Sagamar CJSC

Armanis gold-polymetallic mine

Highlights

Armanis Concentrator is the most modern plant in Armenia, equipped with the newest equipment of world leading manufacturers, with a state-of-the-art laboratory in Transcaucasia and special purpose  filtering stations of Canadian and German manufacture.

Rudokop

In July 2010 “Sagamar” CJSC obtained a license to conduct exploration works in the basin of Black and Yellow rivers. Exploration license covers an area of 69.6 square kilometers, with the band width of 3-4 km and length of 18 km east-west strike.

On the area of license exploration and mining, operations were carried out for a long time. Small deposits of copper and massive pyrite in this area were found and exploited for sulfur production. On the territory there are several old mining tunnels and platforms for boreholes. No occurrence of gold was previously known in the license area. Rudokop ore occurrence was discovered by our company as a result of drilling in 2008.

In the first stage, oxidized ore suitable for direct leaching will be mined. Oxidized ore constitutes about 2,188 thous. tons with an average grade of Au 0.9 g / t (about 2 tons of metal).

Drilling operations will be conducted with the beginning of the field season of 2011 and further on to replenish the reserve base.

Economic Indicators

The projected capacity of the Concentrator is 800,000 tons of ore per annum. During the first three years, the volume of ore processing from the open pit will be about 500,000-600,000 tons per annum. In the future, the underground mine will be put into operation, and ore processing capacity will increase to 800,000 tons per annum.

Concentrates Production at the Processing Capacity of 600,000 tons of ore*

*The projected data will be adjusted after the use of the technology

Armanis Concentrator

The Concentrator will be processing polymetallic ore by flotation method, with the extraction of base metals (gold, copper, lead, zinc) producing 3 types of concentrates totaling about 34-37 thousand tons per annum.

Laboratories are equipped mainly with equipment of German manufacturers Kottermann and Carl Roth. The Concentrator will be equipped with the newest equipment manufactured mainly by German and Chinese producers.

Armanis Mine

The exploration of Armanis gold-polymetallic mine began in 1966 and continued until 1990. From 1990 to 2000, after approval of the reserves by the State Commission for Reserves of USSR, no work was done on the mine.

In 2007 supplementary exploration of the mine started, followed by open pit stripping works. In 2010, after corporate restructuring, the shares of “Sagamar” CJSC were transferred to GLOBAL METALS (ARM) LIMITED Company.

Armanis mine is one of the largest gold-polymetallic deposits in Armenia. It is located in Lori marz, 7.5 km to the west of the town of Stepanavan and 1.5km to the north-west of Armanis village. The mine is connected to the town of Stepanavan with 7.5 km long paved road. The site is mountainous, situated on the base of Bazum mountain range. The absolute height fluctuates between 1400-1620m in the central part and up to 1400m on the flanks. The water resources are represented by Chqnagh and Debed rivers.

The approved mine reserves are around 18 mln tons (C1+C2), with the following average metal content:

The mining right of Armanis gold-polymetallic mine with 1.8 sq km area belongs to “Sagamar” CJSC. The deposit is to be exploited by integrated method: open pit and underground mine.

By mineral composition and formation conditions the mine belongs to the polymetallic formation, with relatively high content of gold and silver. As a result of exploration, 3 natural types are represented at the mine: copper-gold, copper-polymetallic and gold-polymetallic that constitute 16%, 34% and 50% of deposit total reserves respectively.

Molibdeny Ashkharh LLC

Dastakert copper-molybdenum deposit

Highlights

Dastakert copper-molybdenum deposit is situated in the Sisian region of Syunik marz of RA, on the northern slope of Bargushat mountain range, the south-east parting of Zangezur mountain range; 3 km to the south of Dastakert, 2050-2500m above the sea level.

Dastakert town is connected with the town of Sisian with 22 km long road. Sisisan region is one of the large agricultural regions in the Republic, previously known also for mining (Dastakert plant) and construction materials industry.

Dastakert copper-molybdenum plant operated on the base of Dastakert underground mine in the period of 1951-1973, during which about 2.5 mln tons of ore were extracted (with average content of Cu 0.64% and Mo 0.058%.). However, after exploitation of  Kajaran and Agarak mines started, Dastakert mine was put on care and maintenance in 1973. 

Molibdeny  Ashxarh LLC owns licenses for mining at the Dastakert mine and for geological exploration works in the Dastakert mining field (37 sq km).

Preliminary estimated investment in the new projected Concentrator with a planned annual capacity of 2 million tons of ore processing is about 105 million US dollars. As of september 2011, financing of geological exploration works constituted about 7.6 mln US dollars. Our Company permanently invests in drilling and geology works to increase the reserves.

The company continues  geological and exploration works in the area of  Sari Dara to replenish the ore base of Dastakert  deposit. Concurrently, feasibility study and technical design (Mine and Concentrator design) of Dastakert is carried out.

Dastakert copper-molybdenum plant with annual capacity of 2 mln tons of ore is scheduled to be put into operation by the beginning of 2015.