Berkh Uul JSC (mse:BEU) Completes 1,700 Meter Drilling Program
ULAANBAATAR, MONGOLIA, Jan 19, 2012 (MARKETWIRE via COMTEX) -- Berkh Uul JSC (mse:BEU) is pleased to announce the successful completion of its 1,700 meter drilling program at the Delgerkhaan fluorspar deposit. The goal of the drilling program was to verify prior drilling data, enabling the registration of reserves with Mongolian authorities at MRAM. The drilling data will also be used to prepare a NI 43-101 compliant resource report.
The drilling has intersected the previous veins established by the historic data, which was based on drilling by Russians in the 1960s. MRAM compliant resource report will be prepared by a local consulting company, while an Australian-based mining consultant, Micromine, has been engaged to prepare the NI 43-101 report. Management anticipates that the report will produce a resource estimate in line with the historical drilling.
Berkh Uul JSC (mse:BEU) is a diversified Mongolian mining and exploration company listed on the Mongolian Stock Exchange and is one of the companies used to calculate the MSE Top 20 Index. Berkh Uul JSC's primary asset is the Delgerkhaan fluorspar deposit. Berkh Uul JSC is controlled by funds managed by affiliates of Firebird Management LLC, a New York-based private equity and hedge fund management company. Contacts: Mendsaikhan Bold CEO +976 99053048 mendsaikhanb@berkhuul.com Benjamin Coats CFO +976 99053048 bcoats@berkhuul.com www.berkuul.mn
SOURCE: Berkh Uul JSC mailto:mendsaikhanb@berkhuul.com mailto:bcoats@berkhuul.com http://www.berkuul.mn
Copyright 2012 Marketwire, Inc., All rights reserved.
The drilling has intersected the previous veins established by the historic data, which was based on drilling by Russians in the 1960s. MRAM compliant resource report will be prepared by a local consulting company, while an Australian-based mining consultant, Micromine, has been engaged to prepare the NI 43-101 report. Management anticipates that the report will produce a resource estimate in line with the historical drilling.
Berkh Uul JSC (mse:BEU) is a diversified Mongolian mining and exploration company listed on the Mongolian Stock Exchange and is one of the companies used to calculate the MSE Top 20 Index. Berkh Uul JSC's primary asset is the Delgerkhaan fluorspar deposit. Berkh Uul JSC is controlled by funds managed by affiliates of Firebird Management LLC, a New York-based private equity and hedge fund management company. Contacts: Mendsaikhan Bold CEO +976 99053048 mendsaikhanb@berkhuul.com Benjamin Coats CFO +976 99053048 bcoats@berkhuul.com www.berkuul.mn
SOURCE: Berkh Uul JSC mailto:mendsaikhanb@berkhuul.com mailto:bcoats@berkhuul.com http://www.berkuul.mn
Copyright 2012 Marketwire, Inc., All rights reserved.
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