The signed agreement envisages the joint geological survey and exploration of Khokhoi ore field located in Aldan ulus (district) of the Republic of Sakha (Yakutia) in the region of Seligdar operations in the purposes of discovery of the areas containing the lode gold deposits. The agreement outlines the key terms and conditions of the cooperation, functions of the parties and principles for management of the joint venture.

The new joint project is the next step in implementation of the Agreement on strategic partnership between the two companies signed in July 2020. Earlier, in March 2021, the parties announced an agreement for implementation of a junior project on geological survey and exploration of mineral resources at Chulkovskaya area in Aldan ulus of the Republic of Sakha (Yakutia), which laid the foundations for the operation of LLC Chulkovskoye, the first joint venture of the partners.

In the framework of the strategic cooperation, in addition to joint junior projects, RosGeo and Seligdar perform a number of projects aimed at improving the efficiency of the geological exploration at licensed areas of Seligdar, inter alia, RosGeo will conduct the geological exploration at Kiriyestekh deposit field in Aldan ulus of Yakutia and evaluation operations of the underground deposits of Semenovskoye area in Krasnoshchyokovo district of the Altai Territory.

REFERENCE

RosGeo is a Russian multi-disciplinary geological holding that carries out a full range of services related to geological exploration: from regional surveys to parametric drilling and monitoring of subsoil conditions. The holding company boasts a unique expertise, particularly in marine geology and shelf operations. A total of more than 1,000 fields and deposits have been discovered by the holding’s companies, including major hydrocarbon and solid mineral deposits and fields. RosGeo is a fully state-owned company.

Seligdar is a polymetallic holding included in the top ten of the largest gold producers in Russia, and it is the only tin ore producer in the country. The Holding performs the gold mining in the Republic of Sakha (Yakutia), Altai and Buryatia, and tin mining in Khabarovsk Territory. In 2020, the companies incorporated within Seligdar produced 7 tonnes of gold and 2,5 thousand tons of tin in concentrate. The company sustainable development strategy for th period to 2024 envisages the growth of production to 10 tons of gold and 6 thousand tonnes of tin per year.