Manas increases Shambesai Resource

THE DRILL SERGEANT: Manas Resources has upgraded the Indicated and Inferred Mineral Resource at the Shambesai gold prospect at the company’s 100 per cent-owned Isfairamsai License area in the Kyrgyz Republic.

The Shambesai Resource has been increased to 11.6 million tonnes at 2.1 grams per tonne gold for 766,000 ounces of gold at 0.5 grams per tonne gold cut-off.

“This is an increase of approximately twenty per cent on the previous Shambesai Mineral Resource estimate of 645,000 ounces, with a marked increase in tonnes and ounces,” Manas said in its ASX announcement.

“Most importantly, all of the 120,000 ounce increase has been attributed to the high‐value oxide resource, or an increase of forty per cent including reclassified material.

“Sixty per cent of the Resource ounces are now classified as oxides, with 54 per cent of total Resources in the Indicated category, and the mineralisation remains open to the west and at depth.

“The global Mineral Resource reportable under the JORC code for the South Kyrgyz gold project now stands at 1.25 million ounces of gold.”

The latest upgraded Shambesai gold Mineral Resource is the result of an infill and extensional drilling program where 12,535m of diamond drill core was completed in August 2011, combined with the results of an infill program completed by Manas in 2010.

The company’s main focus for the Shambesai drilling has been on areas it considers critical to expanding the shallow oxide resource, expanding the western pit boundary and increasing the economics of the pit optimisation for the Feasibility Study.

“These drill programs deliberately targeted lower grade oxide material with the view of adding additional ounces of gold as the low‐cost processing methodology for Shambesai provides for extra ounces immediately translating into additional cash flow,” the company said.

Manas puts total discovery costs for the Shambesai Mineral Resource at approximately US$9 per ounce.

The company is set to commence a program of infill grade‐control drilling at the high‐grade far‐eastern area targeting an upgrade to this portion of the oxide Mineral Resource.

Drilling is also being planned to infill areas along the shear zone to follow up on results of 33.7m at 10.7g/t gold and 21m at 9.71g/t gold, and at depth on the western extensions to follow up the most recent result of 54m at 2.9g/t gold from within an 87m long mineralised zone at depth.
 
Drilling is ongoing at other prospects including Obdilla, Ulugtau and Tashbulak.