Turkish mining company CoreX Holding plans to increase explored resources at the Manka gold deposit in East Kazakhstan from 195,000 ounces to more than 400,000 ounces of gold, according to the company’s annual report cited by qazba.kz.
The company plans to begin mining operations at the deposit in 2026 and targets annual production of up to 187,000 ounces of gold.
Exploration program expands resource estimates
In its annual report, CoreX Holding said it completed a comprehensive underground drilling program to define reserves and estimate resources at the Manka deposit.
In addition to the 3,000 meters of drilling completed after acquiring exploration rights, the company drilled 10 additional holes totaling 2,000 meters in 2025. As a result, approximately 340,000 ounces, or 10.6 metric tons, of potential resources have been identified.
During the first phase of exploration, adits were cleared and reserves totaling 195,000 ounces, (6.1 tons) were confirmed.
Mining scheduled to begin in 2026
The company plans to use underground mining methods, including sublevel stoping and cut-and-fill mining. Production is scheduled to begin in 2026, with mining operations expected to continue for nine years.
Planned annual output is projected at 187,000 ounces (5.8 tons) of gold.
In 2026, CoreX Holding plans to launch a second phase of exploration that will include 6,000 meters of additional drilling. The company expects the program to increase total project resources to more than 400,000 ounces (11.3 tons) of gold.
Deposit has century-long history
Notably, the Manka deposit, located near the borders of Russia, Mongolia and China, was discovered in 1925.
The Manka, Sekushaya, Sheelitovaya, Parallelnaya and Gortsekhovskaya veins were mined until 1954. During that period, miners extracted 300,000 tons of ore and 3.6 tons of gold, with an average grade of 12.24 grams of gold per ton of ore.
Other assets in Kazakhstan
In addition to the Manka project, CoreX Holding’s assets in Kazakhstan include Voskhod Chrome, which mines and processes chrome ore in the Aktobe region; Altay Polymetals, which operates in the Karaganda region; and Qazaq Soda, a planned soda ash plant in Taraz.
