Kazakhstan’s gold mining company BASS Gold has made a significant move to diversify its resource base by acquiring a 51% stake in the Alashpai polymetallic project located in the Ulytau region. This acquisition involves Sary Arka Resources Ltd., which operates the project through its subsidiary, LLP ‘Saryarka Polymetals’. The deal marks a strategic expansion for BASS Gold as it seeks to enhance its mining portfolio beyond gold.
The Alashpai site has seen extensive exploration activity, with over 60,000 linear meters of drilling conducted between 1991 and 2020. The project boasts substantial reserves, with balance estimates indicating over 5.5 million tonnes of ore categorized as C1 and C2. The mineral composition of the Alashpai deposit includes approximately 260,650 tonnes of lead, 11,000 tonnes of zinc, and 42,830 tonnes of barite, alongside silver, although specific quantities of silver were not disclosed in the company’s announcement.
BASS Gold has swiftly transitioned from the acquisition phase to practical operations at the site. Preparatory work is currently underway, focusing on site preparation, infrastructure development, and the establishment of production processes. The company aims to incrementally increase its operational capacity as it progresses.
This new project complements BASS Gold’s existing asset, the Ushshoky mine, where the company has already established an administrative and living centre, a refuelling complex, and a central warehouse. Construction is ongoing for a crushing and sorting complex, which will incorporate automation systems and artificial intelligence technologies to enhance ore sorting efficiency.
The strategic acquisition of the Alashpai project underscores BASS Gold’s commitment to expanding its mining operations and diversifying its mineral portfolio, positioning the company for future growth in the competitive mining sector.
