A significant new chapter is unfolding for Kazakhstan’s mining industry as Turkish mining company CoreX Holding moves forward with ambitious plans to expand the Manka gold deposit in East Kazakhstan. The company aims to more than double the project’s identified gold resources, transforming the historic deposit into a substantial new source of precious metal production in Central Asia.
According to information released in the company’s latest annual report, CoreX plans to increase estimated resources at Manka from approximately 195,000 ounces of gold to more than 400,000 ounces, strengthening the project’s long-term economic potential and positioning it as an important emerging gold-deposit in the region. The company also intends to commence mining operations in 2026, with annual production expected to reach as much as 187,000 ounces of gold, further enhancing Kazakhstan’s status as a major mining destination.
Intensive Exploration Program Delivers Significant Resource Growth
CoreX Holding has invested heavily in exploration activities since acquiring rights to the Manka project. The company completed an extensive underground drilling campaign designed to better define mineral reserves and expand the understanding of the deposit’s geological potential.
Following the acquisition, CoreX initially completed approximately 3,000 meters of drilling, laying the foundation for a comprehensive resource evaluation program. During 2025, the company accelerated exploration efforts by drilling an additional 10 exploration holes totaling 2,000 meters. The results have been highly encouraging. According to the company, exploration work has identified approximately 340,000 ounces of potential gold resources, equivalent to roughly 10.6 metric tons of gold.
Earlier exploration stages focused on rehabilitating and clearing historic underground workings, including old adits that provided access to mineralized zones. These activities enabled the confirmation of approximately 195,000 ounces of gold reserves, representing around 6.1 metric tons of contained metal. The latest findings suggest substantial upside potential remains within the project area, supporting the company’s decision to expand drilling activities further.
Second Exploration Phase Aims to Surpass 400,000 Ounces
CoreX is not stopping with the current resource estimate. The company has already outlined a second exploration phase scheduled to begin in 2026, which will include an additional 6,000 meters of drilling.
Management believes this expanded exploration campaign could significantly increase the overall size of the deposit, pushing total project resources beyond 400,000 ounces of gold, or approximately 11.3 metric tons.
The aggressive drilling strategy reflects growing confidence in the geological potential of the Manka district and highlights the company’s commitment to developing the project into a long-term mining operation. If successful, the expanded resource base could support future production growth and potentially extend the mine’s operating life beyond current expectations.
Underground Mining Operations Planned for 2026
With exploration results continuing to improve, CoreX is preparing to transition the project into the production phase. Mining operations are scheduled to begin in 2026, utilizing modern underground mining methods designed to maximize resource recovery while maintaining operational efficiency.
The company plans to employ a combination of sublevel stoping and cut-and-fill mining, two widely used underground extraction techniques that are particularly effective in narrow-vein gold deposits.
Current plans envision a mine life of approximately nine years, during which annual production could reach up to 187,000 ounces of gold, equivalent to roughly 5.8 metric tons per year. Such output would establish Manka as a significant contributor to Kazakhstan’s growing precious metals sector and create new opportunities for regional economic development.
A Historic Gold Deposit with a Century of Mining Heritage
The Manka deposit is not a newly discovered resource. Its history dates back nearly a century, underscoring its long-standing importance within the region’s mining landscape. Located in a strategically important area near the borders of Russia, Mongolia, and China, the deposit was first discovered in 1925 and quickly attracted attention due to its high-grade gold mineralization.
Historical mining operations focused on several productive veins, including Manka, Sekushaya, Sheelitovaya, Parallelnaya, and Gortsekhovskaya.
Mining activities continued until 1954, during which operators extracted approximately 300,000 tons of ore and recovered around 3.6 metric tons of gold. Perhaps most impressive was the ore grade achieved during historical production. Average grades reached approximately 12.24 grams of gold per ton of ore, a figure that remains highly attractive by modern mining standards and highlights the exceptional quality of the mineralization.
Kazakhstan Continues to Attract International Mining Investment
The development of the Manka project reflects a broader trend of increasing international investment in Kazakhstan’s mining sector. The country continues to attract global mining companies due to its extensive mineral wealth, favorable geological conditions, and growing focus on resource development.
For CoreX Holding, the combination of strong historical production data, encouraging exploration results, and substantial expansion potential makes Manka one of its most promising growth projects.
As additional drilling programs move forward and mine construction activities advance toward the planned 2026 startup, the Manka deposit is emerging as a potentially important new gold producer in Central Asia. If exploration targets are achieved, the project could become a standout example of how modern exploration and mining technologies can unlock additional value from historic mineral districts while contributing to the long-term growth of the global gold mining industry.
