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.
Wish to subscribe or unsubscribe? Let me know.
FURTHER SIGNIFICANT COAL INTERSECTIONS IN MONGOLIA
July 4, Guildford Coal Limited (ASX:GUF) --
FURTHER SIGNIFICANT INTERSECTIONS ON SOUTH GOBI COAL PROJECT
Ø Following on from the previously reported coal outcrop mapping and coal intersections at potentially open cut minable depths in EL13780X on the South Gobi Project, Stage 2 drilling has commenced to quantify coal tonnages and qualities according to the JORC Code and to prepare a Mining License application.
Ø Drilling on the adjacent tenement EL5264X have intersected approximately 21 metres apparent thickness of net coal at potentially open cut mineable depths. This included a seam of 13.7 metres (apparent thickness) in the Permian Deliin Shand Formation which is known to have potential for coking properties. The intersection thicknesses are to be confirmed by geophysical logging at the completion of drilling.
EXPLORATION TARGET DEVELOPED ON MIDDLE GOBI COAL PROJECT
Ø An Exploration Target* range of 29Mt to 149 Mt has been estimated for the Middle Gobi Project; the coal is likely to suit thermal markets and is potentially amenable to open cut mining methods. Geologists believe that there is additional upside potential for further drilling to increase this exploration target tonnage range.
Ø This Exploration Target* range is based on 4km of mapped coal outcrop combined with multiple coal seams encountered in both historic and recent exploration boreholes drilled. The intersections are to be confirmed by geophysics and include net coal thicknesses of up to 9.2 metres in boreholes.
TOTAL EXPLORATION TARGET FOR MONGOLIAN COAL TENEMENTS
Ø The Exploration Target* for the Middle Gobi Project brings the total Exploration Target Range* for Guildford’s Mongolian subsidiary to 29 Mt to 609 Mt which is made up of 0 to 460 Mt for the South Gobi Project and 29 Mt to 149 Mt for the Middle Gobi Project.
HUGHENDEN COAL PROJECT DRILLING PROGRESS
Ø Following on from the recently reported drilling that intersected significant coal seams in borehole H005C with an interpreted 11.9 metres of net coal from the Betts Creek Beds with multiple individual seams up to 5.5 metres in thickness.
Ø Drilling has progressed slower than expected on subsequent holes due to difficult drilling conditions in the overlying Triassic sandstones, however it is anticipated that Permian Betts Creek coal seams will soon be cored on the current hole. A second hole has been pre-collared to just above the interpreted position of the Permian Betts Creek coal seams also in preparation for coring.
Ø The Exploration Target* range for this region will be released once the results of the current drilling are incorporated into the geological model. The planned pattern of holes is also expected to deliver a significant JORC inferred resource once completed.
Ø An Exploration Target* for the Hughenden White Mountain Project of 40 to 815 Mt of Galilee Basin thermal coal for the combined EPC1250 and EPC1260 has already been developed.
…
---
"Mogi" Munkhdul Badral
Senior Client Manager / Executive Director
CPS International LLC
Telephone/Fax: +976-11-321326
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
P Please consider the environment before printing a copy of this email.
Central Tower · 12th Floor · Left Wing · 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 AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.
Disclosure/Disclaimer
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