CoreX Holding, a Turkish mining company, is advancing plans to expand the Manka gold deposit in East Kazakhstan. The company’s latest annual report states that it intends to increase estimated resources from about 195,000 ounces of gold to more than 400,000 ounces. CoreX also targets the start of mining operations in 2026, with annual output expected to reach up to 187,000 ounces of gold.
Resource expansion targets at the Manka project
CoreX says it has invested in exploration work since acquiring rights to the Manka project. After the acquisition, the company completed an initial underground drilling program of approximately 3,000 meters. In 2025, it expanded the campaign by drilling an additional 10 exploration holes totaling 2,000 meters.
The company reports that exploration identified about 340,000 ounces of potential gold resources, equivalent to roughly 10.6 metric tons of gold. Earlier work included rehabilitation and clearing of historic underground workings, including old adits providing access to mineralized zones. CoreX states that these activities supported confirmation of approximately 195,000 ounces of gold reserves, or around 6.1 metric tons of contained metal.
Second phase drilling scheduled for 2026
CoreX has outlined a second exploration phase beginning in 2026. The plan includes an additional 6,000 meters of drilling at the project. Management believes the expanded program could increase total project resources beyond 400,000 ounces of gold, or approximately 11.3 metric tons.
The company’s approach is based on its view of the geological potential within the Manka district and its aim to develop the deposit as a long-term mining operation. CoreX also indicates that success would support future production growth and could extend mine life beyond current expectations.
Planned underground mining methods and production profile
With exploration results continuing to improve, CoreX is preparing for a transition toward production. Mining operations are scheduled to begin in 2026, using modern underground methods intended to maximize recovery and maintain operational efficiency. The company plans to use a combination of sublevel stoping and cut-and-fill mining.
CoreX’s current plan envisages a mine life of approximately nine years. During that period, annual production could reach up to 187,000 ounces of gold, equivalent to about 5.8 metric tons per year.
Historic production at the Manka deposit
The Manka deposit has been mined historically and was first discovered in 1925. CoreX reports that the deposit lies near borders with Russia, Mongolia and China and attracted attention due to high-grade gold mineralization. Historical operations focused on several productive veins including Manka, Sekushaya, Sheelitovaya, Parallelnaya and Gortsekhovskaya.
Mining continued until 1954, when operators extracted about 300,000 tons of ore and recovered around 3.6 metric tons of gold. CoreX also cites an average historical ore grade of approximately 12.24 grams of gold per ton of ore.
Kazakhstan investment context for new gold development
CoreX links its project development to a broader trend of increasing international investment in Kazakhstan’s mining sector. The company states that Kazakhstan continues attracting global mining companies due to mineral wealth, geological conditions and ongoing resource development focus.
For CoreX Holding, the combination of historical production data and recent exploration results supports its view that Manka is among its most promising growth projects. As further drilling continues and mine construction progresses toward the planned 2026 start, CoreX says the deposit is positioned as a potential new gold producer in Central Asia.
