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Kenadyr claims new discovery in Kyrgyz

Canadian junior Kenadyr Mining Holdings Corp (CN:KEN) has claimed a new discovery after wrapping up its 2017 drill programme at its Borubai gold project in the Kyrgyz Republic.
Kenadyr claims new discovery in Kyrgyz Kenadyr claims new discovery in Kyrgyz Kenadyr claims new discovery in Kyrgyz Kenadyr claims new discovery in Kyrgyz Kenadyr claims new discovery in Kyrgyz

Kenadyr is planning step-out drilling in 2018

Staff reporter

The company's project encircles Zijin Mining Group's majority-owned Taldy Bulak Levoberejnyi (TBL) gold mine, and a highlight from drilling at the start of Kenadyr's programme had included 50m at 8.15g/t gold from 151m.

Kenadyr CEO Dr Alexander Becker said the 2017 drilling had demonstrated the TBL orebody continued in two directions along strike onto the Borubai licence, plus identified a new zone of mineralisation.

"This new section (EZ-2), in combination with section EZ-1, clearly demonstrates that the mineralisation found at the East Zone is an en echelon body of mineralisation separate from the TBL deposit and that this recently-drilled zone can be considered a new discovery," he said.

The Borubai project has been subject to extensive historic exploration and the company said the 2017 results would provide guidance for step-out drilling to the east this year.

Kenadyr is adding to its Kyrgyz holdings, entering an option agreement in November to acquire nine exploration licences spanning 1,200km2 from Realgold Resources Corp. Kenadyr's CFO Kevin Ma is also Realgold's CFO.

Kenadyr had C$5.37 million (US$4.29 million) in working capital at the end of September.

Shares in the company last traded up 9.68% at C$0.17.

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