Garrison International acquires Nallaa coal-uranium prospect in Mongolia
TORONTO - Junior gold and mineral explorer Garrison International Limited (TSXV:GAU) has acquired the Nallaa coal and uranium prospect in Mongolia.
The Toronto-headquartered company said Thursday the property covers an area of 73 square kilometres in the Dundgobi region of central Mongolia, which is a known coal basin with additional possible uranium deposits.
The property was acquired through the US$22,000 purchase of Dehroy Financial Advisory LLC , a Mongolian company that holds the exploration licence for the prospect.
"Previous Russian explorers had developed several small mining pits in this area and bulk samples were sent to Russia for analysis," said Blair Krueger, president of Garrison, a company listed on the TSX Venture Exchange.
"While this data is not currently available, the sites do provide guidance as to the presence of uranium bearing horizons."
In trading on the TSX Venture Exchange, Garrison shares fell half a cent to four cents, a drop of 11 per cent.
The Toronto-headquartered company said Thursday the property covers an area of 73 square kilometres in the Dundgobi region of central Mongolia, which is a known coal basin with additional possible uranium deposits.
The property was acquired through the US$22,000 purchase of Dehroy Financial Advisory LLC , a Mongolian company that holds the exploration licence for the prospect.
"Previous Russian explorers had developed several small mining pits in this area and bulk samples were sent to Russia for analysis," said Blair Krueger, president of Garrison, a company listed on the TSX Venture Exchange.
"While this data is not currently available, the sites do provide guidance as to the presence of uranium bearing horizons."
In trading on the TSX Venture Exchange, Garrison shares fell half a cent to four cents, a drop of 11 per cent.
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