Moscow, Feb 22 (RIA Novosti) Russia's largest gold producer Polyus Gold announced Thursday it would start developing alluvial gold fields in East Siberia's Irkutsk region.

Polyus Gold's subsidiary Lenzoloto was declared the winner of the tenders to develop five alluvial gold deposits in the Bodaibo area of the Irkutsk region, with total reserves of 1.3 metric tonnes of gold, the company said in a statement.

"The expansion of the company's mineral base is an integral part of the programme, which Polyus Gold is implementing to build up alluvial gold production," Yevgeny Ivanov, Polyus's general director said.

The company's alluvial gold output increased from 5.3 metric tons in 2006 to 5.6 metric tons in 2007, the company said in a statement.

Alluvial gold is deposited in soil or sediments in a river, stream or other running water.

IANS