Levant Energy:
Gold Exploration & Production in Kazakhstan
Unlock the vast potential of Kazakhstan's untapped gold reserves with Levant Energy's $23 million investment opportunity in the Buzgul region, nestled within the renowned Zhetygarinsky Gold Belt. Our dedicated team has pinpointed the Buzgul 1 and Buzgul 2 license areas, spanning over 606 km², as exceptionally promising sites with strong geological indicators of substantial gold deposits: P1 - 36 Tonnes and P2 - 197 Tonnes of gold (and potentially up to 350 Tonnes). 197 tonnes at current prices this asset is potentially worth more than $16 Billion.
The Buzgul geological allotment, which includes Buzgul 1 and Buzgul 2 license areas is located in the central part of Zhetygarinsky ore district, which is one of the largest gold mining provinces in Kazakhstan.
Executive Summary

1

Project Objective
Levant Energy aims to raise $20 million to advance gold exploration and production in the Buzgul area, Kazakhstan.

2

Key Selling Points
The project is located in a historically rich mining district with promising gold reserves, experienced management, and a clear path to production.

3

Investment Opportunity
Early-stage entry with potential for high returns through strategic development and exploration in under-explored areas.
Project Overview
Location
The Buzgul exploration project is located in the Kostanay Oblast region of Kazakhstan, a major mining hub in Central Asia. The project area is situated within the renowned Zhetygarinski Gold Belt, a historically productive district that has yielded significant gold deposits over the decades.
Licenses
The project consists of two licensed areas - Buzgul 1 (262 km²) and Buzgul 2 (345 km²) - totaling 606 km² of highly prospective ground. These licenses provide Levant Energy exclusive exploration and development rights within the designated concessions.
Geography and Access
The Buzgul project benefits from excellent year-round accessibility, with well-developed road and rail infrastructure connecting the site to regional hubs. This allows for efficient transportation of equipment, personnel, and future mineral production. The project's proximity to established population centers also facilitates the availability of skilled local labor to support operations.
Historical Context and Previous Work

1

Early 1900s
Exploration began with significant finds in the 1920s and 1930s.

2

1950s
Systematic exploration resumed with detailed geological mapping and prospecting.

3

2000s
Significant production of gold on site generating approximately $120 million in revenue, with gold prices averaging $1,300 per troy ounce.

4

2023
Further exploration work with 31,001 linear metres drilled across 42 profiles. Discovery of numerous gold anomalies and 22 ore zones, with two deposits identified as commercially significant.
Proven Historical Production ($120m generated)
The Kutyukhinskoye deposit, situated within the Buzgul-2 license area and covering 5 square kilometers, is located just 5 kilometers from the Popovskaya vein. This deposit is notable for its oxide gold, which is highly suitable for heap leaching. From 2013 to 2018, a Dore alloy production plant operated on-site, producing significant quantities of gold. Over these five years, the plant generated $120 million in revenue, with gold prices averaging $1,300 per troy ounce. Currently, the plant is mothballed, but during its operational period, it produced an average of 250 kg of Dore alloy annually, with a gold content ranging from 70% to 85%. The plant was capable of producing approximately 200 kg (6,430 troy ounces) of refined gold annually, with projected revenue reaching $11.57 million at a gold price of $1,800 per troy ounce.
Asset Potential and Geological Insights
Known Gold Targets
Prirazlomnoye and Oktyabrskoye Blocks: Identified as significant with P1 inferred resources. Additional Prospects: Dzhangiz-Karagay, Chernoslantsevy, Anomalny, and Gachkeevsky blocks require further exploration.
Resource Estimates
Inferred resources: 197 tons of gold across multiple sites. High potential for further discoveries in deep horizons and flanks.
P1 - 37 Tonnes, P2 - 197 Tonnes (additional resource clearly in place up to and maybe exceeding 350 Tonnes
Next Steps and Development Plan

1

Short-term Goals (2024-2026)
Complete resource calculation and register reserves under JORK KazRC standards. Begin trial mining and process ore at nearby plants. Commence the design and construction of a gold processing plant.
In the short-term, our focus will be on solidifying our resource estimates and obtaining the necessary permits and approvals to begin production. We will leverage existing processing facilities in the region to test our ore and refine our operations before constructing our own dedicated plant. This will allow us to move quickly while minimizing upfront capital expenditures.

2

Long-term Goals
Expand production capacity to 1 million tons of ore per year. Build an on-site processing plant to increase efficiency and reduce costs.
Looking further ahead, our long-term vision is to scale up production to maximize the value of our assets. This will involve constructing a state-of-the-art processing facility on-site, which will give us greater control over the entire production process and allow us to capture more of the economic benefit.
Investment Requirements
$20M
Total Capital Needed
Phase 1 (2024-2025)
for resource registration, plant design, and initial mining & production
Phase 2 (2025-2027)
for scaling production and construction of on-site processing facilities
The total capital investment required for this gold exploration project in Kazakhstan is $20 million. This will be deployed in two phases over the next 3 years.
In Phase 1 from 2024-2025 we will complete the resource registration process, and begin initial mining & production activities.
In Phase 2 from 2025-2027 we will design and construct a gold processing plant, and conduct full scale mining operations. This will set the stage for ramping up full-scale production in the following years.
Financial Projections
Production Forecast
Year 1: 200 kg of doré gold (~4,938 ounces refined).
Year 3: Increase production to ~100,000 ounces refined.
Year 5: Increase production to ~200,000 ounces refined.
Cost Estimates
Production Cost: Approximately $350-$400 per ounce.
Revenue Projections: Potential annual cash flow of $500 million by Year 5.
The value of 197 tonnes of gold at a gold price of $2,500 per ounce would be approximately $17.37 billion USD.
Risk Management and Mitigation
Geopolitical Stability
Operations based in Kazakhstan, a mining-friendly jurisdiction with established regulations.
Technical and Operational Risks
Managed through partnerships with experienced contractors and consultants.
Environmental and Social Considerations
No significant environmental or social risks identified in the license areas.
Team and Strategic Partners
Experienced Leadership
Levant Energy is spearheaded by a seasoned consortium of experts with over 30 years of experience in early-stage mining and resource development. Our team has successfully driven a diverse portfolio of projects across Africa, Asia, and Eastern Europe, consistently turning promising opportunities into thriving ventures.
Key Partners
A team of key partners, including Geoproject Invest (GP), and Tyan Shan Ltd, is advancing the Buzgul project. GP leads the exploration, while Tyan Shan conducted geophysical surveys identifying gold targets. Their combined expertise and local knowledge ensure successful progression toward resource development and production.
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