Large deposit of magnetite found in Kostanay region
Deposit is estimated to contain up to 30 million tons. When initial estimation provided number ofonly 7 million tons.
Assistant engineer rig Alexander Kucherenko and Valery Borsuk and drilling foreman Valery Prosnev put extracted samples in boxes . Works near Karabalyk Nadezhdinka suspended due to achievement of initial task. Geological survey's results were greater than expected.
"Additional research is needed to determine the exact parameters of the deposit. Plus the change of deposit size requires paperwork", says Bulat Edigenov executive director of Kostanay Geological Survey Expedition.
The company conducts prospecting and exploration works outside the region as well in Karaganda, North Kazakhstan, and Mongolia.
Bulat Edigenov says Karabalyk deposit looks promising as the ore resources occur 8-20 meters deep which makes overburden tripping easy and less expensive. Plus deposit is located close to settlements, power lines, roads and railways. All of this makes the extraction and realization easier.
Nadezhdinskoye deposit is considered as raw material base for SSGP JSC.