Chaarat Gold holdings Ltd. (UK) - Tulkubash Drilling Update by 24hgold

Mots clés associés : Kyrgyzstan |

Tulkubash Drilling Update

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Tulkubash drilling update

Road Town, Tortola, British Virgin Islands (20 September 2011)

Chaarat (AIM - CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, is pleased to announce positive results from its ongoing exploration programme in the Tulkubash Project area in north western Kyrgyzstan.

Highlights

Tulkubash mineralisation extended along strike in both directions and also at depth. The results reported here are from the Central Section only
Drilling at Tulkubash North and South Sections still in progress
76 drill holes (7,422 metres) completed since the last announcement on 26 January 2011
Mineralised zone becoming increasingly predictable and 72 of the holes intersected mineralisation at the predicted depth
Close spaced intersection of mineralisation will improve the variography and enable an upgrade of resource category from inferred to indicated
Selected results (see Appendix 1 for details of all holes) from the Central Section include:

TO751: 32.50m at 2.53 g/t Au from 16.5m

Including 8.75m at 5.71 g/t Au from 19.5m

TO772: 31.25m at 3.67 g/t Au from 46.50m

Including 8.75m at 6.14 g/t Au from 46.50m

TO775: 10.00m at 5.54 g/t Au from 34.50m
TO779: 25.00m at 3.13 g/t Au from 75m

Including 6.25m at 6.71 g/t Au from 97.50m

A map at www.chaarat.com shows the Tulkubash mineralisation.

Dekel Golan, CEO of Chaarat, comments "We are pleased to update the market on the promising results achieved from drilling the Tulkubash project. We are confident that the scenario should improve further with drilling along strike to the north and south of the project. The Tulkubash holds great promise for Chaarat and will host our first production."

General Description of the Tulkubash Zone

The Tulkubash Zone is one of three major mineralisation zones of the Chaarat Project, the others being the Main and Contact Zones. The Tulkubash Zone strikes parallel to the other two zones and extends to the north-east into the Karator and Ishakuldy areas. The mineralised zones dip at 40-50 degrees to the NW.

Mineralisation in the Tulkubash Zone is hosted in silicified quartzites and mineralised zones exhibiting pervasive silicification and some argillic alteration, together with elevated contents of sulphides at depth of up to 5%-10% of volume. The gold is associated with sulphides, sericitic alteration and minor quartz veinlets although the open-pittable resource is largely oxidised.

The Tulkubash mineralised zone, which includes relatively clean free milling mineralisation, has been delineated, discontinuously, over a strike length of 4 kilometres. During the 2011 season the objective of the exploration programme was to convert the inferred resource of the central part of Tulkubash to indicated resource, which in turn will be converted to mineable reserve. Exploration focussed on a 600 metre section at the southern end of Central Tulkubash to generate an initial open pittable resource which can quickly be developed into a mine. In addition, drilling was undertaken to establish the strike extension of the mineralised zone to the north and south which is boosting confidence in the continuity of the zone.

The Tulkubash mineralised zone can be divided into three segments namely, TCX (Tulkubash Central Section), TSX (Tulkubash South Section) and TNX (Tulkubash North Section). As work on the TCX has been completed and drilling at TSX and TNX is in progress, this release presents the results of the TCX drill holes only.

Based on drilling completed in 2010, a JORC compliant (indicated and inferred) resource containing 321,000 oz at a grade of 4.00 g/t Au was delineated in the T0700 Project Areas within the Tulkubash zone up to 330m metres down dip from the surface outcrop. Mineralisation remains open both down dip and along strike in both directions.

We expect to be able to release further drilling results and an upgraded resource estimate in early 2012.

