ALMAR presented a report of the results of geological exploration at the Beenchimee and Khatystakh deposits, prepared in accordance with the JORC code by CMT Consulting.
Following the principles of evidence and transparency, PJSC ALMAR regularly publishes financial and technical reports on its activities of independent experts. The results of exploration of both license areas based on the results of the complex of works performed in 2020 – 2022 are confirmed in the presented report by an independent assessment conducted in accordance with the Austroasiatic Code of Reporting on Exploration Results, Mineral Resources and Reserves of Solid Minerals JORC (2012).
The report on the JORC code of the results of exploration does not provide the calculation of mineral resources, but gives an idea of the fulfillment of license conditions, the work done and their results, which allowed the company to calculate mineral reserves at the Beenchimee site and forecast resources at both sites according to Russian national classification of mineral resources*, confirm the further program and budget of exploration. CMT Consulting experts noted the high quality of the work performed, confirmed the results of the work and evaluated the parameters of the explored sites.
Andrey Kharkhu, General director of ALMAR:
“Our company continues to in-depth knowledge of its deposits in order to guarantee the reliability of geological, mining and technical information for managers, shareholders and investors. A new examination carried out according to JORC standards confirmed our previous assessment of the Beenchimee placer deposit as a standard object with a surface occurrence of diamond-bearing sands, simple mining conditions and an usual average diamond content, and the Khatystakh placer as a large object with a high diamond content. This gives us confidence in the prospects of our deposits. We have taken into account the recommendations of experts to optimize exploration, we are carrying out a complex of exploration works according to plan and expect confirmation of reserves at the Beenchimee site this year, and reserves at the Khatystakh site in 2025.”
Earlier in 2019, the international geological agency SRK Exploration Services Ltd. conducted an examination of geological exploration works and their results according to the Canadian code NI43-10.
The JORC Code is an international reporting standard that is used worldwide for market reporting and financial investments of mining companies and is part of the Reporting Standards group of the Committee on International Standards for Reporting on Mineral Reserves (CRIRSCO). Companies whose shares are traded on the Australian Stock Exchange (ASX), the New Zealand Stock Exchange (NZX) and the Port Moresby Exchange in Papua New Guinea are required to comply with the standards and guidelines of this code. In Russia, the JORC code is actively used by mining companies and institutional investors.
CMT Consulting was chosen due to the experience of its specialists in the field of geological and mining audit of diamond placer deposits in Yakutia. Its specialists as part of SRK Exploration Services have already conducted an examination of ALMAR license areas in 2019 according to the Canadian code NI43-101. Issuers of the Canadian Stock Exchange (TSX) are required to use this code. SRK previously prepared a technical report of mineral resources under the JORC code for ALROSA PJSC.