The Ore Reserve Base for the Chovdar Gold Project Has Been Increased

In 2023, activity was successfully continued in the field of increasing the reserves of the Chovdar gold deposit operated by AzerGold Closed Joint-Stock Company (CJSC) and extending the property life.

It should be noted that the Joint-Stock Company started mining in the deposit in 2017. In 2016, the deposit’s salable gold reserve was estimated at 179 thousand Oz, but as a result of the optimization and additional exploration performed in parallel with the exploitation, it was increased to 535 thousand Oz. The total salable gold reserve was also increased by another 243 thousand Oz to 778 thousand Oz at the expense of the Aghyokhush gold deposit group and the Marah gold deposit discovered by the JSC geologists, as well as the Tulallar gold deposit, discovered during the USSR and extensively studied by the JSC geologists in these days. Thereat, from 2016 to 2023, the total salable reserve base has been increased by more than 4 times due to the Chovdar and flank deposits.

The reserves of the said flank deposits are operated in the Chovdar Integrated Regional Processing Area (CIRPA). CIRPA was established in 2020 on the base of the Chovdar Ore Processing Area. The goal is to centrally use the available material and technical base in processing. Thereat, the economic efficiency of flank fields, which independently carry the risk of inefficiency, is ensured.

In 2020, the property life of the Regional Processing Area was assessed as 8 years, but due to the increase in reserves, this period was increased to 10 years. In the near future, the goal is to further extend the property life of CIRPA by discovering new flank deposits and increasing reserves in the region.