Scythian Mining Group Ltd’s mission is to find one of the biggest gold deposits in the world.

Scythian Mining Group objectives are simple, find world class economic gold deposits at the lowest possible cost to shareholders to build a world class mining company.

To achieve this aim SMG have accumulated an experienced exploration and mining team with over 140 years of international experience and over 50 years experience in Central Asia. Central Asia was selected because it has the potential for world class deposits, and hasn’t had serious exploration in the last 50 years.

The deposits which SMG have selected Kokkus (very similar to Sukhoi Log, 64m oz Au) and Dzharyk South (a high grade Au porphyry system) are both potentially +20m oz Au.

Scythian Mining Group Plan to IPO 2018-2019 & Beyond

Location of Gold Deposits


  • Acquisition of Dzharyk South (Acquired in late-2018)
  • Acquisition completion of Altyn Kokkus in Q2 2019
  • Complete exploration increase JORC resource to +2m oz Au and Feasibility Study at Altyn Kokkus by Q4 2020
  • Complete exploration and increase oxide resource to +2m oz Au complete a Feasibility Study at Dzyhark South by Q4 2023
  • Focus on increasing JORC resource at Dzharyk South at depth to outline Cu-Au potential in addition to the Au only potential at surface, which will be the source of the initial producing Au oxide heap leach operation.
  • Target IPO Late 2019-2020 to further develop Kokkus and Dzharyk South

Round 1:

US$4m Net Funding received from  strategic investor. 

Round 2:

US$1M already raised to date.

  1. 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.
  2. Letter of Consent has been submitted for East Balkhash and final payment is due in 6 weeks.(Funds available)
  3. Letter of Consent for Kokkus has been submitted Kokkus resource increased by 255,000 oz Au
  4. New Au porphyry system identified at EB
  5. Exploration 2019
    1. 10,000m drilling planned for Dzhark South
    2. To test the soil Au anomalies outlined by SMG
    3. In December 2019 to obtain a JORC Inferred resource.


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

12.9 sq Km SSRUC, Kokkus Deposit, plus Prospects A, B & C Potential to increase resource to +500,000 oz Au, if COG decreased to 0.2g/t Au

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
TonnageAu GradeAu oz
Potential Resource in the Licence
  1. In 2017, additional cone crusher allowing crushing  of +55,000 tonne / month and a gold room  added, reducing Opex cost by 10%
  2. These additions will allow for production to reach +15,000oz Au pa in 2018, at much lower Opex
  3. Plant 6 years old, but has been operational for only 3 years. Production max capacity of 20,000oz pa Au
  4. Excellent infrastructure, with the main Almaty-China highway going through the license, access to mains power and close to Saryozek
  5. Significant exploration upside around existing mine site with an additional Geological Allotment covering 9.5 sq km
  6. 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)
  7. 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.