The Altyntas project is located 500km north west of Almaty in the Tien Shen gold province, and 40km from the 1.5 million tonne per annum Akbakai gold mine, owned by Kazakhstan gold producer JSC AK. Drilling and trenching since the 1960s has identified significant gold mineralisation at Altyn Tas, from surface down to at least 250m, hosted in quartz-veined Ordovician-aged sediments. A resource estimate of 10.4 million tonnes at 1.68 g/tonne gold, containing 564,000 ounces (at a cut-off grade of 0.4g/t gold) is quoted for this deposit, in two converging lenses. This resource was estimated by Micromine, using 122 drillholes and 68 trenches. Some higher grade mineralisation is present, associated with sericite alteration and quartz veining, and may be possible to mine selectively for toll treatment at the nearby Altyn Almas gold plant.
During 2012, Manas Resources Ltd commenced a Farm-in Joint Venture on the Altyn Tas project, and drilled a 4,000m RC programme of infill holes. Manas and CVR agreed to dissolve the JV due to a disagreement on commercial terms and the project remains held 90% by CVR.
Central Asia intends to follow up on the drilling work completed by Manas and investigate the economics of developing this deposit.
Central Asia has a memorandum of understanding (MOU) in place to treat ore at Akbakai’s modern plant, located approximately 25kms from the Altyntas deposit. The MOU envisages a toll treatment agreement for the processing of ore from Altyntas, Kengir and Kepken deposits in Kazakhstan at Altynalmas' nearby Akbakai plant.