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New Gold Polar Deposit To Be Developed

Russian mining company Pokrovskiy Pit plans to launch gold mining

New Gold Polar Deposit To Be Developed

Russian gold mining company Pokrovskiy Pit plans to launch gold mining at Novogodnee-Monto, which is located about 1 km from the Obskaya-Bovanenkovo railway, Yamalo-Nenetckiy region. The production is expected to start in March 2007.

It is intended to mine 4 tons of gold annually at the deposit. The deposit?s resources are estimated at 170 ? 250 tons.

Novogodnee Monto ((New Year Monto) was discovered in December 2003.

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