Russia's Atomredmetzoloto (ARMZ), part of the state corporation Rosatom, announced the discovery of substantial gold reserves at the Chukotka-based Sovinoye mine. Experts highlight that the reserves exceed 100 tonnes, marking a significant find. Regarded as the largest gold discovery since the dissolution of the USSR in 1991, this mine has sparked considerable interest. ARMZ conducted year-round drilling operations at the site, overcoming the challenges posed by the harsh climate and permafrost. The perseverance paid off when workers unearthed the gold reserves. Over the last three years, they drilled 123 wells, covering a total length of 32 kilometers. All exploratory, topographic, geological, geochemical, and geophysical work has now been completed. ARMZ estimates that Rosatom has invested over 1 billion rubles in this project. The funding was allocated to develop a mining cluster based on the Sovinoye mine, as well as the Ryveem and Dor ore fields. This ambitious project involves the construction of a production complex for mining and processing gold-bearing ores, with plans to produce gold alloy ingots in the future.
