The first stage of drilling at the Kurumsak field has been completed

The first stage of drilling at the Kurumsak field has been successfully completed. Drilling was carried out using advanced technologies and was based on digitized and developed 3D models of the ore body, created on the basis of historical data from 1946 to 1951. Based on this research, SRK can begin to develop a Mineral Resource Assessment (MRE) for the Vanadium project.

The verification drilling program developed by SRK allowed us to confirm the studies conducted earlier by Soviet geologists. When developing the Mineral Resource Assessment (MRE) for the Kurumsak vanadium project, SRK will act as a competent person in accordance with KAZRC and JORC 2012, which will provide reliable and objective data for further resource development.

Mr. Grigory Granovsky, SRK Senior Consultant, and Mr. Peter Gleason, SRK Corporate Consultant, have already visited the Kurumsak field in accordance with the agreement and conducted observations of the drilling program. Their presence confirms the importance of the project and its potential.

Coffey Tetra Tech carried out desk work, including a feasibility study and determination of the optimal technological process for the development of mineral resources, as well as an analytical assessment of the feasibility of using eight technological processes for processing ore from the Kurumsak deposit. The effectiveness of each process was evaluated according to a number of criteria, including health, employee safety, the environment and financial performance.

The completion of the first stage of drilling and the beginning of MRE development are an important stage in the development of the Kurumsak field project.