Dekel Golan
Chief Executive Officer

For further information about the Company please contact:
Chaarat Gold Holdings Limited c/o Central Asia Services Limited Dekel Golan CEO Linda Naylor FD	+44 (0) 20 7499 2612 dekel@chaarat.com linda.naylor@chaarat.com
Westhouse Securities Limited	+44 (0) 20 7601 6100
Tim Feather Richard Baty	tim.feather@westhousesecurities.com richard.baty@westhousesecurities.com
Bankside Consultants	+44 (0) 20 7367 8888
Simon Rothschild	simon.rothschild@bankside.com

Note to Editors:

About Chaarat Gold

Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic. The Company's main activity is the development of the Kiziltash and Tulkubash projects situated within the Middle Tien Shan Mountains of Kyrgyzstan, which form part of the Tien Shan gold belt. The Company has delineated a JORC compliant mineral resource of 4.736Moz at a grade of 4.28g/t gold across both projects. Chaarat's key objective is to become a low cost gold producer; with initial production from the Tulkubash project, targeting increased production of over 200,000 ounces per annum as the Kiziltash project comes on stream.

Further information is available at www.chaarat.com

Competent Person
The Competent Person with overall responsibility for this press release, and who has reviewed the information contained herein, is Sunit Patel M.Sc (Geology), FGS, GSSA, who is an employee of Chaarat Gold. Mr. Patel is an exploration geologist with 22 years of experience in the resource industry who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and he was supervisor to the work subject of this release. Mr Patel consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Disclaimer
This press release includes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Chaarat's control that would cause the actual results, performance or achievements of Chaarat to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Chaarat's present and future business strategies and the environment in which Chaarat will operate in the future. Any forward-looking statements speak only as at the date of this document. Chaarat expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this document to reflect any change in Chaarat's expectations with regard to these or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, the events described in the forward-looking statements in this press release may not occur either partially or at all.

