Peschanka CuAuMo Porphyry Deposit, Chukotka, Russia

Introduction Located in Russia’s Chukotka Autonomous Region near the Arctic circle and 425km from the seasonal port of Pevek (population approximately 4600), Peschanka (or ‘Anyui’) is perhaps the world’s most isolated CuMoAu porphyry deposit of significant grade and tonnage. In addition to its extreme remoteness (66°36'N/164°30'E) and lack of developed infrastructure, Peschanka is located in one of the world’s coldest regions, with annual average temperatures well below freezing. Soviet exploration up to 1985 defined four zones with inferred resources of roughly 940Mt @ 0.51% Cu, 0.42 g/t Au, 1.4 g/t Ag and 0.019% Mo (1).