The Krasnoyarsk region covers approximately 2,339,700km2 and stretches across the central part of the Russian Federation. The area is rich in various types of mineral resources, including coal, oil, gas, iron-ore, magnetite, platinum, lead, copper, nickel, graphite and other rare and precious metals and minerals. It is one of the largest and oldest gold-producing regions of Russia.
Petropavlovsk's assets in the Krasnoyarsk region include the significant Visokoe non-refractory deposit, currently at a pre-production stage, as well as the Troeusovskaya and Verkhnetisskaya exploration licence areas. All three assets are located on the Yenisei Ridge, which is home to some of Russia’s largest and best-known gold deposits.
Visokoe has confirmed JORC-compliant Mineral Resources and Ore Reserves. The Group is preparing a full feasibility study on Visokoe, which will evaluate the best options for the project’s development. Extensive exploration and test work have indicated ore at Visokoe to be non-refractory and suitable for economic processing in an RIP plant or through heap-leaching.
The further development of Visokoe is not planned until after the POX plant has been commissioned and ramped up.
In addition to Visokoe, the Group holds two further exploration licences in the Krasnoyarsk region with 540Koz of JORC refractory gold Resources. Limited work is currently being undertaken on these licence areas, as the Group is concentrating on the development of its core projects in the Amur region.