The Elginskoye deposit is located approximately 25km south from the Albyn plant. Gold mineralisation there is concentrated within a series of flat dipping mineralised zones located close to the surface, and is suitable for low cost open pit mining. The mineralisation has been proven to a strike length of more than 5km and remains open in south east and south west directions. Metallurgical tests show that the gold is predominantly non refractory.

Elginskoye was discovered by the group in 2011, and by the end of 2012 a large Inferred resource had been established there. Another extensive in fill drilling program commenced at Elginskoye in H2 2015. This was in order to upgrade some of its large Inferred Resources to the Indicated category and subsequently to increase Ore Reserves there, as well as to better define its high grade areas. This work is still in progress with drilling scheduled to finish later in 2016. Ore from Elginskoye is expected to be transported to the Albyn plant for processing.

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Elginskoye Mineral Resource and Ore Reserve Estimate (as of 31/12/2015, In accordance with JORC Code 2012, WAI April 2016)
Mineral ResourceOre Reserve
CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)
Indicated 58.9 0.81 1.54 Probable 9.57 0.91 0.28
Inferred 59.6 0.73 1.41        

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