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Mongolia Oyu Tolgoi 70% complete but power is an issue Construction of a siding at the pebble crusher complex at Ivanhoe Mines’ Oyu Tolgoi project. IVANHOE Mines expects construction at the Oyu Tolgoi Copper-Gold Project in southern Mongolia to be 70% complete by the start of 2012 with commercial production scheduled for the first half of 2013. The site based construction workforce is about 14,760 with about 11,680 working on site each day and the balance on leave. About 7820 Mongolians are employed at the site with an additional 3300 Mongolians participating in offsite training and educational programs. These Mongolian employees will form the bulk of the eventual production workforce. Oyu Tolgoi is expected to annually produce an average of 450,000 tonnes of copper and 330,000 ounces of gold over the next 10 years. It is projected to account for one-third of total Mongolian GDP by 2020. An obstacle to the timetable of Ivanhoe and joint developer Rio Tinto remains the provision of power with the Chinese government yet to agree to supply power across the border. Extra diesel generators have been installed and the companies have launched an investigation into alternative power sources should electricity from China not be available on schedule. Ivanhoe has conceded that production could be delayed. In May 2011, the project received final approvals to construct a 220 kilovolt power transmission line along a 95km route south to the Chinese border. Construction of the transmission towers was completed in October and the stringing of power cables will start in spring 2012, if agreement is reached. As part of the investigation into alternatives, Ivanhoe may need to bring forward construction of a coal-fired power plant at the mine. It said in a statement: “Although a power plant is expected as part of the Oyu Tolgoi project’s future development, there is no provision in the current capital cost estimates for 2011 and 2012 and the financing that would be required is not contemplated as part of the company’s current financing plan.” The plant would increase initial capital expenditure and delay commercial production. Ivanhoe has acknowledged that constructing the plant in Mongolia is the best choice for the project. New acquisition for Xanadu-Noble alliance XANADU Mines is acquiring the Khavtsgait Coal Project which is within a highly prospective coal-bearing sedimentary basin in northern Mongolia. The project covers 2869 hectares in this basin, which is known to host premium hard coking coal. It is in Khuvsgul province, about 60km east of the provincial centre of Murun and 250km west of the established rail spur at Erdenet. The acquisition is being undertaken by Ekhgoviin Chuluu LLC (EC), a vehicle established by strategic alliance partners Xanadu and Noble Group to seek out and develop premium metallurgical coal opportunities. The highly prospective exploration licence overlies an early to middle Mesozoic aged coal-bearing sedimentary basin. Similarly aged basins in northern Mongolia, such as the Ovoot Coking Coal Project of Aspire Mining, are known to host premium hard coking coal deposits. The opportunity was recognized as part of a thorough regional reconnaissance exploration program conducted by EC’s geologists. Initial exploration, including trenching, indicates the stratigraphic sequence at Khavtsgait is consistent with the alliance’s newly discovered Nuurstei coking coal project, which is about 60km to the west. It represents the third major metallurgical coal acquisition in Mongolia for EC, which was created in March 2011. Xanadu’s chairman Brian Thornton says, “The Khavtsgait acquisition further underpins the core strategy of EC – to identify and develop significant metallurgical coal opportunities, close to existing infrastructure, that will meet anticipated current and future demands from China and North Asian markets. With the acquisition of a second metallurgical coal project in Khuvsgul by EC, our exploration focus on the newly emerging metallurgical coal basins of northern Mongolia is coming to fruition.” EC plans to begin a comprehensive exploration program at Khavtsgait immediately. The acquisition follows EC’s recent Javkhlant coking coal joint venture where drilling started recently. The project is in Gobi Altai province, about 22km from the Burgastai border crossing into China and only 200km from the Chinese rail network at Hami. EC can earn up to 80% of the 1005sqkm exploration licence by meeting various spending commitments over two years. Reconnaissance mapping and exploration has identified numerous coal and carbonaceous mudstone sub-crops, containing coal fragments, which occur over a strike of 40km. 30 | ASIA Miner | January/February 2012
