en.Wedoany.com Reported - The Far East Minerals Agency will hold an auction on July 21 for the right to use the Nechaku Creek deposit, located in the Bilibino District of the Chukotka Autonomous Okrug, Russia, on the right tributary of the Burgakhchan River (р. л. 70–101), covering an area of 2.08 square kilometers.
The deposit has registered C2 category placer gold reserves of 189 kg, with P1 and P2 category predicted resources of 308 kg of precious metals. Auction documents indicate that the deposit's reserves have not yet undergone state review. The starting price for the auction is 15.763 million rubles, with a bid increment of 1.576 million rubles. The winner of the mining rights will receive a 27-year term for conducting geological research, exploration, and gold extraction within the licensed area.
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