Karchiga VHMS

(volcanic hosted massive sulphide) Copper-Gold Project

Licence Location

The Karchiga Copper-Gold deposit is a mid-Palaeozoic aged metamorphosed volcanic hosted massive sulphide deposit (VHMS) located in the extreme north east of the Republic of Kazakhstan, within 40km of the Chinese border. The project is readily accessible and is situated on gentle undulating terrain.

The Karchiga deposit is located within the north west striking, mid-Palaeozoic, Rudny Altai VHMS terrane, the host of numerous world class VHMS deposits, including the Leninigorsk, Zyryanovsk, Maleevsky and Ridder Sokolnoye deposits. The Rudny Altai is ranked in the top four VHMS belts of the world with over 70Mt of contained metal and forms the eastern limb of the Mugodjar-Rudny Altai arc with the western limb hosting the abundant VHMS deposits of the southern Urals.

Project History

The deposit was originally exploited by Chinese artisans in ancient times and was re-discovered and explored by Soviet geologists during the 1940’s and 50’s. The Soviet era exploration included more than 100 cored drill holes and an exploration shaft into the ore body. The deposit has a historical resource (Non-NI 43-101 Compliant) of 6.3Mt grading 2.77% Cu and 0.8 g/t Au. Lero is required to submit an exploration work programme for the Karchiga deposit and surrounding licence holding.

Project Geology

Mineralisation at Karchiga occurs as shallow dipping tabular bodies of massive and disseminated chalcopyrite-pyrite ranging from 2-25m thick that are hosted by highly metamorphosed amphibolite and gneiss. The deposit appears to be geologically continuous and robust.