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14 July 2020
Trans-Siberian Gold plc
("TSG", the "Company" or the “Group”)
Drilling Results & Exploration Update
Further High-Grade Results on Vein 25 North at Asacha Gold
Mine
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold
producer in Kamchatka, Far East Russia,
is pleased to provide an exploration update on Vein 25 North
(“V25N”). V25N was discovered in
September 2019 following a successful drilling campaign. V25N
now extends 600 metres north from
Vein 25 South (“V25S”) within the East Zone of the Company’s
operating Asacha Gold Mine. High-
grade gold and silver values were intersected from close to
surface to a depth of over 300 metres. The
auriferous zone remains open to the north and at depth.
Highlights
• Extensive drilling defines V25N over at least 600 metres
laterally and 300 metres vertically
• V25N remains open at depth and to the North and it extends
just north of V25S underground
works
• 25,000 metres drilled since October 2019 over the Asacha
licence producing excellent results
o 19,100 metres drilled on V25N
o Low discovery cost of V25N Mineral Resources of approximately
$11.86/oz gold
• Highly encouraging selected results from recent surface
drilling1:
o 101.5 g/t Au and 1070 g/t Ag over 2.1 m Hole ID C2083 (one of
the deepest holes)
o 89.2 g/t Au and 214 g/t Ag over 0.8 m Hole ID C2080 (farthest
north hole)
o 31.4 g/t Au and 98 g/t Ag over 1.7 m Hole ID C2071
o 27.4 g/t Au and 51 g/t Ag over 0.7 m Hole ID C2079
o 21.6 g/t Au and 20 g/t Ag over 1.3 m Hole ID C2087
o 20.0 g/t Au and 28 g/t Ag over 1.6 m Hole ID C2089
o 17.3 g/t Au and 136 g/t Ag over 3.1 m Hole ID C2076
o 14.8 g/t Au and 39g/t Ag over 1.3 m Hole ID C2085
o 13.5 g/t Au and 8 g/t Ag over 0.9 m Hole ID C2084
o 12.8 g/t Au and 27 g/t Ag over 1.2 m Hole ID C2065
o 12.4 g/t Auand 154 g/t Ag over 1.5 m Hole ID C2059
• Next phase of drilling at V25N planned; further 11,600 metres
to be drilled in 2020
Alexander Dorogov, CEO of Trans-Siberian Gold commented:
“We are pleased to report a further set of exciting drilling
results from Vein 25 North in the East Zone of
Asacha. This high-grade orebody has made a significant
contribution to our mineral resource inventory
and we hope to extend its scale through further drilling in H2
2020. Additionally we’ll be drilling proximal
step-out targets. Our exploration work has delivered notable
results and we look forward to providing
further updates on our progress.”
1 Since RNS announcement of 18 April 2020
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During the first half of 2020, the Group’s drilling programme
has been focused on V25N, which was discovered in September 2019
and has since produced very positive drilling results. This
auriferous zone is now at least 600 metres long, 300 metres deep
and extends to within 50 metres of the existing adit that was
developed to reach Vein 25 South. On 16 June 2020, TSG announced a
new JORC compliant Mineral Resource Estimate as of 30 April 2020
for the Asacha Gold Mine. The new resource for V25N was 5.4 tonnes
(173,000 oz.) of gold in the Indicated category and 0.6 tonnes
(19,000 oz.) of gold in the Inferred category. Average gold grades
for the mineral resources in each category were 18 g/t Au and 13
g/t Au respectively. The Company has calculated the discovery cost
of Mineral Resources defined at V25N as being approximately
$11.86/oz gold. Since 30 April 2020, the Group has drilled 16 new
holes totalling 4,100 metres on V25N. Since October 2019, a total
of 19,100 meters has been drilled on V25N. Building on the
successful drilling to date, a further 11,600 metres is planned to
be drilled at V25N during the remainder of 2020.
Table 1: 19 April 2020 to 9 July 2020 drilling results on Vein
25N
Hole ID Collar Coordinates Azimuth 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-2056 55300 42257 340 270 -55 453 431.8 432.4 0.6 0.32 0.8
36
C-2058 54901 42222 314 270 -54 365 347.4 348.1 0.7 0.46 1.5
24
C-2059 54950 42245 326 270 -58 384 353.3 354.8 1.5 1.28 12.4
154
C-2062 55000 42253 334 270 -58 450 383.7 384.4 0.7 0.41 0.1
2
C-2065 54848 42173 303 270 -60 345 285.6 286.8 1.2 0.69 12.8
27
C-2069 55382 41970 279 90 -61 145 123.7 124.6 0.9 0.46 4.0
23
C-2071 55199 42209 348 270 -59 385 365.0 366.7 1.7 0.90 31.4
98
C-2073 55149 42204 347 270 -59 380 332.7 334.5 1.8 1.10 7.7
24
C-2076 55100 41849 271 90 -52 363 347.1 350.2 3.1 1.70 17.3
136
C-2079 55150 41910 279 90 -49 250 183.4 184.1 0.7 0.40 27.4
51
C-2080 55381 41906 270 90 -50 220 192.7 193.5 0.8 0.50 89.2
214
C-2081 55150 41910 279 90 -56 243 214.5 218.7 4.2 1.80 9.6
22
C-2082 55379 41906 270 90 -57 250 220.4 221.4 1.0 0.60 6.7
69
C-2083 55200 41827 274 90 -55 400 343.0 345.1 2.1 1.10 101.5
1,070
C-2084 55080 42083 307 270 -53 120 102.3 103.2 0.9 0.70 13.5
8
C-2085 55080 42083 307 265 -64 152 132.1 133.4 1.3 0.70 14.8
39
C-2086 54842 42210 273 273 -60 408 354.7 355.1 0.4 0.20 2.9
36
C-2087 55110 42088 309 270 -48 122 93.0 94.3 1.3 1.00 21.6
20
C-2088 55135 42086 310 270 -53 135 87.4 87.9 0.5 0.36 1.2 4
C-2089 55135 42086 310 261 -65 160 113.3 114.9 1.6 0.88 20.0
28
C-2090A 55150 41833 271 90 -51 430 361.5 365.1 3.6 1.70 9.9
256
C-2091 55100 41849 271 90 -52 462 343.2 345.6 2.4 1.10 9.9
311
A vertical longitudinal section showing metal factors (true
horizontal width X gold grade) and selected
drilling results obtained to date from the 2019-2020 drilling
campaign are shown in Figure 1.
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Figure 1. Vein 25 longitudinal with drill assay results and
metal factors.
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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 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 600 metres laterally
(North-South) and 300 metres vertically. The high-grade auriferous
zone is assessed to remain open at depth and to the North.
Drilling will continue at the Asacha Gold Mine with two rigs
until the end of the year. Aditionally, there is
a series of other high potential targets on the licence area
that will be explored by trenching during the
next few months in advance of drilling in the winter (see Figure
2).
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Figure 2. Asacha Property geology and drilling targets
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Figure 3. Vein 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 tables from this
press release, is available from the
Company's website: www.trans-siberiangold.com
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. Qualified Person Review Information in this
announcement that relates to exploration results is based on
information compiled by Mr. Jacquelin Gauthier, P.Geo., 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
http://www.trans-siberiangold.com/
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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)
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.
