Scythian Mining Group Ltd (SMG) mission is to find one of the biggest gold deposit in the world.
SMG has been established by very experienced mining professionals who have a combined mining experience of over 110 years, of which 51 years have been in Central Asia. Over these years SMG have studied many large deposits worldwide, most notably the giant Muruntau Deposit in Uzbekistan. From these studies they have identified 4 exploration targets similar to the Murunatu deposit around the Central Kyzylkum desert.
After establishing a substantial positive cash flow from Dalabai and next Kokkus, SMG will shift its focus on finding other Muruntau style deposits in Central Asia and elsewhere.
SMG has been established by very experienced mining professionals who have a combined mining experience of over 110 years, of which 51 years have been in Central Asia. Over these years SMG have studied many large deposits worldwide, most notably the giant Muruntau Deposit in Uzbekistan. From these studies they have identified 4 exploration targets similar to the Muruntau deposit around the Central Kyzylkum desert.
After establishing a substantial positive cash flow from Dalabai and next Kokkus, SMG will shift its focus on finding other Muruntau style deposits in Central Asia and elsewhere.
SMG has been established by very experienced mining professionals who have a combined mining experience of over 110 years, of which 51 years have been in Central Asia. Over these years SMG have studied many large deposits worldwide, most notably the giant Muruntau Deposit in Uzbekistan. From these studies they have identified 4 exploration targets similar to the Muruntau deposit around the Central Kyzylkum desert.
After establishing a substantial positive cash flow from Dalabai and next Kokkus, SMG will shift its focus on finding other Muruntau style deposits in Central Asia and elsewhere.
SMG has been established by very experienced mining professionals who have a combined mining experience of over 110 years, of which 51 years have been in Central Asia. Over these years SMG have studied many large deposits worldwide, most notably the giant Muruntau Deposit in Uzbekistan. From these studies they have identified 4 exploration targets similar to the Murunatu deposit around the Central Kyzylkum desert.
After establishing a substantial positive cash flow from Dalabai and next Kokkus, SMG will shift its focus on finding other Muruntau style deposits in Central Asia and elsewhere.
SMG has been established by very experienced mining professionals who have a combined mining experience of over 110 years, of which 51 years have been in Central Asia. Over these years SMG have studied many large deposits worldwide, most notably the giant Muruntau Deposit in Uzbekistan. From these studies they have identified 4 exploration targets similar to the Muruntau deposit around the Central Kyzylkum desert.
After establishing a substantial positive cash flow from Dalabai and next Kokkus, SMG will shift its focus on finding other Muruntau style deposits in Central Asia and elsewhere.
Location of Gold Deposits
Round 1: Funding secured for $4m from large Russian investor (Russian Investment Group) All projects secured with signed SPAs and deposits paid totaling $1.7M…completed. $3 raised…completed
Round 2: $1M already raised to date.
- SSRUC East Balkhash has been extended for 2+2 years, and Kokkus SSRUC is under application to be approved in 2 moths for another 2 years to complete PFS and FS.
- Letter of Consent has been submitted for East Balkhash and final payment is due in 6 weeks.(Funds available)
- Letter of Consent for Kokkus has been submitted Kokkus resource increased by 255,000 oz Au
- Dalabai production up to 22kg/ month
- New Au porphyry system identified at EB
- Exploration 2018
- 10,000m drilling planned for Dzhark South
- To test the soil Au anomalies outlined by SMG
- In December 2018 to get a JORC Inferred resource.
Strategies
Au-Ag soil results mirror a strong ASTER satellite outline 1088 soil samples were taken in 2018. The soil lines were spaced 200m apart and each sample was taken every 10-25m along the lines.
Au mineralization consists of a large quartz stock work with phyllic alternated granodiorite covering +2.2 sq km, with a structurally controlled higher grade Au & Ag zone along the top and bottom margins controlled by major shear zones caused by a compressional duplex.
The gold is free in the quartz stock work veins, meaning it should be leachable even below the water table. Depth extent to be tested.
Au grade is estimated at this very early stage to be around 1g/t Au.
Target net profit in 2018 $5m pa, and 2019 $9m pa after tax
| Current Dalabai JORC I & I | ||
| Tonnage | Au Grade | Au oz |
| 3,696,154 | 1.3 | 155,000 |
| Potential Resource in the Licence | ||
| 4,000,000 | 1.2 | +154,838 |
- In 2017, additional cone crusher allowing crushing of +55,000 tonne / month and a gold room added, reducing Opex cost by 10%
- These additions will allow for production to reach +15,000oz Au pa in 2018, at much lower Opex
- Plant 6 years old, but has been operational for only 3 years. Production max capacity of 20,000oz pa Au
- Excellent infrastructure, with the main Almaty-China highway going through the license, access to mains power and close to Saryozek
- Significant exploration upside around existing mine site with an additional Geological Allotment covering 9.5 sq km
- Additional 108,500 ozs Au will be added to the state balance in July 2018, bring the current oxide resource to 155,000 oz Au mineable oxide ore. (6 year mine life)
- Detailed independent production and geological DD was completed indicating 6 areas which can be updated to increase efficiencies which will result in production levels of 20,000 oz pa.
Currently a very good medium sized resource with excellent Au grades. 30% of resource is oxide, which can be treated with gravity separation.
Project secured, SPA signed and initial deposit paid with remaining to be paid on receiving of the Letter of Consent from Kazakhstani Government.
Field work has commenced to complete resource upgrade to JORC Indicated category, by drilling 2400m RC and 1700m DDH by Aug 2018. Potential to increase resource to 500,000 oz Au.
Metallurgy test work indicates the oxide zone can obtain a 70% Au recovery via gravity separation circuit (Knellson Concentrator) with a -0.02mm grind which allows for lower Capex and OpEx.
| Current Resource Kokkus, C2 | ||
| Tonnage | Au Grade | Au oz |
| 9.9mt | 1,13 | 342,122 |
2400m of RC drilling is currently need completed to upgrade, and increase the resource to JORC Indicated by August 2018
Infrastructure is good, power & road to site
