Savoyardy
The Savoyardy exploration license (84 squre kilometres) is situated in the south of the Kyrgyz Republic on the border with China.
The Savoyardy Gold Project has been joint ventured to ASX listed Kentor Gold Limited (Kentor), which has the right to earn up to a 70% interest in the project by incurring exploration expenditure of at least US$6 million over a 5 year period to 31 March 2012. Click here to view Kentor's website.
The Savoyardy Gold Project covers a northeast trending belt of sedimentary rocks, which form part of the Southern Tien Shan thrust/fold complex. Gold mineralisation is known to occur over at least a 12km strike, and is exposed in Soviet-era costeans and adits at the Savoyardy prospect where Perseus has previously obtained channel samples including 7m at 12.9g/t, 2m at 38.9g/t and 31m at 1.7g/t Au.
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At the high-grade Rudny Prospect, gold mineralisation was initially defined via sampling of surface trenches and underground exposures by Soviet explorers. A soil sampling program in 2005 identified a number of gold in soil anomalies and drilling by joint venture partner Kentor has produced results including 14m @ 15g/t gold from 78m, 15m @ 14.2g/t gold from 21m and 6.5m @ 11.3g/t gold from 50.5m.
Kentor, as manager of the joint venture, has submitted an extensive $1.8M exploration program for the next 2 years that includes rehabilitation of the underground adits at Rudny, underground development to facilitate channel sampling and underground diamond drilling, and surface diamond drilling of a number of targets.