Trans-Siberian Gold wins new license

AIM-listed miner Trans-Siberian Gold (LON:TSG) announced that its wholly-owned subsidiary has received a 20 year license for the development and exploration of a large gold deposit in South Kamchatka. The company is currently devising its fieldwork programme to fully assess the potential of the field.

Chief executive Alexander Dorogov commented: “I am pleased to announce that following the successful bid for the Rodnikova licence, TSG is no longer a single asset miner. We believe that Rodnikova is a complementary asset which perfectly fits the TSG portfolio of epithermal deposits as well as our strategy of becoming a premier mid-tier gold producer and developer.

We see potential geographic and operational synergies, as Rodnikova is located at the heart of our operations in South Kamchatka, just 50km from the Asacha Gold Mine. TSG is ideally placed to develop the asset, as Rodnikova and Asacha have similar types of mineralisation and TSG’s highly experienced management team has a deep understanding of the region and significant expertise of successfully bringing epithermal deposits into production“.