Back On Its Feet

Alhambra Builds On Kazakhstan Gold

By Ted Niles

For now, Ihor Wasylkiw calls Alhambra Resources Ltd TSX:ALH a “one-trick pony.” Why? “Only one resource report,” the VP and Chief Information Officer replies. That would be for the Uzboy gold deposit, which has 975,500 ounces gold measured and indicated, 421,700 ounces inferred and is already a producer. “But by 1Q 2012,” Wasylkiw declares, “we will be a three-trick pony.”

The Uzboy gold deposit comprises but a fraction of the 9,800-square kilometres of contiguous property, called the Uzboy project, the company holds in Kazakhstan. Located on the Charsk Gold Belt, Wasylkiw estimates that the Uzboy project is roughly 10 times the size of New York City. This is a mixed blessing, as focus becomes an issue. “The challenge is to develop it in my lifetime,” Wasylkiw says. “We have 100 areas where we have gold. Of those 100 areas, we have been focused on six to eight of them. Of those six to eight, three are advanced project areas.”

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