Xanadu Mines has recently reported that it determined the finding of a gold grain from samples taken at Kharmagtai Copper-Gold Project area that is located in Umnugobi aimag. 12 samples taken from Kharmagtai Deposit sent for additional analysis for determining the location of the gold.

Ongoing test work shows that gold should report to a copper concentrate as free gold inclusion. Xanadu’s chief executive officer Dr Andrew Stewart said, “These above average results, as expected, show that gold occurs as coarse grains in association with principle copper sulphides. While further testing is required as the project advances, we see no significant hurdles to producing a high-quality concentrate via standard processing pathways from the Kharmagtai project. These results allow us to focus on the drilling underway which is expanding the resource and targeting near-surface porphyry copper-gold deposits within this largely under-explored porphyry copper-gold district.”

ASPIRE MINING
ASX-listed Aspire Mining signed a new memorandum of understanding (MoU) with China Gezhouba Group International Engineering Co (CGGC) as part of an official program of 35 new infrastructure agreements between Mongolia and People’s Republic of China during the recent official visit of Mongolian Prime Minister Khurelsukh Ukhnaa to PRC (PRC). Under the MoU, the parties agree that they will continue to work together to finalise a feasibility study on a 550 km-long railway running east from Ovoot to the railway hub town of Erdenet. The company is developing a coking coal deposit at Ovoot.

CGGC, who is 40 percent owned by the Chinese state, last month delivered a draft feasibility study that found it would be financially viable to construct the railway line. A target date of next month has been set to finalize the study.

Mongolia and PRC have an ambition to build a Northern Rail Corridor as part of China’s Belt and Road Initiative to develop trade throughout Eurasia.

“This has helped Aspire pick up heavyweight partners such as CGGC on a railway line east from Ovoot and attract interest from Russia in building a line westwards to the Russian border,” the West Australian, an Australian media outlet noted.

The West Australian reported that Russian rail design group Mosgiprotrans last month signed a deal with Aspire to study the feasibility of running a rail line west from Ovoot to the town of Arts Suuri on the Mongolian-Russian border and then on to the Russian city of Kyzyl.

While the Russian government has yet to declare support for the project, Aspire noted in its latest update that the Russian Ministry for Rail had asked to review the Ovoot to Erdenet proposal.

“The new MoU also confirmed CGGC’s interest in funding pre-development activities for the project, subject to a guarantee the Trans-Mongolian railway, which runs through Erdenet, will have capacity to take Aspire’s coking coal north to markets in Russia and south to the steel mills of China,” The West Australia reported.

As part of the MoU, Northern Railways has committed to enter into a lump sum turnkey EPC contract with CGGC by the end of November 2018. Aspire reported the EPC contract would be subject to funding for the project, which, if available, could allow construction to begin in the Mongolian spring of 2019.

ERDENE RESOURCE DEVELOPMENT CORP
TSX-listed Erdene Resource Development Corp (ERD) has recently announced the commencement of its 2018 Drill Program at its Bayan Khundii Gold Project. According to an official statement issued by ERD’s President and CEO Peter Akerley, it will initially focus on the new North Midfield Zone where late 2017 drilling returned the highest grade gold zone at Bayan Khundii since discovery. In addition, ERD plans to conduct drill testing at the neighbouring Altan Arrow, Khundii North and Ulaan projects later in the second quarter of this year.”

Oyunbayar.N

Published Date:2018-04-18