The new Sosnovaya license covering area north east from Pokrovskiy and south west from Pioneer was acquired at government auction in December 2015. This new license covers geological contact between Cretaceous granitoids and Jurassic host rocks, believed to be favourable for the formation of gold deposits. The Sosnovaya license joins the two sites (Pioneer and Pokrovskiy) together and the Group now has control over the entire length of the eastern segment (c.80km long) of this prospective contact. WAI has reviewed the exploration potential of this license and believes it is possible that substantial new gold deposits will be discovered there.

The Group started early stage exploration at Sosnovaya in Q2 2016. As of Q3 2016 the first results identified a large (more than 8km) gold arsenic geochemical anomaly and its position coincides with historical alluvial workings. Group geologists consider these results to be very encouraging.

 

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