Resource estimation

Explored resources

The territory of the CAO contains 10% of the explored gold deposits of Russia. It is estimated that as of January 1, 2006, Okrug’s gold deposits amount to 527.6 tons. This figure includes both balance and beyond-balance resources of lode and placer gold.

Table 1. Explored gold deposits of the Chukotka Autonomous Okrug

	Balance		Beyond-Balance
	Category А+B+C1	Category С2
Total	203,1	198,1	126,4
Lode	81,0	195,1	113,5
Placer	122,1	3,0	12,9

As of January 1, 2006, 513 gold deposits were found. They differ in types and methods of mining:

Table 2. Gold deposits by types and methods of mining:

Type of deposit	Method of mining	Volume of Gold, in tons
total		527,6/513
lode		389,6/7
placer, including:		138/507
	open pit	61,0/364
	Underground	62,8/106
	Hydraulic	2,8/34
	Dredge	11,4/3

Distribution of gold deposits is different for each region of the Okrug.
Table 3 shows balance gold deposits (beyond-balance is given in the brackets):

Table 3. Gold deposits by districts and areas (approximate figures):

Administrative District	Type of Gold,	Estimated	Number of
Administrative District	Method of Mining	Volume (in tons)	Mines
*Anadyr*		*22,1 (1,7)*	72
	Lode		1
	placer		71
	including:
	dredge		1
	hydraulic		1
	open pit		64
	underground		5
*Bilibin*		*65,7 (4,5)*	*270*
	Lode		2
	placer		268
	including:
	dredge		1
	hydraulic		31
	open pit		197
	underground		39
*Yioultin*		*26,0 (7,9)*	24
	placer		24
	including:
	dredge		1
	open pit		9
	underground		14
*Chaoun*		*165,9 (114,2)*	78
	Lode		2
	placer		76
	including:
	hydraulic		4
	open pit		62
	underground		10
*Providensk*		*0,4*	5
	placer		5
	open pit		5
*Shmidt*		*31,2 (4,4)*	76
	Lode		1
	placer		75
	including:
	hydraulic		3
	open pit		32
	underground		40

Resources forecast

Resource expectations exceed the explored resources by many times. As of 01.01.2005, the Ministry of Industry and Development of Russia approved resource forecast for lode gold in 26 locations showing positive geologic and economic parameter.
The total resource forecast for categories Pi-P2-P3 is 950 tons including:

1.290 tons (30.5%) transferred to licensed extractors;
2.660 tons (69.5%) still undistributed.

Total resources according to forecast:

89% - lode gold;
11% - placer gold.

Lode gold of the prime line of mining (new gold deposits profitable for mining in contemporary economic conditions are expected) is divided into the following categories:

1Р1 – 40%,
2Р2 – 54%,
3Р3 – 21%.

Resources and potential gold deposits differ from district to district.

1.Chukotka metallogenic system has been studied best of all. Here the main resources and potential placer gold deposits are situated. The discovered and explored lode gold deposits and prospective lode deposits consist mainly of gold-quartz and gold-sulphide.
2.Oloysk metallogenic system, the second largest system. It is characterized by high placerity of gold. Ore deposits are mainly gold-quartz and molybdenum-copper gold containing formation.
3.Okhot-Chukotka metallogenic belt primarily includes ore deposits of gold-silver formation type.
4.Koryat-Kamchat Province has been studied very little, but there are prospects of finding gold-containing ore deposits of gold-quartz and molybdenum-copper, lode and placer deposits of platinum there.

In eastern parts of the Okrug, presence gold-silver vulcanite and gold-sulphite metamorphosis traces (“Maiskoe” deposits, for example) has been located.

Anadyr

5:41 -14°C

COMMENTS

The program of economic development in Chukotka can be carried out, considers vice-premier of government CHAO M. Sobolev.

First of all, the long-term program leans on resources of peninsula. Let’s begin that geological resources of Chukotka are explored today on 10 %-17 %. The next regions are explored much better. And even on these, tentative estimations resources here can be found. The proved resources of gas on the Priosernoe deposit - 7,3 billion cubic meters. Oil resources are estimated approximately in 10 million tons, the proved stocks make 4 million tons of them. They are dispersed on small Fields, such, as Hatirskoe, where extraction is conducted by "Sibneft" company. But it is not necessary to dismiss a shelf – it’s insufficiently studied yet, but there are data, that it’s resources can make up to 14 billion tons of conditional fuel. Exxon Mobile Company in similar ice conditions, in Baffin bay has constructed 7 platforms. What prevents to construct them here?
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Reindeer breeding can be profitable: E. Marochkin acting on the head of agriculture and foodstuffs department makes comments.

There was a moratorium on an industrial slaughter of deers in district till 2006. But now it is removed, farms have allocated a contingent for commodity slaughter this year. It is planned to hand over in a trading network about 9 thousand deers this year. Within the limits of national project the agrarian and industrial complex have got slaughter area on terms of financial leasing which is assembled in Kanchalan. Basically its value is in that correctly cut production will receive a trade look and will answer all established norms. The livestock of deers for September, 1st - from above 183 thousand. It’s below the level of 1990 (490 thousand heads), nevertheless, in Chukotka a livestock grows on faster rates, than on Yamal, and it’s our main competitor. Potential market - not only Vladivostok, but also Japan, Korea, China. Reindeer breeding is, at least, preservation of a traditional way of life of native people and food safety of region and when sales volumes become great enough, branch can turn in profitable.
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