Staroverinskaya gold bearing area

Licenses
The license for exploration and mining of hard rock and placer gold in Staroverinsk area in Chita Region (CHiT №12355 BR) has awarded on 19.09.2004 and is valid until 05.05.2029. The license block area is 220.4 km2.

Geography and economic situation
The license block is situated at the confluence of the small Srednyaya and Nizhnyaya Borzia in the Transbaikal Territory, 35 km from the regional center Kalga and 640 km from Chita. The nearest railway station is Dosatuy, 100km from the block. Roads are mainly unpaved; the distance to paved highways is 200 km. The deposit area is crossed by a 110 KV power line. Absolute elevations of watershed division lines are no more than 1000 m; relative elevations are 300 m maximum.
The climate is severe continental.
The area is partly forested.
Some residents are employed in prospecting teams that work placer gold. Hiring is limited.

Geology
The area is mainly made up of Vendian series (meta-sandstones, meta-siltstone, shales, sericite-quartz, dolomite, and Cambrian (siltstone, dolomites, limestones), Jurassic (sandstones, siltstones, conglomerates) and Cretaceous (terrigene-sedimentary rocks) limestones.
Intrusive rocks are represented by granite-granodioritic Undinian monzonite-granite Kadaimskian, granite-leikogranite Lubininskian, monzonit-granodirite-granite Shakhmatinskian and granite-porphyry-lamprophyric Nerchinskzavodskian series.
Tectonically, the area is confined to the Argunsky micro-continent in the Mongol-Okhotsk fold belt. Five structural levels in the visible section of the earth’s crust are distinguished.
Faults of various orders have a strong influence on the tectonic structure of the area; the largest are the Kumatorsko-Kozlovskaya, Smirnonvskaya and Nizhne-Borzinskaya. These first order faults are associated with smaller ones of orders 2 and 3, which play an important role in localization of complex ore mineralization.

Geological coverage, reserves
Within the license block, there are two deposits of hard rock gold, Bogomolovskoye and Kozlovskoye, being mined by Rudtekhnologia LLC.
Exploratory and appraisal work has revealed about 20 gold-multi-metal showings.

Prospectivity of the Staroverinsk gold bearing area
The potential of the ore field have been determined by the following gold showings: Centralnoye, Degtianka, Talovskoye I and II, Perevalnoye, Shirokoye, Solkokon I and II, Sherkuncha, Kulinda, Bilbichanskoye and others. (Solkokonsky Ore Node), Ivanovskoye, Novo Yavlenskoye, Karazirginskoye, Iraktinskoye, Zagibalovskoye, Sredneborzinskoye (Yavlensky ore node). The majority of ore showings have been recognized as significant.

The active phase of geological exploration at Staroverinsk area will begin in 2012.