Auriant restarted exploration at Solcocon in 2017 and is pleased to announce preliminary drilling results of its 2017 exploration campaign which were concentrated on the North-East flank of Solcocon's Bolomolovskoye deposit, which was formerly the prime source of oxidized ore for heap leach processing in 2013 and 2014.
Prior to the 2017 exploration campaign, the resources of the Bogomolovskoye deposit amounted to 227,000 ounces (7.0 tonnes) of AU (mostly C2 according to Russian GKZ national resource classification system). Including all deposits, total Solcocon resources were 501,000 ounces (15.6 tonnes).
During 2017 the Company completed drilling of 4,100 meters of core, and 26,000 cubic meters of trenches. A total of 5,458 samples were taken. In addition, in 2017 Auriant carried out a cameral assessment of its exploration activities carried out in 2014 of the South flank of Bogomolovskoye deposit, where in that year the Company completed 5,000 meters of core drilling.
A preliminary assessment of the exploration results is as follows:
| Campaign | Area | Resources | Reserves | ||
| C2 (000 oz) | C2 (t) | P1 (000 oz) | P1 (t) | ||
| 2014 Exploration | South Flank | 9.6 | 0.3 | 16.1 | 0.5 |
| 2017 Exploration | North-East | 48.2 | 1.5 | - | - |
| TOTAL | 57.8 | 1.8 | 16.1 | 0.5 | |
Auriant will now submit these resources for approval by GKZ for addition to the Solcocon total resources noted above as exploration will continue in future year. In 2016 Auriant completed a technological test of ore from Bogomolovskoye deposit with an independent laboratory - which demonstrated good recovery from a simple CIP process of some 84%.
In 2018 and 2019 Auriant will continue the exploration of this deposit, with further focus on the flanks of the Bogomovolskoye deposit (including North-East and South flanks) and particularly on the continuation of identified gold bearing structures.
For more information, please contact:
Sergey Ustimenko, CEO
tel: +7 495 109 02 82
e-mail: sergey.ustimenko@auriant.com
Company name: Auriant Mining AB
Short name: AUR
ISIN-code: SE0001337213
Website: www.auriant.com
Twitter: @auriantmining
Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in Zabaikalye and the Republics of Khakassia and Tyva. The company has currently four assets, including one operating mine (Tardan), one early stage exploration asset and two development assets.
Since July 19, 2010, Auriant Mining's shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name AUR. For more information please visit www.auriant.com. Mangold Fondkommission is Certified Adviser to Auriant, for more information please call +46 8 503 015 50 or visit www.mangold.se.
Cautionary Statement: Statements and assumptions made in this report with respect to Auriant Mining AB's ("AUR") current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of AUR. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where AUR operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) AUR's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. AUR assumes no unconditional obligation to immediately update any such statements and/or forecasts
This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Auriant Mining AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.
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