Appendix 1
Drilling results

Hole ID	Section	Drilled From (metres)	Drilled To (metres)	Length (metres)	True width (metres)	Au (g/t)
T0701	880	105.00	108.00	3.00	2.50	1.02
T0701	880	151.50	153.00	1.50	1.25	2.15
T0702	840	105.00	117.00	12.00	10.00	1.25
T0703	960	151.50	165.00	13.50	11.25	2.10
including	960	153.00	156.00	3.00	2.50	3.82
T0704	880	54.00	57.00	3.00	2.50	2.34
T0704	880	87.00	90.00	3.00	2.50	1.07
T0705	920	27.00	30.00	3.00	2.50	3.44
T0705	920	48.00	49.50	1.50	1.25	2.07
T0705	920	91.50	94.50	3.00	2.50	2.07
T0705	920	103.50	109.50	6.00	5.00	2.16
T0706	720	150.00	157.50	7.50	6.25	1.67
including	720	151.50	154.50	3.00	2.50	2.72
T0706	720	103.50	106.50	3.00	2.50	2.65
T0707	720	46.50	52.50	6.00	5.00	1.66
T0707	720	124.50	126.00	1.50	1.25	1.03
T0708	640	34.50	45.00	10.50	8.75	1.33
T0708	640	48.00	55.50	7.50	6.25	1.75
T0708	640	98.00	99.50	1.50	1.25	1.09
T0709	760	36.00	37.50	1.50	1.25	1.54
T0709	760	64.50	66.00	1.50	1.25	1.14
T0711	800	24.00	25.50	1.50	1.25	1.66
T0711	800	70.50	73.50	3.00	2.50	3.17
T0711	800	87.00	90.00	3.00	2.50	1.24
T0712	640	79.50	82.50	3.00	2.50	1.36
T0712	640	84.00	91.50	7.50	6.25	2.12
T0712	640	103.50	109.50	6.00	5.00	1.95
including	640	103.50	106.50	3.00	2.50	2.74
T0713	800	No intersection
T0714	800	31.00	32.50	1.50	1.25	1.10
T0714	800	34.00	37.00	3.00	2.50	1.66
T0714	800	46.00	50.50	4.50	3.75	1.48
T0714	800	63.00	66.00	3.00	2.50	4.71
T0714	800	74.50	77.50	3.00	2.50	1.41
T0714	800	82.00	83.50	1.50	1.25	9.28
T0715	840	63.00	66.00	3.00	2.50	5.72
T0715	840	81.00	85.50	4.50	3.75	2.29
T0717	880	49.00	52.00	3.00	2.50	2.94
T0717	880	175.00	176.50	1.50	1.25	1.50
T0717	880	179.50	188.50	9.00	7.50	1.10
T0718	800	No intersection
T0719	720	61.50	64.50	3.00	2.50	1.50
T0719	720	81.00	100.50	19.50	16.25	2.09
including	720	84.00	88.50	4.50	3.75	4.36
T0720	800	24.00	35.30	11.30	9.42	1.91
including	800	27.00	30.00	3.00	2.50	4.48
including	800	34.00	35.50	1.50	1.25	5.07
T0720	800	47.00	48.50	1.50	1.25	2.50
T0720	800	54.50	60.50	6.00	5.00	1.32
T0720	800	72.50	74.00	1.50	1.25	1.11
T0721	840	48.00	51.00	3.00	2.50	1.11
T0721	840	82.50	91.50	9.00	7.50	1.01
T0722	840	19.50	21.00	1.50	1.25	1.09
T0723	760	24.00	27.00	3.00	2.50	1.60
T0723	760	30.00	33.00	3.00	2.50	3.67
T0723	760	61.50	64.50	3.00	2.50	1.19
T0723	760	72.00	75.00	3.00	2.50	1.70
T0723	760	76.50	81.00	4.50	3.75	2.20
T0724	880	83.50	100.00	16.50	13.75	1.57
T0724	880	103.00	106.00	3.00	2.50	1.09
T0725	960	0.00	1.50	1.50	1.25	1.34
T0725	960	36.00	37.50	1.50	1.25	1.72
T0725	960	45.00	46.50	1.50	1.25	1.23
T0725	960	55.50	64.50	9.00	7.50	1.31
T0726	680	31.50	33.00	1.50	1.25	1.01
T0726	680	45.00	46.50	1.50	1.25	1.04
T0726	680	54.00	55.50	1.50	1.25	1.04
T0726	680	63.00	73.50	10.50	8.75	1.55
including	680	72.00	73.50	1.50	1.25	4.06
T0726	680	76.50	79.50	3.00	2.50	2.22
T0726	680	123.00	126.00	3.00	2.50	1.00
T0726	680	136.50	138.00	1.50	1.25	1.01
T0726	680	141.00	144.00	3.00	2.50	1.00
T0727	960	58.50	60.00	1.50	1.25	1.26
T0727	960	66.00	72.00	6.00	5.00	1.20
T0728	920	15.00	16.50	1.50	1.25	1.37
T0728	920	31.50	34.50	3.00	2.50	1.37
