Astana, Kazakhstan, April 17, 2024 - Aurora Limited spoke at the 14th Mining and Geological Forum of MINEX Kazakhstan, presenting a report focused on the prospects for the development of exploration in Kazakhstan.
A fresh look at investments and project management strategies, presented by the company's CEO, Said Sultanov, highlighted the importance of attracting capital to the exploration of Kazakhstan. Aurora Limited also shared its successful cases of project development and investment attraction.
As part of the speech, Aurora Limited announced its withdrawal from the drilling (NovaDrilling, AQS) and aerogeophysics (Xcalibur Smart Mapping) sectors. This strategic decision was made after an analysis and revision of the company's development strategy. The focus will now be on the following services: project development, acquisition and management of licenses, provision of geological, geophysical and logistics services in the field of exploration, as well as conducting mergers and acquisitions (M&A) and expanding access to the stock market.
In the context of the active entry of large global and junior companies into exploration and production in Kazakhstan, significant discoveries of deposits are expected on the territory of our country, given that 68% of global discoveries come from junior companies. In this regard, Aurora Limited expresses its openness to partnership and is ready to support companies wishing to enter the market of Kazakhstan. As one of the founders
Of the Kazakhstan Chamber of Mines, Aurora highlighted the prospects of joining the Chamber, noting an increase in the number of participants to 40 companies.
Also, during the report, relevant projects for partnership in the Balkhash district were presented, with detailed information about their potential and geological characteristics.
Balkhash - lakeside.kz
A license area of 1,352 sq. km, acquired in a highly promising porphyry area
The license area is located next to two operating mines
7 lithocaps have been identified
The license area along the famous northwest porphyry corridor
Kemir is located in the Balkhash district.
Potential of mineral resources:
(COG 0.2%, up to a depth of 350 m):
- 27 million tons of ore,
- 100.7 thousand tons of copper (0.4%),
- 71.8 thousand ounces of gold (0.2 g/t),
- 4.1 million ounces of silver (6 g/t)
Tesiktas - two exploration sites located in the Balkhash district and 3 km from the Tesiktas field, with estimated reserves presented as follows: C1- 119 thousand tons (Cu); C2- 22 thousand tons (Cu); off-balance sheet ores - 27 thousand tons (Cu).The average copper content is 0.88%.
The average gold content varies from 0.1 g/t to 3.4 g/t in individual intervals. Aurora Limited also held a meeting in its office with a new company that they met at the PDAC exhibition in Toronto. Foreign colleagues noted that many international companies are actively operating in Kazakhstan, while there are only two junior companies. We discussed a lot of issues and expressed hope for the imminent appearance of another junior company trading on the Toronto Stock Exchange.