CGH Chaarat Gold Holdings Ltd

 
TIDMCGH 
 
Chaarat Gold Holdings Limited 
 
                          ("Chaarat" or "the Company") 
 
                                Drilling update 
 
Road Town, Tortola, British Virgin Islands (3 March 2011) 
 
Chaarat Gold Holdings Ltd (AIM:CGH) is pleased to report further drilling 
results from the Contact Project.  The Contact Project is located within the 
Contact Zone of the Kiziltash Project and comprises the mineralised body which 
has been created by combining the C4600 and C5300 projects. 
 
Selected results from the Contact Project of the Kiziltash Project 
 
  * UG-23 interval of 22.00 metres @ 6.60 g/t 
  * UG-25 interval of 6.92 metres @ 4.14 g/t 
  * UG-407 interval of 12.50 metres @ 6.82 g/t 
  * UG-407 interval of 5.68 metres @ 11.21 g/t 
  * UG-408 interval of 4.55 metres @ 9.87 g/t 
  * UG-410 interval of 5.94 metres @ 4.31 g/t 
 
Following the 2010 drilling season, Chaarat reported a JORC compliant resource 
of 4.406Moz at a grade of 4.2 g/t gold.  Included in the total is a JORC 
compliant resource of 2.001Moz at 4.20 g/t gold from the Contact Project. 
 Underground drilling continues at the Contact Project and the results reported 
today are the results from the first 10 drill holes not included in the 2010 
resource update.  Further results will be reported regularly. 
 
Mineralisation in the Contact Project has been established over a strike length 
of 1,160 metres and vertical extension to a maximum depth of 900 metres from the 
surface.  The mineralisation is open both along strike and down dip. 
 
Dekel Golan, CEO of Chaarat, comments "The results and the increase in strike 
and down dip continuity will not only add to the delineated resource in the 
deposit, but also have a positive impact on the potential mining rate of the 
Kiziltash project.  The results help to identify the higher grade trends in the 
mineralised body and focus exploration efforts on those areas which will 
increase the average grade of the whole deposit." 
 
 
 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| DH No.  |Project|Section| From |  To  |Intersected width|True width|Au g/t| 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-24  |  CP   | 4640  | 1.50 | 9.00 |      7.50       |   5.67   | 2.58 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-24  |  CP   | 4640  |128.50|151.00|      22.50      |  17.00   | 3.61 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-25  |  CP   | 4720  | 4.50 | 7.50 |      3.00       |   2.44   | 2.19 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-25  |  CP   | 4720  |21.50 |23.00 |      1.50       |   1.22   | 7.30 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-25  |  CP   | 4720  |131.00|144.50|      13.50      |  11.00   | 3.11 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-25  |  CP   | 4720  |161.00|180.50|      19.50      |  18.00   | 3.33 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|including|  CP   | 4720  |161.00|170.00|      9.00       |   8.31   | 3.55 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|including|  CP   | 4720  |173.00|180.50|      7.50       |   6.92   | 4.14 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-23  |  CP   | 4800  | 1.50 |10.50 |      9.00       |   6.60   | 2.46 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-23  |  CP   | 4800  |100.50|130.50|      30.00      |  22.00   | 6.60 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-23  |  CP   | 4800  |133.50|144.00|      10.50      |   7.70   | 3.38 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-23  |  CP   | 4800  |148.50|150.00|      1.50       |   1.10   | 7.19 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-26  |  CP   | 4800  |153.50|158.00|      4.50       |   3.38   | 2.73 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|  UG-26  |  CP   | 4800  |168.50|192.50|      24.00      |  18.00   | 4.14 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-601  |  CP   | 4960  |43.50 |52.50 |      9.00       |   7.00   | 2.09 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-601  |  CP   | 4960  |258.00|264.00|      6.00       |   4.67   | 3.69 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-601  |  CP   | 4960  |268.50|271.50|      3.00       |   2.33   | 2.74 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-407  |  CP   | 5280  |99.00 |115.50|      16.50      |  12.50   | 6.82 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
|including|  CP   | 5280  |108.00|115.50|      7.50       |   5.68   |11.21 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-408  |  CP   | 5280  |131.50|136.00|      4.50       |   3.41   | 2.61 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-408  |  CP   | 5280  |149.50|155.50|      6.00       |   4.55   | 9.87 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-406  |  CP   | 5360  |126.50|132.50|      6.00       |   5.00   | 2.09 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-406  |  CP   | 5360  |137.00|140.00|      3.00       |   2.50   | 2.00 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-406  |  CP   | 5360  |158.00|159.50|      1.50       |   1.25   | 3.20 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-406  |  CP   | 5360  |165.50|167.00|      1.50       |   1.25   | 3.03 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-409  |  CP   | 5360  |204.00|210.00|      6.00       |   5.00   | 3.29 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-409  |  CP   | 5360  |223.50|226.50|      3.00       |   2.50   | 5.00 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-409  |  CP   | 5360  |262.50|265.50|      3.00       |   2.50   | 2.85 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-409  |  CP   | 5360  |274.50|277.50|      3.00       |   2.50   | 4.75 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-410  |  CP   | 5360  |238.00|250.00|      12.00      |   9.50   | 2.57 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-410  |  CP   | 5360  |269.50|272.50|      3.00       |   2.38   | 6.53 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-410  |  CP   | 5360  |287.50|295.00|      7.50       |   5.94   | 4.31 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-410  |  CP   | 5360  |302.50|305.50|      3.00       |   2.38   | 3.16 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-410  |  CP   | 5360  |320.50|325.00|      4.50       |   3.56   | 2.31 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-410  |  CP   | 5360  |341.50|343.00|      1.50       |   1.19   | 4.21 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
| UG-410  |  CP   | 5360  |404.50|406.00|      1.50       |   1.19   | 5.54 | 
+---------+-------+-------+------+------+-----------------+----------+------+ 
Note to Editors: 
 
