# Georgian Mining Corp Q&A: Significant Drill Intercepts at the Kvemo Bolnisi Project (LON:GEO)

- Link: https://www.directorstalkinterviews.com/georgian-mining-corp-qa-significant-drill-intercepts-kvemo-bolnisi-project-longeo/412723858
- Published: 2017-02-14T11:39:58+00:00
- Author: Amilia Stone

**Georgian Mining Corp** (LON:GEO) Managing Director Greg Kuenzel caught up with
DirectorsTalk for an exclusive interview to discuss the significant drill intercepts
at the Kvemo Bolnisi project, what the next steps are and what investors should 
be looking out for.

 

**Q1: Now Greg, Georgian Mining Corp have just announced near-surface intercepts
from the first 3 drill holes at your Bolnisi project in Georgia, can you talk us
through the highlights of this news?**

**A1**: We started just before Christmas, a 10,000-metre drill programme targeting
an initial 3-5 million tonne resource at Kvemo Bolnisi which is our priority target
within our 860-square kilometre licence area in Georgia. Kvemo Bolnisi was chosen
as a target for a number of reasons, a lot of historic work, very prospective, but
importantly it’s only 7 kilometres away from our partner’s operating copper mine,
the Madneuli mine, which has a float plant with excess capacity. We also have access
to a gold heap leach as well which is important because at Kvemo Bolnisi we have
three targets at the moment, we have a copper-gold sulphide and then 3 gold-oxide
targets. These results that we’ve put out this morning are the first three drill
holes from the copper-sulphide target and we are obviously very pleased with these
results, the highlight being KED-11 at 114 metres at 1.7% copper and importantly,
close to surface, that result is from 18 metres so that’s a very exciting result
for us, the second hole 28 metres at 1.6% with a decent gold credit in there of 
0.8 grams per tonne. So, the first 3 out of a circa 50-hole drill programme, a very
good start and I think very exciting for the fact these results weren’t included
in the initial resource that was announced a couple of weeks ago, so they’ll go 
a long way to helping increase and improve that resource.

 

**Q2: Indeed, and gold obviously being a bonus there?**

**A2**: Yes, definitely.

 

**Q3: Can you talk us through the next steps and the timescales that are involved
with those steps?**

**A3**: Well, as I said, we’ve got three main targets, these results today on the
copper-sulphide target, so we’ve already drilled another 17 holes on the copper 
sulphide, half of those are currently at the lab being assayed, the other half are
being prepped in-country and will be on their way shortly, if they aren’t already.
We will then continue drilling these results along with the next lot of results 
which will be used, as I said, to upgrade the resource, we’re targeting an initial
3-5 million tonnes which, although modest, has the potential to provide us with 
3-5 years’ worth of production utilising the capacity at the float plant, so although
modest is quite a significant target given we’ve got no capex or mineral infrastructure
costs. I guess it’s also important to point out this is a much larger target, we
have an exploration target at Kvemo Bolnisi of grade about 50 million tonnes given
the similarities we’re seeing between it and Madneuli so a very scalable project
and one that we hope is going to be able to generate some revenues for the company
in the short-term as well.

 

**Q4: In terms of new flows then, what should investors be looking for over the 
coming months for Georgian Mining Corp?**

**A4**: We’re obviously going to have the additional drill results so the 17 that
are already completed plus those still being undertaken, we’re also drilling the
gold-oxide target as well which we announced a separate initial mineral resource
on that. That’s quite an exciting one as well because we’re seeing, similarly to
what we announced last year, at-surface high grade gold-oxide capping which again
presents a fantastic opportunity for the company as far a short-term production 
because we have access to our partner’s gold heap leach processing plant. So, we’re
going to have drill results on copper, drill results on the gold, upgraded resource
and then that’s all going to lead on to finalising the economics and the agreement
with our partner for offtake which we’ve decided to be starting on and look forward
to updating the market in the short-term.

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