AltynGold Plc has been granted a two-year contract extension for its Teren-Sai subsoil exploration area, allowing for further exploration and testing until March 2026. The extension comes after the approval of the company’s work program.
Since being awarded the original exploration contract in 2016, AltynGold conducted a Competent Persons Report (CPR) in 2019, which estimated a total of 1.48 million ounces of mineral resources in area No 2. Subsequent detailed drilling confirmed these results and defined the ore bodies more accurately. As a result, the exploration area was narrowed down to targeted zones, with non-required areas being returned.
Currently, AltynGold is executing a work program on area No 2 with the goal of commencing open-pit production once sufficient data has been gathered from further exploration activities.
AltynGold Plc is a listed exploration and development company on the Main Market segment of the London Stock Exchange. For more information, visit their website.
Contact information for AltynGold Plc can be found on their website.
This information is considered inside information by the company, in accordance with the Market Abuse Regulation (EU) No. 596/2014.
Source: [Business Wire](https://www.businesswire.com/news/home/20240411552343/en/)
AltynGold Plc operates in the mining industry, specifically in the exploration and development of mineral resources. The company’s primary focus is on the Teren-Sai subsoil exploration area.
According to a Competent Persons Report (CPR) conducted in 2019, AltynGold’s area No 2, within the Teren-Sai exploration area, is estimated to contain a total of 1.48 million ounces of mineral resources. This report has provided valuable information for the company’s ongoing exploration activities and has allowed for a more accurate definition of the ore bodies within the area.
With the two-year contract extension granted, AltynGold will continue its work program on area No 2 until March 2026. The company’s goal is to gather sufficient data through further exploration activities to commence open-pit production in the future.
AltynGold Plc is listed on the Main Market segment of the London Stock Exchange. Being a publicly traded company, AltynGold’s performance and developments can have an impact on the mining industry and investors in the sector.
Market forecasts for the mining industry indicate that the demand for mineral resources and commodities is expected to grow steadily in the coming years. The exploration and development of new mining projects, such as AltynGold’s Teren-Sai project, will play a crucial role in meeting this demand.
However, the mining industry also faces various challenges and issues. Environmental concerns, regulatory compliance, and community relations are important considerations for mining companies. Additionally, fluctuations in commodity prices and geopolitical factors can affect the profitability and viability of mining projects.
For more information about AltynGold Plc and its operations, you can visit their [website](https://www.altyn.com/).
Related links:
– London Stock Exchange
– Mining.com