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GLOBAL GOLD CORPORATION SPECIFY RESERVES OF MARJAN GOLD-POLYMETALLIC DEPOSIT TILL END, 2007 AND PREPARE FEASIBILITY STUDY ON ITS OPERATION
arminfo
2007-07-10 14:27:00
The Global Gold Corporation (GGC) American Company will complete the
works on specification of reserves of the Marjan gold-polymetallic
deposit in Sisian district of RA Syunik region till the end, 2007,
and prepare a feasibility study to submit to RA government.
Being a foreign Company, GGC schedules to fulfill a greater volume than
it is approved by RA Ministry of Nature Conservation for the process
of assessment of resources to meet not only the local but the western
standards as well. The cost of each project is under assessment,
however, the Company has already invested $2,2 mln in Marjan since
2006 until now, the chief geologist of the Armenian representation
of GGC Henry Lazarian told ArmInfo during his Saturday's visit
to the deposit. He said that the Marjan deposit is considered a
"difficult" one, as it is situated in a distant region near the
Armenian-Azerbaijani border. The works at the deposit are hindered
and are of a seasonal nature because of the fact that it is located
at the height of about 3000 m above sea.-level.
Presently, GGC is completing the detailed exploration in order
to determine the industrial significance of the gold-polymetallic
mineralization and present an economic assessment. Over the period
of its work at the deposit, GGC had created a digital database per
Marjan. Started 2005, GGC has been carrying out a geo-physical, geo-
chemical and hydro-geological detailed exploration at the deposit, for
which the Company paved a 50-km way. A programme for well-boring (4200
m) is carried out at present, upon completion of which possibility
of extension of the volume of these works will be considered.
The main goal of the Company is to reassess the resource potential of
the deposit by determination of the quality and quantity of reserves
and economic essence of the future developments. The preliminary data
indicate that the deposit may be of industrial importance.
Undoubtedly, a relevant social, economic and engineering infrastructure
will be created with the industrial assimilation of the Marjan deposit,
that will assure employment of the local population, a social progress
and welfare, H. Lazarian said. He added that despite other deposits,
there are no environmental problems. Nevertheless, the Company pays
much attention to them. Taking into account the fact that the deposit
borders upon Azerbaijan, GGC has been always concerned over security
issues. The Company is grateful to its Office in the USA, as well as
the employees of RA Defense Ministry who assist greatly in the safety
of works.
About 140 people and 80% of village residents of elderly and disabled
age are just living the rest of their days in Arevis village. There
is no social infrastructure: schools, polyclinics, post-offices,
etc. in the village, which consists of 24 houses. However, the
Company has already been considering the opportunities of assisting
the local authorities in solution of these problems. It is envisaged
that the number of employees will increase with industrial operation
of the mine.
arminfo
2007-07-10 14:27:00
The Global Gold Corporation (GGC) American Company will complete the
works on specification of reserves of the Marjan gold-polymetallic
deposit in Sisian district of RA Syunik region till the end, 2007,
and prepare a feasibility study to submit to RA government.
Being a foreign Company, GGC schedules to fulfill a greater volume than
it is approved by RA Ministry of Nature Conservation for the process
of assessment of resources to meet not only the local but the western
standards as well. The cost of each project is under assessment,
however, the Company has already invested $2,2 mln in Marjan since
2006 until now, the chief geologist of the Armenian representation
of GGC Henry Lazarian told ArmInfo during his Saturday's visit
to the deposit. He said that the Marjan deposit is considered a
"difficult" one, as it is situated in a distant region near the
Armenian-Azerbaijani border. The works at the deposit are hindered
and are of a seasonal nature because of the fact that it is located
at the height of about 3000 m above sea.-level.
Presently, GGC is completing the detailed exploration in order
to determine the industrial significance of the gold-polymetallic
mineralization and present an economic assessment. Over the period
of its work at the deposit, GGC had created a digital database per
Marjan. Started 2005, GGC has been carrying out a geo-physical, geo-
chemical and hydro-geological detailed exploration at the deposit, for
which the Company paved a 50-km way. A programme for well-boring (4200
m) is carried out at present, upon completion of which possibility
of extension of the volume of these works will be considered.
The main goal of the Company is to reassess the resource potential of
the deposit by determination of the quality and quantity of reserves
and economic essence of the future developments. The preliminary data
indicate that the deposit may be of industrial importance.
Undoubtedly, a relevant social, economic and engineering infrastructure
will be created with the industrial assimilation of the Marjan deposit,
that will assure employment of the local population, a social progress
and welfare, H. Lazarian said. He added that despite other deposits,
there are no environmental problems. Nevertheless, the Company pays
much attention to them. Taking into account the fact that the deposit
borders upon Azerbaijan, GGC has been always concerned over security
issues. The Company is grateful to its Office in the USA, as well as
the employees of RA Defense Ministry who assist greatly in the safety
of works.
About 140 people and 80% of village residents of elderly and disabled
age are just living the rest of their days in Arevis village. There
is no social infrastructure: schools, polyclinics, post-offices,
etc. in the village, which consists of 24 houses. However, the
Company has already been considering the opportunities of assisting
the local authorities in solution of these problems. It is envisaged
that the number of employees will increase with industrial operation
of the mine.