Modun Resources inks 489Mt maiden JORC thermal coal Resource in Mongolia
Modun Resources (ASX: MOU) has achieved a significant maiden JORC coal Resource of 489 million tonnes for its wholly-owned Nuurst Project in central Mongolia.
The Resource, compiled by consultancy CSA Global, exceeds initial expectations and provides potential for a large scale thermal coal mine. The Resource has been defined within six months of Modun acquiring Nuurst.
Modun now has one of the largest tonnage coal resources of the ASX-listed companies currently operating in Mongolia and the company believes it has a substantial project on just 16% of the licence area so far assessed.
The company will immediately commence a Scoping Study and application for mining licence.
A total of 417 million tonnes is in the Indicated category and 72 million tonnes is Inferred.
The 2012 exploration program at the project will target a further coal resource with 84% of the licence under-explored.
Importantly, Nuurst is located six kilometres from existing rail infrastructure, only 120 kilometres south of Mongolia's capital Ulaanbaatar and comprises a 34.5 square kilometre licence area.
Modun said the Project’s significant resource and coal seam thickness (100 metre+ coal sequences) should translate into a low stripping ratio, which lends itself to a large scale, low cost mining operation.
Modelling suggests the resource is open to the north and becomes shallower.
The Resource, compiled by consultancy CSA Global, exceeds initial expectations and provides potential for a large scale thermal coal mine. The Resource has been defined within six months of Modun acquiring Nuurst.
Modun now has one of the largest tonnage coal resources of the ASX-listed companies currently operating in Mongolia and the company believes it has a substantial project on just 16% of the licence area so far assessed.
The company will immediately commence a Scoping Study and application for mining licence.
A total of 417 million tonnes is in the Indicated category and 72 million tonnes is Inferred.
The 2012 exploration program at the project will target a further coal resource with 84% of the licence under-explored.
Importantly, Nuurst is located six kilometres from existing rail infrastructure, only 120 kilometres south of Mongolia's capital Ulaanbaatar and comprises a 34.5 square kilometre licence area.
Modun said the Project’s significant resource and coal seam thickness (100 metre+ coal sequences) should translate into a low stripping ratio, which lends itself to a large scale, low cost mining operation.
Modelling suggests the resource is open to the north and becomes shallower.
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