May 28, 2020 The SStar Gold Resources AB (publ) board of directors are pleased to inform about further development of the activities in Russia.
The company has secured further exploration licenses in accordance with the strategy to develop primarily assets for the future development of Gold Mining activities in the Tranbajkal region.
The Board of SStar Gold resources AB (publ) on May 27, 2020 agreed to acquire 100 % of SwissStar Gold LLC (“SSG”) Moscow, from its owner, Sstartrade SA. SSG holds two exploration licenses, in same region as those already registered by the Russian subsidiary of SStar Gold Resources AB namely Sstar Trade Gold LLC, .
The purchase complements the strategic focus of the firm to concentrate on a geographical area allowing for a streamline of operations. To further support this approach the Board has also approved the sale of the Kadariskoye license held since 2019 to a company based in that region.
With the acquisition of SwissStar Gold LLC and the disposal of the Kadariskoye licence the company now has registered the following assets
- Kadarinsky plot 1: P2 - 21 tonnes of gold;,
- Kadarinsky plot 2: P3 - 9 tonnes of gold; and
- Bagadginsky plot 1: P2 - 50 tonnes of gold.
In addition, we expect that the registration of the Davan Holodgikansky plot P2 - 10 tonnes of gold, will be finalised by the end of the 2nd quarter 2020. (Covid19 permitting)
These four plots are located in Transbaikal region, Russian Federation. Due to their close location the development of the four plots can be undertaken at the same time.
Once the registration of the last license is concluded the company will be able to take the next steps necessary for an exploration program to confirm earlier reports by TKZ, an independent government accredited geologist, of the proven reserves, currently estimated at 90 tons. .
Bruno Horn Karl-Axel Waplan
Chairman CEO
For more information, please contact: Karl-Axel Waplan, CEO SStar Gold Resources AB(publ), Tel. + 46 (0) 70-510 42 39, info@sstargold.se
About SStar Gold Resources AB (publ)
SStar Gold Resources AB(publ) is the Swedish parent company of the Russian subsidiary through which the SStar Gold strategy is to be executed:
- To build a portfolio of exploration and exploitation licenses in the Transbajkal Region in Siberia, Russia
- To aggregate a variety of licenses so enabling the firm to benefit from economies of scale and efficient logistics so aiding long term profitability
- To plan and develop the mining activities on the licenses successfully acquired
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