Kazax Minerals (Kazax) is committed to generating shareholder value through the responsible development of the Lomonosovskoye Iron Ore Deposit located in Kazakhstan.
The Lomonosovskoye Project (“LOMO”) is situated in the Kostanay Region of north Kazakhstan, near the city of Rudniy, 618 kilometers from the country’s capital Astana. Rudniy, which in English translates to “ore”, was established to support a prolific mining district with numerous operations that have been producing iron ore for the last 50 years.
Kazax focused its exploration on confirming the historical data, tonnage and grades of the LOMO Deposit. In the period 2010-2014 drill programme consisted of 86 drill holes totaling 25,311m, geophysics and ground magnetics. The compilation of all this work resulted in the first Canadian National Instrument 43-101 Mineral Resource estimate on the LOMO Deposit. The estimate includes a Measured and Indicated Mineral Resource of 507.8 million tonnes at 29.89% Fe and an Inferred Mineral Resource of 78.1 million tonnes at 30.38% Fe (according to the definitions from JORC Code standards) based on a cut-off grade of 20% Fe.
In conjunction with the current drill programme, Kazax has commissioned Wardell Armstrong International as lead consultant to complete Feasibility Study on the LOMO Deposit; the Feasibility Study was signed in December 2016. This is a key milestone in the development of the LOMO Deposit for both the Company and its investors.
The Lomonosovskoye Project has a favorable location due to its proximity to transportation routes, and supplies of water, gas, and power, which have been established to support other mining operations in the region. This established infrastructure has the potential to reduce capital expenditure and the cost of production if the project proceeds to development:
- Major rail network to Russian & Chinese markets
- Paved roads: local & regional
- Electricity & gas facilities – 5km
- Water supply – 20km
- Kostanay airport – 50km
- Local mining university
The Government of Kazakhstan has announced significant changes to its current mining codes in a bid to improve attractiveness to international investors. Modeled on Australian principles, the amendments to the laws are focused on removing many bureaucratic procedures in order to attract increased exploration.
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