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Kyrgyzstan Uranium Project
Kamushanovskoe project >
Boom Canyon >
Jetym >
Shyrgyi >
Kyrgyzstan is widely considered to have the most progressive of the free market post-Russian economies, and was the first of those to join the World Trade Organisation.
Kyrgyzstan has a foreign friendly mining legislation, significant international mining and exploration activity (including Centerra’s Kumtor, the worlds eighth largest gold deposit and contributor of over 10% of Kyrgyzstan’s GDP) and excellent transport and power infrastructure.
Contact Uranium acquired a 100% interest in four highly prospective Kyrgyzstan-based uranium licenses: Kamushanovskoe, Shyrgyi, Boom Canyon and Jetym which have a combined area of 2457km2 and JORC Inferred plus Indicated resources of 1.71Mlbs uranium.
All have excellent exploration potential and significant Soviet exploration data, to which Contact has access. Contact Uranium has retained a highly experienced local company along with western consultants to assist with the exploration and development of its Kyrgyz licenses.
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Kyrgyzstan - project overview |
Kamushanovskoe project
Contact has an initial global JORC resource of 1.71 million pounds of uranium at its Kamushanovskoe project in Northern Kyrgyzstan.
The global resource comprises 940,000 lbs of Inferred uranium and 771,000lbs of Indicated uranium from 2.079 million tonnes of ore material with an average grade of 0.037% uranium. The resource is the first reported JORC (or similar western standard) resource reported in Kyrgyzstan and has considerable expansion potential through adjacent peats of similar style in the Kamushanovskoe region.
The uranium is hosted by surficial peats, is easy to extract, lies on the doorstep to power, water and labour infrastructure, and is in close proximity to the Kara Balta uranium processing facility. The resource was produced by Contact's operating partner working in conjunction with the company and with independent technical consultants Snowden.
Boom Canyon
Contact’s Boom Canyon uranium licence contains road, road, water, power and labour infrastructure and has a very good potential for the discovery of several types of uranium deposits. The presence of uranium mineralization has been confirmed at seven localities. Soviet exploration included voluminous mapping, drilling, trenching, aditing, geochemical sampling and radiometric surveying.
The most interesting anomaly on the licence area is the extensive area of anomalous uranium in groundwater. This is within 5 km of the Kok-Moynok uranium deposit (Uranium One) and is situated in a similar structural setting.
Jetym
This uranium licence lies along strike from the Kumtor gold mine and the Sarydjaz Uranium-molybdenum-vanadium deposits and is relatively under-explored but highly prospective.
The licence covers an area of 1120km2 on the northern boundary of the highly prospective middle Tien Shan zone about 50km from the Kumtor giant gold mine and the Sarydjaz uranium-vanadium molybdenum deposit.
Previous Soviet work has identified several radiometric anomalies and associated copper and uranium showings, associated with the Cambrian Shortor Formation in the eastern part of the licence. These anomalous zones extend for at least 5km along strike and appear similar in character to the uranium mineralization at Sarydjaz. Access to the licence is relatively easy since the eastern boundary lies within 10 km of the access road to Kumtor which is maintained all the year round.
Shyrgyi
Contact has yet to review the Shyrgyi licence, which is an eastward extension of the Boom Canyon license. The Company believes Shyrgyi may represent a geological extension of Urasia Energy’s adjacent Kok-moi-Nok deposit. It contains a small Russian C class mineral inventory, similar volumes of Soviet exploration data and, in the Company’s opinion, significant exploration potential similar to that of Boom Canyon.
There is immediate potential to significantly increase the target area from both the review of available Soviet data and early indications from IMC’s test drilling in lower grade peat deposits.