Business
Kyrgyz Licence Extension
Kyrgyz Licence Extension.
About this update from Shearwater Group Plc
[{"type":"text","content":"\n Aurum Mining PLC\n07 February 2006\n\n\nFor immediate release 7 February 2006\n\n AURUM MINING PLC\n ('Aurum' or 'the Company')\n\n Extension of Exploration Licence in Kyrgyz Republic\n\n\nAurum Mining plc (AIM: AUR), the company formed to acquire gold and other\nmineral extraction projects in the Former Soviet Union (FSU), is pleased to\nannounce that its exploration licence for the Andash gold and copper project in\nthe Kyrgyz Republic has received an anticipated extension from the Kyrgyz\ngovernment from 31 January 2006 to 31 December 2010.\n\nThe extension of the exploration licence will allow the Company to continue its\nwork on accurately establishing resource opportunities within the licence area,\nwhere current core drilling is expected to show good results in Zones 2 and 3.\nThese zones showed promising resource opportunities following recent work\ninvolving the re-opening, cleaning and extending of trenches. In addition, the\nextension of the exploration licence will allow the Company to continue\npreparatory work on its new Andash exploration opportunity, Tokhonysay.\n\nThe State Commission of Resources of the Kyrgyz Republic has already included\n21.7 million tonnes of C1 and C2 reserves for Andash Zone 1 into the State\nRegister, amounting to total gold and gold equivalent of more than 1.5 million\nozs. Work is continuing on the feasibility study for Zone 1 in preparation for\nthe Company's submission of a mining licence application, which is expected\nlater this year.\n\nMark Jones, Chief Executive of Aurum Mining, commented: 'Whilst we had\nanticipated an extension to our exploration licence from the Kyrgyz authorities\nwe are nonetheless delighted to receive it. We are planning to achieve\nsignificant milestones for the Company during the period of the renewed licence,\nincluding the submission of a mining licence for Andash Zone 1 and the\ncommencement of commercial gold production.'\n\n\nFor further information:\n\nAurum Mining plc Tel: 020 7478 9050\nSean Finlay, Chairman\nMark Jones, Chief Executive\n\nW H Ireland Tel: 0121 616 2101\nTim Cofman\n\nBuchanan Communications Tel: 020 7466 5000\nMark Court\nJames Strong\n\n\n\n\n\n\nNotes to editors\n\nAurum joined the AIM market of the London Stock Exchange in May 2004 with the\nstrategy of seeking, evaluating and acquiring gold and other mineral extraction\np...