 Further information about the Company: 
 
  Chaarat Gold Holdings Limited           +44 (0) 20 7499 2612 
                                          dekel@chaarat.com 
  c/o Central Asia Services Limited       linda.naylor@chaarat.com 
 
 
 
 Westhouse Securities Limited             +44 (0) 20 7601 6100 
 
 Tim Feather                              tim.feather@westhousesecurities.com 
 Richard Baty                             richard.baty@westhousesecurities.com 
 
 Smith's Corporate Advisory               +44 (0) 20 7321 2508 
 
 Dominic Palmer-Tomkinson                 tomkinson@smiths-ca.com 
 
 
Note to Editors: 
 
About Chaarat Gold 
 
Chaarat  Gold is an exploration and  development company operating in the Kyrgyz 
Republic.   The Company's main activity is  the development of the Kiziltash and 
Tulkubash  projects situated within the Middle Tien Shan Mountains of Kyrgyzstan 
which form part of the Tien Shan gold belt.  The Company has thus far delineated 
a  JORC compliant  mineral resource  of 4.406 Moz  at a  grade of  4.20 g/t gold 
across  both deposits.  The Company  is currently in the  process of compiling a 
Pre-Feasibility  study  on  the  Kiziltash  project and a Definitive Feasibility 
Study  on the Tulkubash  project.  Chaarat's objective  is to become  a low cost 
gold  producer targeting  production of  over 200,000 ounces  per annum by early 
2014 from the Kiziltash project with first production from the smaller Tulkubash 
project in mid 2012. 
 
www.chaarat.com 
 
Competent Person 
The Competent Person with overall responsibility for this press release, and who 
has reviewed the information contained herein, is Sunit Patel M.Sc (Geology), 
FGS, GSSA, who is an employee of Chaarat Gold.  Mr. Patel is an exploration 
geologist with 22 years of experience in the resource industry who has 
sufficient experience relevant to the style of mineralisation and type of 
deposit under consideration and was supervisor to the work subject of this 
release. 
 
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 in this document to reflect any 
change in Chaarat's expectations with regard to these 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. 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE 
 
[HUG#1494006] 
 

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