T0728	920	43.50	45.00	1.50	1.25	1.16
T0728	920	88.50	93.00	4.50	3.75	1.01
T0728	920	91.50	93.00	1.50	1.25	1.29
T0729	760	21.00	22.50	1.50	1.25	2.17
T0729	760	37.50	40.50	3.00	2.50	1.01
T0730	960	40.50	42.00	1.50	1.25	3.70
T0730	960	48.00	62.50	14.50	12.08	1.27
T0730	960	73.00	76.00	3.00	2.50	1.40
T0730	960	83.50	86.50	3.00	2.50	1.55
T0731	920	9.00	12.00	3.00	2.50	1.14
T0731	920	69.00	70.50	1.50	1.25	1.79
T0731	920	84.00	96.00	12.00	10.00	1.96
T0731	920	103.50	112.40	8.90	7.42	1.07
T0732	680	13.50	15.00	1.50	1.25	1.39
T0732	680	21.00	31.50	10.50	8.75	1.48
including	680	22.50	27.00	4.50	3.75	2.32
T0732	680	43.50	73.50	30.00	25.00	2.58
including	680	49.50	54.00	4.50	3.75	4.32
including	680	64.50	72.00	7.50	6.25	4.50
T0736	720	4.50	9.00	4.50	3.75	1.09
T0736	720	19.50	24.00	4.50	3.75	2.33
T0733	600	28.50	60.00	31.50	26.25	2.15
including	600	28.50	34.50	6.00	5.00	4.35
including	600	28.50	42.00	13.50	11.25	3.51
T0733	600	76.50	79.50	3.00	2.50	1.39
T0734	840	37.50	40.50	3.00	2.50	1.70
T0734	840	73.50	84.00	10.50	8.75	1.18
T0734	840	88.50	94.50	6.00	5.00	2.52
T0737	960	66.00	85.50	19.50	16.25	3.28
T0737	960	88.50	90.00	1.50	1.25	2.42
T0737	960	126.00	127.50	1.50	1.25	1.07
T0738	600	6.00	9.00	3.00	2.50	1.26
T0738	600	19.50	21.00	1.50	1.25	2.93
T0738	600	87.00	88.50	1.50	1.25	2.91
T0739	640	18.00	21.00	3.00	2.50	1.65
T0739	640	36.00	61.40	25.40	21.17	3.20
including	640	46.50	61.40	14.90	12.42	4.16
T0740	760	No intersection.
T0741	920	106.5	121.5	15.00	12.50	1.91
including	920	108	112.5	4.50	3.75	3.70
T0742	880	45.00	48.00	3.00	2.50	3.31
T0742	880	61.50	67.50	6.00	5.00	1.00
T0742	880	70.50	81.00	10.50	8.75	1.63
T0743	600	1.50	4.50	3.00	2.50	1.15
T0743	600	7.50	10.50	3.00	2.50	1.00
T0743	600	13.50	18.00	4.50	3.75	2.02
T0743	600	24.00	25.50	1.50	1.25	2.17
T0743	600	138.00	139.50	1.50	1.25	1.11
T0743	600	154.50	159.00	4.50	3.75	1.00
T0743	600	165.00	180.00	15.00	12.50	1.00
T0743	600	184.50	187.50	3.00	2.50	1.84
T0743	600	199.50	202.50	3.00	2.50	1.00
T0743	600	205.50	211.00	5.50	4.58	1.02
T0744	880	18.00	22.50	4.50	3.75	1.42
T0744	880	47.00	48.50	1.50	1.25	2.28
T0745	840	22.50	24.00	1.50	1.25	1.46
T0745	840	60.00	61.50	1.50	1.25	1.24
T0745	840	78.00	79.50	1.50	1.25	1.00
T0749	920	4.50	7.50	3.00	2.50	1.27
T0749	920	16.50	18.00	1.50	1.25	1.78
T0749	920	22.50	24.00	1.50	1.25	1.16
T0749	920	27.00	30.00	3.00	2.50	1.11
T0749	920	31.50	39.00	7.50	6.25	1.05
T0750	920	25.50	28.50	3.00	2.50	1.66
T0751	640	16.50	55.50	39.00	32.50	2.53
including	640	19.50	30.00	10.50	8.75	5.71
T0751	640	60.00	61.50	1.50	1.25	3.01
T0751	640	85.50	88.50	3.00	2.50	1.19
T0751	640	93.00	94.50	1.50	1.25	1.18
T0752	640	3.00	6.00	3.00	2.50	1.07
T0752	640	43.50	45.00	1.50	1.25	1.43
T0754	960	55.50	57.00	1.50	1.25	1.30
T0754	960	63.00	84.00	21.00	17.50	1.38
T0754	960	102.00	105.00	3.00	2.50	1.00
T0754	960	109.00	112.00	3.00	2.50	1.24
T0754	960	139.50	142.50	3.00	2.50	1.39
T0754	960	151.50	156.00	4.50	3.75	1.00
T0755	960	39.00	61.50	22.50	18.75	2.53
T0755	960	151.50	156.00	4.50	3.75	1.00
T0757	840	36.00	39.00	3.00	2.50	1.24
