Monday, March 19, 2012

[CPSI NewsAlert: Haranga Announces Maiden JORC of 32.8Mt at Bayantsogt, Exploration Target of 120-250Mt on Dund Bulag]

CPSI NewsWire brings you market updates on Mongolia, compiled by CPS International, a Mongolian marketing arm of CPS Securities, a Perth, WA based stockbroking and corporate advisory firm, specialising in capital raising for mining and junior stocks.

Follow CPSI NewsWire on Twitter, Facebook


HAR rose 10.4% on Friday to 53c, opened at 53.5c today, trading 51c at time of writing

First Mineral Resource for the Selenge Iron Ore Project

March 19, Haranga Resources Limited  (ASX:HAR) --

Maiden Resource and Exploration Target represent major milestones for Haranga Resources Limited.

• An initial JORC Code compliant resource has been defined at Bayantsogt, one of four primary iron ore targets within the Company’s Selenge project area in Mongolia.

• The total inferred resource is 32.8Mt of iron ore at an average grade of 24.4% Fe based on a 15% Fe cutoff grade.

 JORC Code (2004) Inferred Resource for Bayantsogt

Cutoff Grade

(% Fe)



Average Grade

(% Fe)

15% Cutoff 


24.4% Fe

25% Cutoff 


32.4% Fe

• This initial resource is based only on the first pass 35 hole drill program at Bayantsogt in 2011.

Mineralisation remains open in all directions and at depth and the recently discovered high grade zone remains to be properly tested.

• It is expected that further drilling will expand the resource and upgrade the resource classification

An Exploration Target* of 120 to 250Mt of iron ore has been estimated for Dund Bulag, another of the Selenge targets.

• A metallurgical test program is underway, feeding into a Preliminary Scoping Study due mid 2012.

Mining Licence application process to commence shortly.

Link to release



"Mogi" Munkhdul Badral

Senior Client Manager / Executive Director

CPS International LLC

Telephone/Fax: +976-11-321326

Mobile: +976-99996779


P Please consider the environment before printing a copy of this email.


Suite 1213 · Level 12 · 2 Sukhbaatar Square

Sukhbaatar District 8 · Ulaanbaatar 14200 · Mongolia


CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSLicense Holder. To trade ASX and international stocks, feel free to contact me at or +976-99996779.



CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.

CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.




No comments:

Post a Comment