Volume 9 Edition 2 2012 - The ASIA Miner

Mongolia
Coking coal confirmed at New Coal Discovery
THE presence of coking coal has been
confirmed at the New Coal Discovery area
to the north east of Aspire Mining’s existing
Ovoot coal resource in northern Mongolia.
Initial raw coal analysis shows mid-volatile
coal with CSN of 7-9, low moisture and
high calorific values, values of which are
similar to Ovoot.
The New Coal Discovery area is open to
the northeast, southeast, south and southwest
of the existing Ovoot resource and exploration
drilling is continuing.
Aspire expects to complete 16,500 metres
of exploration drilling through 2012.
Exploration targets include the New Coal
Discovery area, and the Hurimt and Zuun
Del prospects within the Ovoot project. In
2011, Aspire drilled an additional 74 holes
for 17,700 metres at Ovoot.
Aspire recently completed infill drilling required
for completion of a pre-feasibility
study (PFS) covering development of a
ROM open pit mine at Ovoot annually producing
15 million tonnes.
The PFS was expected to be completed
by the end of February.
New resource and reserve calculations
are being prepared and will contribute to an
updated resource and reserve statement
which is expected to be completed in the
March quarter. Aspire is also completing a
detailed airborne magnetics program over
the 500sqkm Ovoot project area with the
aim of improving the understanding of
basement and controls on coal distribution,
and to see through the significant amount
of alluvial cover sitting above much of the
basin to identify further drilling targets.
The airborne survey is being conducted
by Geosan LLC while mining consultancy
SRK Consulting will analyse the data during
the March quarter with a view to providing
additional drill targets for later in 2012. At
present only 20% of the Ovoot basin has
been effectively drilled.
The company has also brought forward a
drilling program on the eastern area of its
Hurimt prospect, which is within the Ovoot
project and 15km from the existing resource
area. It has entered into a contract
with Major Drilling Group to establish a second
camp and initially supply one multi-purpose
drill rig. The Hurimt drilling was
expected to start in February and involves
an initial six-hole, 2000 metre plan, targeting
exposed Jurassic sediments to determine
stratigraphic continuity with the
existing resource area.
Aspire has entered into a strategic marketing
and logistics alliance agreement with
a subsidiary of Noble Group to assist with
development of Ovoot Coking Coal Project.
Noble owns 8.3% of Aspire.
Aspire’s managing director David Paull
says, “This alliance cements our relationship
with Noble and we look forward to
working closely to de-risk Ovoot’s development
path.
“In particular, the alliance provides a
framework to confirm access and cost of
various supply chains to customers in the
seaborne market as well as completing the
important groundwork required to appropriately
brand Ovoot coking coal as a high
value feedstock for coke plants globally.”
40 | ASIA Miner | March/April 2012