Chaarat Gold Holdings Ltd (‘Chaarat’ or ‘the Company’) is a gold exploration and development company which is listed on London’s Alternative Investment Market (AIM) (ticker symbol CGH).
The Company has a 100% interest in the 604 square kilometre exploration licence in the western part of the Kyrgyz Republic, which covers an area of extensive gold mineralisation, within the Tien Shan Gold Belt. In 2010, the Company announced a resource update at its Chaarat Gold Project, delineating a JORC compliant mineral resource of 4 Moz at a grade of 4.14 g/t gold. The resource increase was the result of a 5,357 metre drilling programme across a six kilometre strike length.
A scoping study demonstrating the economic viability of the Chaarat Gold Project was completed at the end of 2008. The Company is currently in the process of compiling a pre-feasibility study which is on track for completion Q3 2010. Chaarat's objective is to become a low cost gold producer targeting an initial production of over 200,000 ounces per annum by early 2013.
Extensive prospecting has only been conducted on one of the three known clusters of gold occurrences within an area of approximately 48km2, referred to as the Chaarat Gold Project, which hosts many highly prospective gold occurrences. The two other prospective clusters which have been identified in the Licence area, Minteke and Kashkasu will be explored as soon as practical.