Medvezhiy

The western and eastern parts of the Medvezhiy site are located in the Bodaybinsky region of Irkutsk and belong to the Polyus Gold Group deposit of Verninskoye; where currently a gold-extraction factory is being built. A confirmation of the gold reserves on the Medvezhiy site (both western and eastern parts) will ensure the additional prospects for development and will substantially increase the mineral-ore base of the enterprise, the launch of which is planned for 2009.

The forecasted gold resources under categories of P1+P2+P3 in the western and eastern part of the Medvezhiy deposit are considered to be at least 80 tons. As a result of the scoping study conducted in 2008-2010, an increase in gold R&R on the Medvezhiy site is expected to be at least 30 tons. The investment needed to complete the scoping study during the next three years is approximately 225 mln rubles.