The Central Mukur Gold Project

"The Central Mukur deposit was discovered by the Semipalatinsk Geological Exploration Expedition (GEE) during detailed searches from 1977 to 1980. Andas Altyn Ltd., a Kazakhstanian gold mining company acquired the property and commenced mining in 1995. In 1998, Andas-Altyn Ltd. became a wholly owned subsidiary of Eurasia Gold Corporation.The Central Mukur gold project covers a linear series of parallel, discontinuous zones of near surface oxide gold mineralization that covers a distance of 7 kilometers and extends past the property boundaries. The oxide gold mineralization is a result of the regional oxidization of a primary sulfide gold mineralization emplaced in a series of shallow dipping thrust faults. Resources as calculated by the GEE are 3.45 mt at an average grade of 1.84 gmt Au in the C1 +C2 category and 7.52 mt at an average grade of 1.80 gmt Au in the P1 category. The Central Mukur Gold Heap Leach Mine consists of an open pit, heap leach pads, and an ion exchange resin gold recovery plant. Limited gold production (<2,500 ounces/year) has been achieved over the past three years leaching run of mine oxide gold mineralization. Gold recovery utiling cyanide to dissolve the Au and ionic resin technology to recover the Au for the leachate is approximately 60%. Loaded resin is shipped to a treatment plant at Almaty where the gold is stripped from the resin, refined and sold.This paper will describe the geology, mining, and processing of the Central Mukur ore. In addition, it will describe what it is like doing business in Kazakhstan and the transition from a Soviet style operation to a more western style operation.INTRODUCTIONThe Central Mukur Mine is owned and operated by Andas-Altyn Ltd. a Kazakhstanian gold mining company located in northeast Kazakhstan. Andas-Altyn is a wholly owned subsidiary of Eurasia Gold Corp., a Canadian public company listed on the Alberta Stock Exchange. The Central Mukur mine consists of a small open pit, and a heap leach operation that utilizes ion exchange resin to recover gold from pregnant solutions. In addition to the Central Mukur mine, Eurasia also owns the Myaly heap leach gold project which is also operated by Andas- Altyn Ltd."