMG's processing plants at the nearby Madneuli and Sakdrisi mines\n· Final agreement subject to and conditional upon completion of above work programme and a positive feasibility study - both Parties have agreed ...