November 3, 2011 on: Mining

Aspire Mining continues to focus on development of its Ovoot coking coal project, said the firm in its quarterly reports. At the site the firm uncovered a new coal seam formation four kilometers north east of operations.

The drilling strategy for this new discovery will initially focus on following the coal seams to the south, where seam thickness would be expected to increase. Next, explorers will determine how close this coal comes to the surface and also test whether these coal seams connect to the existing Ovoot resource. The company's secondary focus is its Hurimt prospect. The company aims to determine the extent of the coal further into the Ovoot Basin. With less than 20 percent of the Ovoot Basin drilled thus far, the company has now discovered coal in two locations within the basin. Exploration activities uncovered additional targets at Hurimt and Zuun Del within the Ovoot Basin. The company plans to bring greater attention to these prospects in its 2011-2012 exploration program. Aspire has completed initial reconnaissance drilling at its Jilchigbulag coal project. It has drilled 11 holes, totaling 3,000 meters. The company submitted coal samples taken from this program for analysis, but results are still pending. Studies indicate a relatively low mining cost of USD 20 per ton with a further USD 3 per tons for crushing and handling of the resources. The washing plant would add approximately USD 5 per ton to operating costs, but would produce a higher quality product. Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.

SOURCE OF THIS ARTICLE : Business Council of Mongolia

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