December 4, 2011 on: Mining

Modun Resources has achieved a significant maiden JORC coal Resource of 489 million tonnes for its wholly-owned Nuurst Project in central Mongolia.

Modun now has one of the largest tonnage coal resources of the ASX-listed companies currently operating in Mongolia and the company believes it has a substantial project on just 16% of the licence area so far assessed. The company will immediately commence a Scoping Study and application for mining licence. A total of 417 million tonnes is in the Indicated category and 72 million tonnes is Inferred. The 2012 exploration program at the project will target a further coal resource with 84% of the licence under-explored. Importantly, Nuurst is located six kilometres from existing rail infrastructure, only 120 kilometres south of Mongolia's capital Ulaanbaatar and comprises a 34.5 square kilometre licence area. Modun said the Project’s significant resource and coal seam thickness (100 metre+ coal sequences) should translate into a low stripping ratio, which lends itself to a large scale, low cost mining operation. Modelling suggests the resource is open to the north and becomes shallower. 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 : Proactive investors Australia

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