Exploration project with Discovery Ventures Kazakhstan Ltd in Karaganda, Zhambyl and East Kazakhstan regions

Discovery Ventures Kazakhstan Ltd. (hereinafter – Discovery) is a Kazakhstani junior company, a wholly owned subsidiary of the British East Star Resources Plc., an exploration and production company listed on the London Stock Exchange.

Starting from 2020 work is being carried out together with Discovery on 4 licenses in three regions on a total area of about 1.2 thousand km2 as part of the exploration project to search for polymetallic deposits.

In 2021, the following results were achieved in terms of geological exploration:

  • On the Dalny site:
    • aeromagnetic exploration was carried out and data on the area of 481 km2 were obtained;
    • additional historical data has been obtained for study. The historical gold content in 7 samples is from 2.10 to 7 g/t.
  • On the Apmintas site:
    • aeromagnetic exploration was carried out and data on the area of 380 km2 were obtained;
    • 3127 meters were drilled on 12 objects under the license (RC drilling). The gold content on the Novoye site is 4.51 g/t.
  • On the Novo-1 and Novo-2 sites:
    • historical data is being collected for study;
    • the analysis of available data for field work planning is underway.

On October 07, 2021, Tau-Ken Samruk and Discovery signed a joint venture agreement. On February 09, 2022, two joint ventures were established on the site of the Astana International Financial Center with a split of 80% by 20% interest in favor of Discovery and Tau-Ken Samruk respectively. On April 13, 2022, within the framework of cooperation with Discovery, licenses for exploration of solid minerals were transferred in favor of joint ventures.

At the moment, Discovery continues to carry out exploration work, including lithogeochemical work, core drilling work, interpretation of the results of geophysical work.