Nord Gold took new gold area

Nord Gold announced that its Berezitovy mine has won an auction for an exploration and mining licence in the Hayktinskaya gold area in the Amur region in Russia.

The Hayktinskaya area is adjacent to Nordgold’s existing licence areas of the Berezitovy mine and covers an area of 365 km^2. The total resource potential of the area is estimated at 46.8 tonnes of gold in P3 Russian classification resources and 393 tonnes of silver.

Berezitovy will pay 4 million roubles (approximately $60,000) for the licence, which is valid for 20 years.

«The award of the mining licence marks another positive step in Nord Gold’s development strategy in Russia, within which we continue to look for geologically promising exploration areas located next to our mines. The Hayktinskaya tenement has a potential to increase the reserves and life of mine of our flagship mine in Russia – Berezitovy,» - Nikolai Zelenski, Chief Executive Officer of Nord Gold, commented.