Chaarat Gold: Kyrgyzstan Drilling Shows Encouraging Results

22nd Jun 2010 07:28

LONDON (Dow Jones)--Chaarat Gold Holdings Ltd (CGH.LN) Tuesday announces encouraging drilling results from its underground and surface drilling program at its 100% held, 604 square kilometer, Chaarat Gold Property in Kyrgyzstan. MAIN FACTS: -The drilling program is taking place on the central Chaarat target which hosts three parallel striking mineralization trends, the Main, the Contact and the Tulkubash Zones at the Chaarat Project, for which a JORC compliant resource estimate of 4.009 million ounces at 4.14 g/t of gold has been reported. -The results reported below refer to one surface drill hole at the M3000 Project in the Main Zone and two underground drill holes at the C5300 project in the Contact Zone. -The Main Zone consists of seven projects with a total current resource of 1,874,000 ounces at a grade of 4.15 g/t Au. -One of these projects, M3000, hosts a total of 730,000 ounces at 4.24 g/t Au and represents the largest potential for an open pit operation within the Main Zone. -Shares closed Monday at 41.0 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires June 22, 2010 02:28 ET (06:28 GMT)