News briefs

  • Erdene Resource Development Corp. has announced that it has completed a review and interpretation of previous drilling results and designed the next phase of the programme atAltan Nar. This is expected to be under way by the first week of April. Erdene discovered the Altan Nar gold-silver prospect in 2011 during a regional exploration programme on its tenement blocks, covering approximately 200,000 hectares in southwestern Mongolia.
  • Altan Rio Minerals Limited has announced that the first drilling campaign at the Khavchuu gold exploration project covering 7.14 km2 in TovAimagbegan in early March with two diamond core drills, and will be finished in about a month. The company currently has an option to acquire 100% interest in the project that contains significant geophysical and gold-arsenic geochemical anomalies in a Boroo mine type orogenic gold setting and has never been drilled.
  • Haranga Resources has expanded the area and depth of iron mineralisation hosted within the Banded Magnetite Skarn formation at the Bayantsogt prospect of its Selenge Iron Ore Project. This follows the receipt of the final set of assay results from its 2011 Bayantsogt drill program, where 31 of the 35 drill holes intersected significant widths of iron mineralisation.
  • Mongolian Resource Corp. is awaiting grant of a cyanide use licence to begin operations of a 100-ton-per-day stage I flotation plant at its project in central north Mongolia. The company expects to begin treating its stockpiles of gold ore in early April 2012 when temperatures rise to above -10 degrees Celsius.  
  • Undur Tolgoi Minerals has reviewed and approved an exploration programme for its property under a wholly owned licence on approximately 9,260 hectares of land located some 100 km from Oyu Tolgoi. As the geological setting of the two appears to be similar, the aim of the work programme is to identify any base metals and/or gold anomalies
  • Erdene Resource Development Corp. has said final assay results from a 20-hole scout drill programme at its 100% owned Altan Nar property in southwest Mongolia “has demonstrated it hosts widespread gold mineralisation including wide, near-surface zones potentially conducive to bulk mining, coupled with zones of higher grade mineralisation that appear to become more substantial at depth.”
  • Mongolian Alt Company, better known as MAK, will construct a liquid fuel plant near the Aduunchuluun coal deposit in Bayantumensoum, Dornodaimag. According to a company spokesman, the $2-billion plant will have an annual capacity of 400,000 tons.
  • The BaruunNaran Coking Coal Mine of the Mongolian Mining Corporation was successfully commissioned by the State Commission comprising specialists from various government agencies on 1 February. Khangad Exploration LLC, an indirect wholly-owned subsidiary of the company, is the registered holder of the mining licence, which covers an area of approximately 4,482 hectares and is valid for an initial period of 30 years from 1 December 2008.
  • Xanadu Mines Ltd has announced the finalisation of a farm-in agreement on the extensive Amgalant and ArgalantUul porphyry copper-gold exploration licences, under the terms of which it can earn up to 80% of thelicences by meeting various spending commitments over twoyears. Both licences are located in the South Gobi region, in the central part of the highly prospective South Gobi porphyry belt.
  • SouthGobi Resources has said the 2011 sales and production levels represent significant achievements for the company. SouthGobi completed the fourth quarter of 2011 in line with its guidance in terms of coal sales and production. It sold approximately 1.15 million tonnes of coal during the quarter, resulting in full-year 2011 sales of 4.02 million tonnes against 2.54 million tonnes sold in 2010, an increase of approximately 58%.
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