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Trans-Siberian Gold discovery expands Asacha mine footprint

Russian gold miner Trans-Siberian Gold has discovered new high grade mineralisation in the east zone of its Asacha gold mine.
Trans-Siberian Gold discovery expands Asacha mine footprint Trans-Siberian Gold discovery expands Asacha mine footprint Trans-Siberian Gold discovery expands Asacha mine footprint Trans-Siberian Gold discovery expands Asacha mine footprint Trans-Siberian Gold discovery expands Asacha mine footprint

TSG has discovered further narrow pockets of high-grade gold at Asacha

Staff Reporter

Highlights from drilling at the new zone, which lies 400 metres north of the existing Vein 25, include 133g/t gold and 57g/t silver over 4m, 22g/t gold and 69g/t silver over 1m and 59g/t gold and 99g/t silver over 1.8m.

The 400m between the existing Vein 25 and the newly-discovered Vein 25 North is still undrilled, except for one hole that returned 22g/t gold and 56g/t silver over 0.8m.

The company plans to spend $7.9 million on development and exploration, including 25,000m of drilling over the Asacha licence area.

"Narrow high grade intersections see a potential to extend known mineralised zones laterally as well as along strike at the Asacha mine as the company ramping up exploration activity in 2020 with a series of prospective targets in the area," said SP Angel analyst John Meyer.

London-listed Trans-Siberian Gold (LSE: TSG) shares were trading at 59p on Wednesday. The company's share price peaked at 129p in September, but has since fallen back. Its shares were trading at 37.5p a year ago. The company's market capitalisation is £51.42 million.