09:16 AEST Oct 10, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Perth, Australia (ABN Newswire) - Mongolian coal explorer Aspire Mining Limited (ASX:AKM) is pleased to report continued exploration success at the 100% owned Ovoot Coking Coal Project ('Ovoot').
The Company announced the discovery of a previously unknown area of coal seam formation some 4 kilometres to the north east of the existing Ovoot resource area on 19 September 2011.
The Company currently has five drilling rigs on site at Ovoot which have continued to intersect hard bright coal. The dimensions of this discovery continue to grow to over 2 kilometres by 1 kilometre with further recent exploration success open to the south, west and east.
Building on the success of this new coal discovery at Ovoot, DH289 intersected a total of 16.5 metres of coal seams from 389 metres. This hole represents a thickening of the coal seams to the south from the coal intersections in holes DH276, DH288 and DH283, and is an encouraging sign for the continuity of the coal seams further to the south. This coal thickening to the south was evident in the Ovoot Coal Resource Area and this is highly encouraging to see the similar pattern some 4 kilometres along strike.
The Company notes that the new coal seam area identified to date is open eastwards into the neighbouring Hurimt Prospect. Exploration drilling is continuing to expand this new coal area, and to investigate the possible connection with the known resource at Ovoot.
The Company has now hit coal in seven drill holes in this new coal discovery area. The following four holes have not previously been reported. Coal seam thicknesses have been adjusted for geophysical logs unless otherwise indicated:
- DH288
4.4 metres of coal from 319 metres
3.2 metres of coal from 325 metres
- DH289
4.6 metres of coal from 389 metres*
11.9 metres of coal from 399 metres*
- DH297
5.0 metres of coal from 372 metres
- DH298*
2.8 metres of coal from 455 metres
3.2 metres of coal from 460 metres
In addition, DH291 which was previously reported in the 19th of September 2011 Exploration Update has been deepened with additional coal being intersected.
DH291*
- 2.9 metres of coal from 338 metres
- 3.5 metres of coal from 345 metres
The Company has also successfully intersected coal in DH293, which was drilled on the eastern edge of the existing Ovoot Coal Resource Area and returned the following:
DH293
0.9 metres of coal from 269 metres
0.4 metres of coal from 271 metres
0.4 metres of coal from 280 metres
Aspire Managing Director David Paull said: 'The potential to join the existing Ovoot Coal Resource Area with this new area 4 km's along strike remains open while the new coal area is growing to the south, west and east. There is significant opportunity to quickly add resource tonnes to the Ovoot Coal Project.'
Note*: Not geophysically logged
About Aspire Mining Limited:
Aspire Mining Limited (ASX:AKM) owns 100% of the Ovoot Coking Coal Project in northern Mongolia which, in 2010, announced a maiden 330 million tonne resource (93.3mt Measured, 182.4mt Indicated, and 55.0mt Inferred). Aspire is currently targeting resource upgrades at Ovoot, as well as progressing development of key infrastructure including access to rail.
Source:
Aspire Mining Limited
Contact:
David Paull
Managing Director
Aspire Mining Limited
Tel: +61-8-9287-4555
Email: info@aspiremininglimited.com
http://www.aspiremininglimited.com
