International precious 
 metals exploration 
 company 

Company releases

  • Sep 22, 2017 Holding(s) in Company
  • Sep 20, 2017 Director/PDMR Shareholding
  • Sep 15, 2017 Interim Results

Stakhanovsky

Location and infrastructure


The Stakhanovsky ore field is located in the Susuman district within the Magadan region. It is the oldest and most developed part of the Kolyma gold producing area. There is a settlement, Udarnik, located next to the licence area and it is the permanent base of the alluvial gold producing companies operating in this area. Udarnik has a permanent electricity supply from the national grid and the power supply extends along the major streams in the Stakhanovsky licence area to provide power to alluvial gold operations. The licence area is 40 kilometres to the North of the district capital Susuman and can be easily accessed by gravel roads. Susman is the main regional town and is situated at the confluence of the Susuman and Berelyekh rivers.


Geology


The general geology of the area is represented by marine sediments of the Lower and Middle Jurassic system and continental sediments of the Upper Carboniferous system. Jurassic sediments are represented by claystones; siltstones; sandstones and some gravels. Carboniferous sediments are represented by mostly sandstones, gravels and conglomerates.


Intrusive rocks are represented by Upper Jurassic dykes of differing composition. The composition of the dykes varies from diorite-porphyry to granite-porphyry. These dykes are predominantly steep dipping but they are shallow dipping in the area of the Stakhanovsky ore field.  The length of individual dykes varies from first hundreds of metres up to several kilometres, while the thickness of the dykes is from one to 20 metres, with the average being about 7 metres. The dykes strike mostly in a northwest direction.


Intense alteration is observed in the dykes. Alterations are characterised by sericitisation, silicification, carbonatisation, chloritisation and sulphidisation. Often, alteration is so intense that it is not possible to recognise the primary composition. Boundaries between altered and unaltered material can be gradational or sharp. Mineralised, altered dykes can be clearly mapped using IP / VES IP as has been shown by test work.


Contrast soil anomalies and a number of grab samples with high gold grade are related to the altered dykes (Fig 3-3.).  The dykes are considered to be the main source for numerous alluvial gold deposits within Stakhanovsky ore field. The historical gold production from these placer deposits is around 75t of gold.


In total, more than 20 kilometres of gold bearing altered dykes have been mapped in the Stakhanovsky ore field. Gold grade distribution is characterised by very high levels of variations. It was defined that historic channel and core sample sizes were not representative in order to negate the “nugget effect” of the gold distribution and give reliable results. As a result, Ovoca has decided to carry out exploration using RC drilling technology, which extracts more material per drilled meter due to the wider diameter of the drill hole.

3-3 Gold soil anomalies within Right-Berelyekh district.
Excerpt from SRK report (Stakhanovsky license area outlined)

4-1 Work done within the licence (over Landsat image)
Excerpt from SRK report

6-3 Gold particles extracted from the bulk samples by hand picking from the gravity concentrate.
Excerpt from SRK report

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