Tokur is a hard rock, non refractory gold deposit located in the north eastern part of the Amur region, approximately halfway between the Malomir and Albyn mines. Being a former Soviet era mine based in an area of intensive, historical alluvial mining, Tokur benefits from developed infrastructure, including all weather roads and power supply. This led it to become a base for the Group’s expansion into the area. The project’s facilities, which include mechanical workshops, dormitories and a canteen, are in regular use both by the company workers passing through and by third parties for a fee. The chemical and fire assay laboratory located at Tokur is fully employed by the Group’s exploration division.

Tokur is at an advanced stage of exploration and potentially suitable for reopening as an open pit mine. While the deposit is not currently in commercial production, it contains significant JORC Mineral Resources and Ore Reserves, suitable for processing in a RIP plant. Group geologists believe it has further underground mining potential, which is yet to be formally assessed.  At this stage, the asset’s development into a full scale mining operation has been put on hold to minimise the Group’s capital expenditure in the current gold price environment. In line with the Group’s plan to focus on existing producing assets in the short term, no significant capital expenditure has been allocated to this project in the short or medium term. The Group intends to review its development plans for Tokur in the medium term.

JORC Resources and Reserves in Accordance with JORC Code 2004 as of 31/12/2010, WAI March 2011

Total (Open Pit, Non-Refractory)
Mineral ResourceOre Reserve
CategoryTonnage (kt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (kt)Avg. Grade (g/t)Contained Metal (Moz)
Measured 11,952 1.30 0.50 Proven 2,028 1.47 0.10
Indicated 16,096 1.06 0.55 Probable   2,195  1.44  0.10
M +I 28,048 1.16 1.05 P+P 4,223 1.45 0.20
Inferred 10,706 1.09 0.38        

Note: all Tokur Resources and Reserves are non-refractory and siutable for open pit extraction, there are no changes to Tokur Resources and Reserves since 2010.

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