Russia sells giant gold deposit to Polyus-led joint venture

Section:

By Polina Devitt
Reuters
Thursday, January 26, 2017

MOSCOW -- A joint venture between Russia's top gold producer Polyus and state conglomerate Rostec has bought the rights to develop Sukhoi Log, one of the world's largest untapped gold deposits, for 9.4 billion rubles ($158 million).

Russia competes with Australia for second place among the world's largest gold producers and has one of the world's largest gold reserves. The ore of Sukhoi Log, which translates as "dry gully" in English, contains about one fifth of Russia's gold reserves.

After 20 years of assurances that it would sell the deposit to investors, the Russian government sold it today at a relatively cheap price as officials hope production will result in new tax revenues and jobs.

Sukhoi Log will require up to $5 billion in investments, according to industry estimates based on a 10-year-old state feasibility study. ...

... For the remainder of the report:

http://www.reuters.com/article/russia-sukhoilog-idUSL5N1FG23A



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At 3 Aces Project, Golden Predator Finds 7.5 Meters of 33 Grams-Per-Tonne Gold


Company Announcement
Thursday, January 19, 2017

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon Territory.

Drilling has demonstrated an extension of high-grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones.

Significant results reported at true width include:

-- Hole 3A16-RC-032 intersected 7.54 meters of 32.86 grams per tonne gold from a depth of 16.76 meters, including 0.54 meters of 252 grams per tonne gold; and a new blind vein at a depth of 71.63 meters returned 3.23 meters of 10.04 grams per tonne gold. (The hole ended in mineralization. ...

For the remainder of the announcement:

http://www.goldenpredator.com/_resources/news/nr_2017_01_19.pdf



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