T0757	840	54.00	55.50	1.50	1.25	1.39
T0757	840	81.00	88.50	7.50	6.25	1.00
T0758	600	1.50	27.00	25.50	21.25	2.03
including	600	3.00	9.00	6.00	5.00	2.47
including	600	15.00	24.00	9.00	7.50	3.02
T0758	600	49.50	55.50	6.00	5.00	3.35
T0758	600	61.50	63.00	1.50	1.25	1.00
T0758	600	87.00	88.50	1.50	1.25	1.13
T0758	600	96.00	120.00	24.00	20.00	1.54
including	600	97.50	106.50	9.00	7.50	2.36
T0758	600	126.00	129.00	3.00	2.50	1.02
T0758	600	141.00	148.50	7.50	6.25	2.91
T0761	920	108.00	112.50	4.50	3.75	1.65
T0761	920	139.50	142.50	3.00	2.50	1.45
T0762	640	4.50	6.00	1.50	1.25	1.18
T0762	640	43.50	45.00	1.50	1.25	6.38
T0762	640	72.00	96.00	24.00	20.00	2.12
including	640	81.00	88.50	7.50	6.25	3.06
T0762	640	102.00	106.00	4.00	3.33	3.69
T0763	900	0.00	4.50	4.50	3.75	1.28
T0763	900	36.00	37.50	1.50	1.25	1.82
T0763	900	45.00	46.50	1.50	1.25	2.42
T0763	900	52.50	54.00	1.50	1.25	1.26
T0763	900	118.50	120.00	1.50	1.25	1.74
T0764	600	22.50	25.50	3.00	2.50	1.40
T0765	720	84.00	102.00	18.00	15.00	2.28
T0765	720	108.00	112.50	4.50	3.75	2.88
T0766	620	36.00	39.00	3.00	2.50	1.34
T0766	620	64.50	106.50	42.00	35.00	2.21
including	620	73.50	84.00	10.50	8.75	3.77
T0767	840	28.50	33.00	4.50	3.75	1.03
T0767	840	46.50	48.00	1.50	1.25	1.87
T0767	840	64.50	67.50	3.00	2.50	1.46
T0767	840	73.50	78.00	4.50	3.75	1.00
T0767	840	84.00	90.00	6.00	5.00	1.38
T0768	900	36.00	37.50	1.50	1.25	2.57
T0768	900	40.50	45.00	4.50	3.75	2.94
T0768	900	55.50	57.00	1.50	1.25	2.08
T0770	720	96.00	99.00	3.00	2.50	1.61
T0771	620	No intersection
T0772	620	46.50	84.00	37.50	31.25	3.67
including	620	46.50	57.00	10.50	8.75	6.14
including	620	70.50	76.50	6.00	5.00	4.37
T0772	620	88.50	93.00	4.50	3.75	1.86
T0773	720	3.00	9.00	6.00	5.00	1.12
T0773	720	46.50	48.00	1.50	1.25	1.73
T0773	720	55.50	57.00	1.50	1.25	1.28
T0773	720	60.00	63.00	3.00	2.50	2.88
T0773	720	69.00	70.50	1.50	1.25	6.55
T0774	760	49.50	51.00	1.50	1.25	1.27
T0774	760	57.00	58.50	1.50	1.25	1.53
T0775	900	34.50	46.50	12.00	10.00	5.54
T0776	720	5.50	7.00	1.50	1.25	1.95
T0776	720	10.00	13.00	3.00	2.50	1.35
T0776	720	76.00	91.00	15.00	12.50	1.12
T0777	620	24.00	27.00	3.00	2.50	1.49
T0777	620	40.50	43.50	3.00	2.50	1.31
T0778	900	43.50	45.00	1.50	1.25	1.10
T0778	900	54.00	55.50	1.50	1.25	1.31
T0779	900	75.00	105.00	30.00	25.00	3.13
including	900	82.50	88.50	6.00	5.00	3.75
including	900	97.50	105.00	7.50	6.25	6.71
T0780	620	31.50	54.00	22.50	18.75	4.04
T0780	620	75.00	79.50	4.50	3.75	1.23
T0782	620	24.00	25.50	1.50	1.25	1.11
T0782	620	30.00	31.50	1.50	1.25	1.03
T0783	760	0.00	15.00	15.00	12.50	1.11
T0784	900	95.50	119.50	24.00	20.00	1.24
T0785	900	49.00	50.50	1.50	1.25	2.12
T0785	900	61.00	65.50	4.50	3.75	1.47
T0785	900	92.50	107.50	15.00	12.50	2.21
T0786	760	15.00	21.00	6.00	5.00	1.22
T0786	760	24.00	25.50	1.50	1.25	1.15
T0786	760	49.50	51.00	1.50	1.25	1.52
T0786	760	70.50	87.00	16.50	13.75	1.02
T0788	900	21.00	22.50	1.50	1.25	2.28
T0791	900	25.50	30.00	4.50	3.75	1.06

Légende
	Production
	Mine développement
	Découverte
	Exploration
	Ancien producteur
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