[cpsinewswire] [CPSI NewsAlert: Hunnu Upgrades Tsant Uul JORC Resource by 85%, Altai Nuurs Initial JORC Estimation Underway]

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Hunnu Coal upgrades JORC resources at Tsant Uul by 85%

July 21 (Fortbridge) Hunnu Coal (ASX: HUN) has upgraded its JORC reportable resource estimate for the Tsant Uul Coal Project (Mongolia) by 85%.

Highlights:

·         85% increase to JORC Coal Resource at Tsant Uul

·         JORC reported Coal Resource of 167.1Mt

·         93.8Mt classified as Measured (40.9Mt) and Indicated (52.9Mt).

·         Further upgrades to the JORC reported Coal Resource model expected in the latter half of 2011 with additional drilling completed and underway.

·         The Tsant Uul Project mining license has been granted for an initial term of 30 years with an option for twenty years extension twice, providing a total of 70 years of mining operations.

·         The Company is in advanced discussions for off-take with potential future buyers of Tsant Uul Project coal.

·         Targeting commencement of mining in the last quarter of 2011.

·         Targeting initial production of 1.5Mt of coal in 2012 and 3Mt in 2013.

·         Owner operator mining fleet currently being purchased with initial purchases including six CAT 773 Dump Trucks and a Hitachi 1200 excavator. Additional purchases underway.

·         Hunnu Coal now has Total JORC Resources across its projects of 843Mt.

·         Initial JORC Coal Resource currently being estimated for the Altai Nuurs Premium Hard Coking Coal Project. Altai Nuurs has an Exploration Target* of 250Mt to 500Mt.

Link to article

Link to full HUN release

 

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"Mogi" Munkhdul Badral

Executive Director

CPS International LLC

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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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