Chaarat Gold Holdings Limited announced the completion of the 2023 drilling programme in the Karator oxide gold prospect. The Karator prospect is a northeastern extension of Tulkubash project, which could potentially add significant reserves to the later years of the Tulkubash development. The Karator prospect was first drilled in 2021, which included 6 metres of 5.06g/t gold.

Tulkubash contains JORC-compliant contained gold ounces in the Ore Reserves 647koz Au and total resources of 1,011koz Au2. The2023 Drilling Programme included result highlights of 3.38g/t gold over 21.5 metres in DH23K625 and 1.43g/t gold over 95 metres in DH23K628, further confirming the significant exploration prospectivity of Karator oxide gold mineralisation. The completed Karator 2023 drilling programme consists of nine drill holes, totaling 1,603 meters as an initial phase of a resource definition drilling programme, which will systematically drill on 40 by 40 meters centres, over the entirety of the strike.

All nine completed drill holes intersected oxide gold mineralisation, confirming Karator prospectivity for high quality additional Tulkubash oxide gold resource. Further detail can be found in the updated Resource and Reserve presentation, which is now available on the Chaarat website. The Karator zone is located approximately 2 km to the northeast of the Tulkubash east pit, striking southwest to northeast and steeply dipping to the southeast.

The prospective zone is trenched on approximately 1,000 meters of strike, having approximately 30 to 50 meters true width and drilled to 150-250 meters depth. The prospect is open along strike to southwest and to northeast and at depth. The mineralisation is tested by systematic trenching on surface, maiden exploration drilling in 2021.

The infill drilling at 2023 is confirming the deeply oxidized nature and continuity of Karator gold mineralisation along strike and in depth. The zone structural position of the Karator mineralisation is controlled by an extensional shear zone developed along or between the major Contact and Irisey reverse faults. In the coming years, Chaarat is planning to continue Karator assessment via further systematic step out and infill drilling, metallurgical, and geotechnical test works.