Polymetal International PLC on Friday, April 29 detailed the mineral resource estimate for its Lichkvaz project in Armenia following an audit by CSA Global Pty Ltd, London South East said.

Total underground mineral resources comprised 4.3 million tons of ore, averaging 4.2 grams per ton for 0.6 million ounces of gold equivalent, Polymetal said.

Next, the company plans to undertake "significant additional drilling" at the project with the objective of producing a Joint Ore Reserves Committee compliant ore reserve estimate and combined life-of-mine plan for Lichkvaz and the Kapan concentrator in the third quarter of 2017.