Lugansk Gold Ltd is a subsidiary of Australian mining and exploration company Korab Resources Limited. It operates Bobrikovo gold and silver mine located in eastern Ukraine. Bobrikovo has a JORC Code compliant resource of 1,012,000 ounces of gold. Approximately 500,000 ounces are in measured and indicated categories. Bobrikovo deposit also contains silver as a accompanying metal. The average silver content is 45.2 g/t, however in some parts of the deposit grade reaches over 400 g/t Ag. Silver resource has been estimated at between 12,250,000 and 14,500,000 ounces. It should be noted that silver credits have not been included in the previous economic assessments of Bobrikovo deposit. Inclusion of the silver credits further enhances the economics of this project. In addition to the JORC code resource base of over 1 million ounces of gold, Bobrikovo has an exploration target containing additional 1.3-2 million ounces of gold.

Bobrikovo mine is being managed and operated by a team of mining engineers, metallurgists, and geologists with long term experience in bringing to production and running similar projects in Eastern Europe, Russia and Asia.

Bobrikovo mine is located in the Lugansk Region within Nagolny Ridge. Nagolny Ridge is part of a large intra-continental Phanerozoic structure that extends from southern Europe east to Central Asia. This structure hosts several world-class gold mining operations including Muruntau, Vysokovoltnoe, and Bakirchic. The tenor and style of mineralisation at Bobrikovo is similar to 170 million ounce gold deposit at Muruntau in Uzbekistan and to 57 million ounce Sukhoi Log deposit in Russia. Other deposit anonalogues to Bobrikovo are gold deposits at Goldenville field in Nova Scotia, Canada.