Rosatom: Pavlovskoye Deposit mineral resource estimate confirms 2 million tonnes of zinc
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Rosatom: Pavlovskoye Deposit mineral resource estimate confirms 2 million tonnes of zinc
12 April 2021, Moscow. First Ore Mining Company JSC (FOMC, a Rosatom subsidiary in charge of mining operations) has reported a maiden public Mineral Resource estimate for the Pavlovskoye deposit. The data was reported by AMC Consultants Pty Ltd (“AMC”) in accordance with the guidelines set out in the JORC Code.
As of February 2021, the Mineral Resources of the Pavlovskoye deposit are estimated at 55 million tonnes with an average zinc grade equivalent to 4%. The Mineral Resources contain an estimated 2 million tonnes of zinc, 430,000 tonnes of lead, and 30.3 million ounces of silver.
Igor Semenov, Executive Director of FOMC, commented:
“We are satisfied with the results of our exploration program at Pavlovskoye. The publication of the first mineral resource estimate is an important stage in the Company’s long-term development strategy and in confirmation of status of Pavlovskoye as one of the largest zinc deposits in the Russian Federation.
We continue to focus on the next stages of the development of the Project. We plan to prepare a Pre-Feasibility Study with an Ore Reserve estimate this year. Currently, FOMC is negotiating with a number of interested parties, including inter alia the conclusion of long-term off-takes and the NSR royalty agreement.”
A 2020 verification drilling programme provided sufficient confidence to generate a Measured and Indicated Mineral Resources report and to better define the distribution of minerals in the near-surface zone of Pavlovskoye’s potential future open pit, where first-priority mining is expected to take place. As part of the verification drilling, the company also carried out a geotechnical drilling program with core orientation to help define the potential mining operation.
FOMC is planning further drilling operations to improve confidence levels for Inferred Mineral Resources and test down-dip extensions. The company will also continue its geotechnical drilling programme.
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Notes to the editor:
About Rosatom
ROSATOM is a diversified holding that unites assets in the energy sector, the mechanical engineering industry, and the construction industry. Its objective is to develop low-carbon sources of energy, including wind energy. ROSATOM is Russia’s national leader in electricity generation (producing over 20% of the country’s total power) and ranks first in the world in terms of portfolio of foreign projects, with 35 power units at different stages of implementation in 12 countries. ROSATOM is the only company in the world that has competencies in the entire technological chain of the nuclear fuel cycle, from natural uranium mining to the final stages of a nuclear facility’s lifespan. The scope of ROSATOM’s activity also extends to scientific research, the development of the Northern Sea Route, the development of various innovative products, both nuclear and non-nuclear, and environmental projects, including the creation of eco-technology parks and a state system for handling hazardous industrial waste. ROSATOM employs over 260,000 people in more than 400 enterprises and organisations.
