Kopy Goldfields AB (publ) ("Kopy Goldfields" or the "Company") informs that the drilling under Stage 2 in the current exploration program on the Krasny-license has been completed.
Drilling on Stage 2 of the current exploration program on the Krasny project was commenced on June 10, 2015 and was finalized ahead of schedule on September 18, 2015. In total, 49 drill holes were completed, totaling 7,551 meters of core drilling, which also includes 7 drill holes for engineering and water flow testing, 860 meters in total.
This means that all main field activities are finalized and remaining work under Stage 2 is to finalize drill core logging and assay tests. We also wait for the final results from the metallurgical bulk sample processing tests for gold recovery that were sent to an engineering company and are expected to be finalized by the end of September 2015.
We proceed with drafting of the Russian reserve report. The Russian reserve report is expected to be finalized by the end of 2015 and in January 2016, the Krasny reserve report will be filed for review by the Russian authorities.
We plan to issue a new operational update in October 2015 which will provide more details about the result from the latest drilling.We are also considering of starting Feasibility Studies for the Krasny project already in Q4 2015.
Stockholm, September 21, 2015
For more information, please contact:
Mikhail Damrin, CEO, +7 916 808 12 17, mikhail.damrin@kopygoldfields.com
Tim Carlsson, CFO, + 46 702 31 87 01, tim.carlsson@kopygoldfields.com
The following documents can be retrieved from beQuoted
Kopy Goldfields Pressrelease 2015-09-21 English.pdf
Kopy Goldfields Pressrelease 2015-09-21 Svenska.pdf
About Kopy Goldfields AB
Kopy Goldfields AB (publ), listed at NASDAQ First North in Stockholm is a gold exploration and production company operating in one of the most gold rich areas in the world; Lena Goldfields, Bodaibo, Russia. The company holds 11 bedrock exploration- and production licenses and one alluvial license on 1,963 sq km of which the Krasny license is held to 49% and is preliminary forecasted to be in production in 2017. The target for Kopy Goldfields is to become a near-term gold producer in cooperation with a producing partner under JV agreement.
Kopy Goldfields AB applies International Financial Reporting Standards (IFRS), as approved by the European Union. Aqurat Fondkommission acts as Certified Adviser, contact number: +46-8-684 05 800.
The Share
Ticker: KOPY
http://www.nasdaqomxnordic.com/shares/microsite?Instrument=SSE77457
Outstanding shares: 54,444,996
