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Aspire Mining and Noble look to Nuurstei for early coal exploration

Trans. by B.MENDBAYAR

Aspire Mining Limited has announced that the Ekhgoviin Chuluu Joint Venture (ECJV), a joint venture between Aspire and Noble Group, is starting an exploration drilling program at Nuurstei coal mine.
With a budget of 500,000 USD, the 20-hole drilling program will target the northern part of the Nuurstei Project tenement area and will consist initially of 20 holes at an average of 100 meters in depth. This program is designed to confirm resource continuity to enable preliminary economic assessment, as well as provide samples for testing. Results from the drilling program will be used to prepare a pre-feasibility study, which will allow for the grant of a mining license, and for the completion of a general environmental impact assessment. Drilling will begin in August and is expected to be completed by the end of September 2014, with laboratory analysis expected to be received in the December quarter.
Nuurstei is located about 10 kilometers to the southwest of Moron soum, the capital of Khuvsgul aimag. A paved road is currently being constructed between Moron and Erdenet. Coal produced at the Nuurstei Project could be transported along this road to Erdenet where product could then be loaded onto trains and delivered to customers. Land purchased in Erdenet by Aspire in 2012 could be used as a coal stockpile and train load-out area.
Aspire says that preliminary indications are that coal from Nuurstei could be a useful blending partner for its wholly owned Ovoot Project coking coal, and there would be a number of other operational and marketing synergies between the two operations.
Listed on the Australian Securities Exchange, Aspire Mining Limited acquired a 50 percent interest in the Ekhgoviin Chuluu Joint Venture (ECJV) in June. The remaining 50 percent of ECJV is owned by the Noble Group, listed on the Singapore Stock Exchange. ECJV currently holds a 60 percent interest in the Nuurstei Project, which could be increased to 90 percent upon achievement of certain development milestones.

Short URL: http://ubpost.mongolnews.mn/?p=11063

Posted by on Aug 3 2014. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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