Xanadu Mines delivers maiden coal Resource of 170Mt at Galshar in Mongolia
Xanadu Mines’ (ASX: XAM) wholly owned Galshar Coal Project in the Dornogovi Province of Eastern Mongolia has an initial JORC Indicated and Inferred Resource of 170 million tonnes of coal.
Independent geological consultants McElroy Bryan Geological Services has estimated an Indicated JORC Resource of 70 million tonnes and an Inferred JORC Resource of 100 million tonnes, all of which are at depths of less than 120 metres.
The Galshar Coal Project comprises three contiguous exploration licences covering more than 131 square kilometres (13,152 hectares) in the Choir-Nyalga Coal Basin.
The project is strategically located within 65 kilometres of a rail spur at the Bor Undor fluorite mine, which connects to the Trans Mongolian Rail system to China.
The new Resource at Galshar, combined with Xanadu’s Khar Tarvaga thermal coal project, represents a 51% increase in the company’s JORC coal Resource inventory to 497 million tonnes.
Last week Xanadu was granted mining licence MV16871 for the Khar Tarvaga Coal Project by the Mineral Authority of Mongolia, covering a total area of 83.5 square kilometres (8,350 hectares).
The licence is for an initial term of 30 years with an option for two 20 year extensions, providing for a total of 70 years of mining operations. The company intends to further evaluate the development potential for coal to liquids and synthetic natural gas.
Independent geological consultants McElroy Bryan Geological Services has estimated an Indicated JORC Resource of 70 million tonnes and an Inferred JORC Resource of 100 million tonnes, all of which are at depths of less than 120 metres.
The Galshar Coal Project comprises three contiguous exploration licences covering more than 131 square kilometres (13,152 hectares) in the Choir-Nyalga Coal Basin.
The project is strategically located within 65 kilometres of a rail spur at the Bor Undor fluorite mine, which connects to the Trans Mongolian Rail system to China.
The new Resource at Galshar, combined with Xanadu’s Khar Tarvaga thermal coal project, represents a 51% increase in the company’s JORC coal Resource inventory to 497 million tonnes.
Last week Xanadu was granted mining licence MV16871 for the Khar Tarvaga Coal Project by the Mineral Authority of Mongolia, covering a total area of 83.5 square kilometres (8,350 hectares).
The licence is for an initial term of 30 years with an option for two 20 year extensions, providing for a total of 70 years of mining operations. The company intends to further evaluate the development potential for coal to liquids and synthetic natural gas.
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