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Aspire sets 330.7Mt in Mongolia

ASPIRE Mining, one of the few Australia-listed explorers in Mongolia, recently set a maiden resou...

Blair Price
Aspire sets 330.7Mt in Mongolia

About 75% of this resource in the Ovoot Coal Basin was at a depth of less than 250m from the surface, while 93.3Mt was measured and 182.4Mt was in the indicated category.

The resource was confirmed by consultancy CSA Global and came from 44 holes drilled for 8364m.

On Thursday, Aspire said more than 90% of coal was within two main seams and one of the holes intersected 42.3m of coal at a depth of 74.8m.

Commercialisation studies are underway while an additional drilling program is planned for 2011.

Aspire acquired the Ovoot and Nuramt coal projects in February and drilling started in the Ovoot project in April.

Aspire shares closed up half a cent to 19c yesterday.

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