Sosnovaya Exploration License
The Sosnovaya license covering area north east from Pokrovskiy and south west from Pioneer was acquired at government auction in December 2015. This 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 its 80km long eastern segment. 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. Later in 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.
Towards the end of 2016 a new non-refractory deposit, Katrin, was discovered c.25km south of the Pioneer process plant. The first three zones of this deposit were extensively explored during H1 2017, and the first resource and reserve estimate for Katrin is under preparation.