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Hunnu Coal in milestone initial JORC coal resource of 324Mt in Mongolia
Mogi: HUN hit A$1.395 on the announcement. A new historical high.
December 3 (Proactive Investors) Mongolian-focused Hunnu Coal (ASX:HUN) has reported an initial JORC measured, indicated and inferred resource estimate of 324 million tonnes to a depth of 140 metres for the new Har Toirom coal discovery, which is located adjacent to the Unst Khudag Coal Deposit in Mongolia.
In a milestone for Hunnu Coal, today's resource announcement is a significant boost to the company's aim of becoming a major force in the exploration and development of coking and thermal coal deposits in the world class South Gobi and Middle Gobi Coal Provinces.
226 million tonnes is classified as measured and indicated and the estimate is based on approximately 30% of Har Toirom available data.
The independent report has been prepared by Green Exploration & Mining Services Pty Ltd (GEMS) and reviewed by Xstract Group.
Further upgrades to the Har Toirom JORC resource model are expected in early 2011.
Resource modelling is now progressing on the Unst Khudag Coal Deposit, which will be released in the coming weeks.
A total of 209 drill holes have now been completed on the Unst Khudag Coal Project. This has resulted in a total of 17,435m of drilling, including 8,877m of drill core.
The company is negotiating off-take agreements with potential buyers for Unst Khudag Project coal.
The discussions on construction of a power plant on site are progressing positively, with identification of a suitable consultant to undertake a feasibility study.
Transportation and logistics studies for delivering Unst Khudag coal to the Mongolian Chinese border are at an advanced level.
Exploration has located a number of thick, shallow coal seams with an average calorific value of 6,784 kcal/kg dry ash free (daf), which are available for potential economic open cut extraction and sale as a thermal coal product.
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"Mogi" Munkhdul Badral
Executive Director
CPS International LLC
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
Suite 906, Central Tower
Sukhbaatar District, Ulaanbaatar
Mongolia
CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.
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