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- Option Agreements Terminated May. 23, 2013 Read More
- Government Approval Received for the Acquisition of the West Khazret Gold Project Feb. 12, 2013 Read More
- NI 43-101 Report For The West Khazret Gold Project Filed Oct. 23, 2012 Read More
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West Khazret Exploration Contract Extended
May 15, 2012 | PDF
Vancouver, BC, May 15, 2012 - Slater Mining Corporation (TSX-V: SLM) is pleased to announce that the Ministry of Industry and New Technology of the Republic of Kazakhstan has extended the Exploration Contract for the West Khazret Gold Project to May 5, 2014. Following the exploration period, Slater Mining has the exclusive right for up to a further three year period to complete a feasibility study and convert the license to up to a thirty year Exploitation Contract.
About Slater Mining
Slater Mining is developing the West Khazret gold project in the Urals Tectonic Belt in northwest Kazakhstan which is prolifically rich in both base and precious metals. The project area covers 320km² and contains multiple mineralised systems. The initial target is the Sineshikhan Fault which is 3km wide, has a strike length in excess of 16 km and extends across the border to the north into Russia where gold deposits along the structure are currently being exploited. Slater Mining is focused on bringing the major oxide open pit potential to account through shallow drilling and subsequent heap leach mine development. Exploration works to date include 132 drill holes (with mineralised intercepts averaging 0.86 g/t Au) and preliminary metallurgical work indicating that the oxide mineralisation is amenable to cyanide heap leaching giving recoveries of greater than 75%. A Preliminary Economic Assessment is planned to be completed by the end of 2013. A 220kV power line and roads traverse the project area with skilled labour and water readily available.
Management has extensive experience operating in Kazakhstan. Ian Slater, Chief Executive Officer, has worked in Kazakhstan since 1995 originally as Managing Partner of Arthur Andersen's Mining Practice. Robert Bell, Vice President Projects, has worked in Kazakhstan since 1993 on numerous projects, including developing the Mizak heap leach gold mine which is currently operated by Kazakhmys. Tim Neall, Project Geologist, has worked in Kazakhstan since 1995, most recently with Kazakhmys.
The scientific and technical information contained in this news release has been reviewed by Michael Johnson P.Geo., Vice President Exploration, who is a "Qualified Person" as defined under National Instrument 43-101. For further information on Slater Mining please refer to our website www.slatermining.com, contact Ian Slater, Chief Executive Officer, or contact:
Manager Corporate Communications
+1 778 372 2556
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.