ERDENE Resource Development Corp is undertaking a 3000 metre drill program at the Altan Nar (Golden Sun) epithermal gold property in southwest Mongolia. The program will test multiple targets over 1km of strike length extending north and south from the original discovery which returned significant, near surface epithermal-style gold, silver and base metal mineralization. The program is concentrating on the central portion of a target area measuring 3km by 2km and containing multiple prospects defined by geochemistry and geophysics. These prospects are also associated with a number of gold-bearing epithermal-style quartz vein/breccia zones identified on surface and in the initial four-hole drilling program. The initial drilling tested a 75 metre wide, low sulphidation epithermal system over a strike length of 100 metres with geophysical anomalies suggesting continuity and local intensification at depth. The initial hole intersected mineralization from 20 to 75 metres averaging 1.02 grams/tonne gold and 12 grams/tonne silver over a 55 metre interval Drilling follows up Altan Nar gold targets and included 23 metres averaging 2.07 grams/tonne gold and 23 grams/tonne silver. Other intersections were 40 metres from surface @ 0.32 grams/tonne gold and 3 grams/tonne silver, including 4 metres from 15 metres @ 0.96 grams/tonne gold and 12 Initial drilling at Erdene’s Altan Nar epithermal gold property. grams/tonne silver; 18 metres from 48 metres @ 0.56 grams/tonne gold and 6 grams/tonne silver, including 2 metres from 62 metres @ 1.24 grams/tonne gold and 17 grams/tonne silver; and 48 metres from 28 metres @ 0.51 grams/tonne gold and 9 grams/tonne silver, including 10.,5 metres from 36 metres @ 1.20 grams/tonne gold Mongolia and 16 grams/tonne silver. There was also lead and zinc mineralization in all holes. Following the initial drilling success, the company completed additional infill soil sampling, regional and detailed magnetic surveys, an extension of the existing IP gradient array and additional dipole-dipole IP lines. The expanded geophysical program has clearly defined chargeability and resistivity anomalies coincident with anomalous gold and base metal soil anomalies in the central portion of the target area. These geophysical anomalies include extensions from the original discovery as well as parallel zones to the north and south. The 3000 metre diamond drill program, consisting of about 18 holes, is expected to be completed by early January. Holes will be drilled to depths of between 100 and 200 metres targeting coincident gold and base metal geochemical and high chargeability anomalies hosted within a distinct magnetic low feature over an area of about 1km by 800 metres. This area contains a number of gold bearing epithermal quartz veins at surface. January/February 2012 | ASIA Miner | 31
Page 1: January/February 2012 | Volume 9 |
Page 4: From The Editor Precious metals the
Page 7 and 8: Asian Intelligence Exploration budg
Page 10: Papau New Guinea Nautilus increases
Page 14: Papau New Guinea Yandera DFS progre
Page 18: Papau New Guinea High-grade gold as
Page 21 and 22: Company Profile An aerial view of t
Page 24 and 25: Papau New Guinea Maiden gold resour
Page 26 and 27: Australia High grade copper results
Page 28: Australia KBL updates Mineral Hill
Page 34 and 35: Mongolia Haranga increases Selenge
Page 36 and 37: China Exploration at Zhongqu and Di
Page 38 and 39: China Production delayed at Eastern
Page 40 and 41: China More balanced approach to res
Page 42 and 43: Indonesia Deep drilling success at
Page 44 and 45: Indonesia New alliance covers manga
Page 46 and 47: Philippines Mining Group to acquire
Page 48 and 49: Central Asia Kazakhstan world’s l
Page 50: India Astra secures third iron ore
Page 53 and 54: Vietnam Phuoc Son mill now at desig
Page 55 and 56: Chinese Investments Abroad Drilling
Page 57 and 58: Chinese Investments Abroad DFS conf
Page 59 and 60: Chinese Investments Abroad Sundance
Page 61 and 62: Chinese Investments Abroad Scope of
Page 64 and 65: Education Training Money Mining Int
Page 66: Supplier News New Caterpillar plant
Page 69 and 70: Supplier News Boart Longyear expand
Page 71 and 72: Product News New T-thread system
Page 73 and 74: ADVERTISING INDEX Aden Services 51

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