Recent drilling by TVN Corporation at the Nuurst Coal Project in central Mongolia has further demonstrated the extent of a coal seam in the deposit’s southwest. Three recent holes have confirmed the coal seam develops along the full 1.5km width of the licence area, for a length of at least 3km from the southern boundary.
The drilling program will continue with the aim of defining a JORC reportable coal resource covering the south-western portion of the project by the end of 2011. TVN believes that the current drilling results may be defining an extension of the Tsaidamnuur deposit on the Peabody/Winsway joint venture which the Nuurst licence surrounds on three sides. Last year the joint venture was reported to have an NI43-101 resource of 149.7 million tonnes.
Trenching in the south-eastern portion of the site has also extended the sub-cropping coal sequence for more than 700 metres of strike length.
The Nuurst exploration licence covers 3451 hectares about 120km south of Ulaanbataar in an area with a number of operating coal mines. It is 6km from existing infrastructure providing low cost access to the key coal export markets of China, South Korea and Japan.
Meantime, TVN has also appointed a new chief financial officer. Daniel Rohr has 20 years management, corporate advisory, finance and accounting experience as well as extensive experience in managing the development of high growth and start up companies.