Additional geological exploration begins at Fedorova Tundra

Press release

A team of drilling technicians and geologists has arrived at the Fedorova Tundra platinum group metals deposit to drill wells for sampling and conduct an additional survey to re-estimate the reserves for a feasibility study of permanent exploratory standards.

Fedorovo Resources, the project operator, plans to drill 100 core holes, collect and analyse around 20,000 core samples, and carry out a number of additional studies.

As part of the feasibility study, the operating company is also going to conduct a supplementary environmental baseline analysis in order to obtain objective environmental data on the licence block before its actual development and lay a foundation for applying best environmental practices and techniques under the Fedorova Tundra project.

The Fedorova Tundra project is of utmost importance to us. The regional government provides assistance in resolving issues related to subsoil use and coordinates the interaction with federal executive agencies and local authorities. The project envisages the industrial advancement of undeveloped areas rich in mineral resources and opens up new growth prospects, while also giving existing metals and mining and energy businesses an opportunity to utilise their capacities.
Tatiana Russkova
Minister of Arctic and Economic Development of the Murmansk Region

The field stage of the additional geological exploration and environmental baseline study, with experts from Apatity and Monchegorsk involved, is projected to end in Q4 2021.

We were specifically looking to bring companies and specialists from the Murmansk Region on board for the Fedorova Tundra project. The region has rich traditions of geological exploration and mining, as well as experienced personnel and the necessary machinery and equipment. I believe that local talent will help ensure the high quality and timely completion of all scheduled activities.
Alex Gostevskikh
CEO of Fedorovo Resources

A feasibility study of permanent exploratory standards and reserves estimation are vital to tapping into a deposit. Their approval by the State Commission for Mineral Reserves concludes the exploration of the deposit, which is then considered ready for commercial development. At this point, it will be possible to start drafting design documents to build a mining and metallurgical facility at Fedorova Tundra.

In the near future, Fedorovo Resources plans to send an official notice of the beginning of an environmental impact assessment to state and local authorities and commence a detailed study of the project’s environmental, ethnographic and social aspects. The assessment will be conducted jointly by two major global EPCM contractors, Fluor Corporation and Golder Associates.

Fedorovo Resources, the operator of Fedorova Tundra, is committed to ensuring full compliance with the Russian laws at every stage of the project and follows the world’s best practices and standards for sustainable management of natural resources and stakeholder engagement.

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