Centerra owns 100% of the Gatsuurt exploration property, located 35 kilometres from the Boroo mine. It is connected to the Boroo mine site by a 55 kilometre road which was completed in 2010. The Gatsuurt site preparation is complete, awaiting approval to commence mining.
In April 2005, following extensive regional exploration programs in both the Boroo and Gatsuurt districts, Centerra announced the addition of 387,000 ounces of indicated resources at the Gatsuurt deposit. This raised estimates at the deposit to 11.3 million tonnes of ore for a total of 1,227,000 ounces of contained gold.
New resource estimates were announced in January 2006 following further exploration programs and the completion of a feasibility study in December 2005. An updated feasibility study was completed for the Gatsuurt project in the first quarter of 2006 that added an economic open pit in the Main Zone in addition to the Central Zone open pit identified in the December study.
At December 31 2013, probable reserves at Gatsuurt for the Central and Main Zones combined were estimated at 1.6 million ounces of contained gold, measured and indicated resources were estimated at 398,000 ounces of contained gold and inferred resources were estimated at 440,000 ounces of contained gold.
In January 2015, the Mongolian Parliament designated the Gatsuurt Project as a mineral deposit of strategic importance. This designation allows the Gatsuurt Project to move forward within the application of the Water and Forest Law.Provided that the final approvals and regulatory commissioning is received for the Gatsuurt Project, it will be developed in accordance with all applicable Mongolian environmental regulations and international standards consistent with the standards adopted by the Boroo mine. The Company plans to mine the ore at Gatsuurt and truck it to the existing Boroo mill to be processed. Under the current plan for Gatsuurt, the Company expects to process approximately 3.6 million tonnes of CIP ore with an average grade of 2.86 grams of gold per tonne through the existing Boroo facility in the first two and a half operating years of the Gatsuurt Project. During this time, a BIOX® facility is planned to be added to the existing Boroo facility which will be used for the processing of the remaining BIOX® ores totaling approximately 13.5 million tonnes with an average grade of 2.92 grams of gold per tonne.