Positive Laboratory Tests
11 Fevereiro 2008 - 5:00AM
UK Regulatory
RNS Number:6880N
Chaarat Gold Holdings Ltd
10 February 2008
For immediate release 11th February 2008
Chaarat Gold Holdings Ltd
("Chaarat" or "the Company")
Chaarat Gold Holdings Ltd (AIM:CGH) reports positive gold recovery from the Chaarat mineralisation in laboratory
scale metallurgical tests
Road Town, Tortola, British Virgin Islands (11th February 2008).
Chaarat is pleased to announce the positive results from recent laboratory tests which demonstrated 94%-96% gold
recovery of the mineralised samples extracted from the Chaarat deposit. The work was conducted by RDI (an
independent party) as part of the Scoping Study being undertaken by Behre Dolbear (UK). This confirms the results
of preliminary metallurgical testwork undertaken previously.
Highlights
* Gold recovery of 94% to 96% was obtained from a composite sample assaying 4.68 g/t Au, 1.087% As and 2.343% Ssulfide.
* Order-of-Magnitude capital cost for a plant processing 1.5 million tpy was estimated at 180 MM dollars.
* The operating cost for the process was estimated at $18.27/tonne.
Dekel Golan CEO of Chaarat comments: "We are delighted with the positive results. This is a further step towards
proving the economic viability of the Chaarat gold deposits. These results are very much in line with previous
metallurgical tests conducted on the deposit and help contribute towards management's aim of achieving production
at a rate of 200,000 ozs of gold per annum.
Discussion
The metallurgical study was performed by Resource Development Inc., (RDi) from Wheat Ridge, Colorado, USA as part
of the Scoping Study being undertaken by Behre-Dolbear of the UK. The testwork undertaken by Resource Development
Inc., (RDi) was performed on analytical reject samples and core samples from the drill holes 20,22,24,28,45 from
drill holes on the M24, M30 and C53 project areas. The core samples composites (cherty siltstones and
carbonaceous cherty siltstones with interlayers of sandstones) were used for physical characterization whereas
the analytical reject sample composite were used for flotation, pressure oxidation and cyanidation testing.
The crushing and grinding data provided in the table below indicate that the samples are characterized as "hard
to very hard but not abrasive".
Crushing and Grinding Work Indices
Parameter Metallurgical Sample
1 2
Crusher work index, kw-hr/mt 10.25 10
Abrasion Index 0.0234 0.0397
Rod Mill Work Index 16.8 15.5
Results of pressure oxidation followed by cyanidation on the whole ore samples ground to 80% passing 106 microns
indicated gold extractions of 94% to 96% at 100% sulfur oxidation. The cyanide consumption was reasonable at
0.16 kg/t to 0.38 kg/t.
Pressure Oxidation Followed by Cyanide Leach Test Results
Test Process Extraction, Sodium % Sulfur
Conditions % Au Cyanide Oxidation
Consumption, kg/t
1 No oxidation 18.90% 2.426 0%
2 Pressure oxidation at 39.90% 0.83 11.40%
200/C and 475 psi for 30 minutes
3 Pressure oxidation at 94.50% 0.379 100%
200/C and 475 psi for 1 hour
4 Pressure oxidation at 95.90% 0.16 100%
200/C and 475 psi for 2 hours
Additional Tests
RDi also investigated two additional processing routes, namely, whole ore bio-oxidation followed by cyanidation,
and flotation to produce a high-grade gold concentrate which could be processed further to extract gold or sold
to a smelter. The bio-oxidation leach process was simulated by using nitric acid as an oxidizing agent. Gold
recoveries for both these processes proved to be inferior to the proposed process.
Process Selection and Cost Estimates
Based on the test results, RDi recommends that the whole ore be pressure oxidized followed by cyanidation to
recover gold and silver values. Conceptual process flowsheet(s) were developed for the pressure oxidation and
bio-oxidation processes and order-of-magnitude capital and operating costs were estimated based on processing
1,500,000 tpy. The costs were as follows:
Process Capital Cost, MM$ Operating Cost, $/mt
Pressure Oxidation 180.4 18.27
Bio Oxidation 149.4 16.23
Competent Person
This press release was prepared by Chaarat Gold Holdings Ltd. and was reviewed and approved by Dr. Deepak
Malhotra, President of RDi. Dr. Malhotra is a metallurgist/mineral economist with over 35 years experience in
the mineral industry. He has been responsible for the metallurgical process development for numerous projects.
RDi has been involved with Chaarat since 2005.
About the Chaarat Gold Project
The Chaarat project is situated within the Middle Tien Shan Mountains of Kyrgyzstan which form part of the Tien
Shan gold belt. At the completion of the 2006 exploration season, a Mineral Resource of 1.87Moz Au (JORC
compliant in the Indicated and Inferred categories) had been delineated. The Company's exploration programme is
aimed at increasing the confidence levels in this Resource through infill drilling and increasing the resource
through down-dip and along-strike extension drilling. In addition the company intends to explore the remaining
gold occurrences outside of those currently drilled in the central 6km of the 40km strike length within the
Chaarat Licence Area.
About Chaarat Gold Holdings Chaarat Gold Holding is an exploration company founded for the purpose of developing
its sole asset, being the Chaarat License Area. Chaarat was admitted to AIM on 8 November 2007.
Chaarat has 71.9 million outstanding shares and approximately $12.8million in cash allowing it to comfortably
continue its exploration program for 2008 and beyond.
Disclaimer
This press release includes forward-looking statements. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors beyond Chaarat's control that would cause the actual results,
performance or achievements of Chaarat to be materially different from future results, performance or
achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based
on numerous assumptions regarding Chaarat's present and future business strategies and the environment in which
Chaarat will operate in the future. Any forward-looking statements speak only as at the date of this document.
Chaarat expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any
forward-looking statements contained herein to reflect any change in Chaarat's expectations with regard thereto
or any change in events, conditions or circumstances on which any such statements are based. As a result of these
factors, the events described in the forward-looking statements in this press release may not occur either
partially or at all.
Enquiries:
Chaarat Gold Holdings Ltd Tel: +44 (0) 20 7499 2612
Dekel Golan - Dekel@chaarat.com
Terry Cross - terry@caserve.co.uk
Dominic Palmer-Tomkinson - tomkinson@smiths-ca.com
Canaccord Adams Limited Tel: +44 (0) 20 7050 6500
Mike Jones
This information is provided by RNS
The company news service from the London Stock Exchange
END
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