GTSO Core Drilling Team At Avdrant Mine In The Bayandelger Soum Of Mongolia's Tuv Province
Green Technology Solutions, Inc. (OTCQB:GTSO) announced today that cores drilling and sample collection have been completed by an independent geologist on the 17,000 acres GTSO is seeking to help develop in Mongolia. Core samples will be sent to the KORES laboratory in South Korea for mineral analysis to confirm concentrations of rare earth elements.
The samples were collected by a team led by Senior Ph.D. Geologist T.S. Bilgee of the Mongolian University Geological Sciences Department. Each core sample will be tested by South Korean state-run resource development company KORES to determine the commercial viability of rare earth mining operations on the property.
Rare earths are crucial to South Korea’s electronics, medical and automotive industries as well as emerging green-energy technologies such as wind turbine generators, electric car batteries and photovoltaic solar panels.
GTSO President and CEO John Shearer said this week that the company expects KORES to confirm the presence of rare elements in the ore, laying the foundation for production activities to be commenced in Mongolia.
“Two recent mineral analyses of this site conducted by Thermo Fischer Scientific and SGS for management reported economically viable levels of rare earths in the soil, and we expect KORES’ analysis to confirm the same,” Shearer said. “KORES has an exceptional reputation in South Korea and we’re confident that a positive analysis would confirm the value of this project. We’re receiving inquiries as to the availability of minerals, so we’re very pleased to see real progress toward initiating production.”
In order to capitalize on this export quota reduction, GTSO is working to develop new rare earth mining operations in Mongolia, China’s neighbor to the north. GTSO signed a Profit Participation Agreement (PPA) earlier this year with Mongolian mining and trading company Ar Erkhes, LLC, to facilitate rare earth production at three mining sites in the mineral-rich nation.
The samples were collected by a team led by Senior Ph.D. Geologist T.S. Bilgee of the Mongolian University Geological Sciences Department. Each core sample will be tested by South Korean state-run resource development company KORES to determine the commercial viability of rare earth mining operations on the property.
Rare earths are crucial to South Korea’s electronics, medical and automotive industries as well as emerging green-energy technologies such as wind turbine generators, electric car batteries and photovoltaic solar panels.
GTSO President and CEO John Shearer said this week that the company expects KORES to confirm the presence of rare elements in the ore, laying the foundation for production activities to be commenced in Mongolia.
“Two recent mineral analyses of this site conducted by Thermo Fischer Scientific and SGS for management reported economically viable levels of rare earths in the soil, and we expect KORES’ analysis to confirm the same,” Shearer said. “KORES has an exceptional reputation in South Korea and we’re confident that a positive analysis would confirm the value of this project. We’re receiving inquiries as to the availability of minerals, so we’re very pleased to see real progress toward initiating production.”
In order to capitalize on this export quota reduction, GTSO is working to develop new rare earth mining operations in Mongolia, China’s neighbor to the north. GTSO signed a Profit Participation Agreement (PPA) earlier this year with Mongolian mining and trading company Ar Erkhes, LLC, to facilitate rare earth production at three mining sites in the mineral-rich nation.
Comments
Post a Comment