Results from the inaugural 1902 metre drilling campaign at Altan Rio Minerals’ Khavchuu gold project in northern Mongolia have confirmed significant gold anomalies at the site.
Seven wide-spaced reconnaissance core holes were drilled at the 71sqkm project between March and May this year, with five holes intersecting major gold and/or arsenic anomalies which are known to indicate orogenic gold deposits in the region. One hole intersected high grade gold of 11.49 grams/tonne over 1 metre in an area on the edge of a large Boroo granitoid.
Altan Rio’s president Evan Jones says, “I am pleased to share with our investors this discovery of high grade gold mineralization in a Boroo-style geological setting with potential large tonnage possibilities. Our exploration team has successfully demonstrated its ability to target and explore the large Khavchuu gold system, only 10km from Centerra Gold’s Boroo mine and mill complex. We are encouraged by these results and plan to advance the gold discovery with a focused exploration campaign.”
He says the overall results of the campaign were surprisingly positive and the new gold discovery zone is an exciting development which adds to the prospectivity of Khavchuu. “The presence of anomalous gold and elevated arsenic is promising as it could represent the distal portions of economic mineralization, perhaps several hundred meters away.”
The company is now planning follow-up drilling to advance the discovery. Detailed geophysics will be undertaken to delineate zones of higher IP chargeability within the structures confirmed by drilling. Additional soil geochemical surveys are also planned and drilling will then target further test zones of known mineralization and the most promising geophysical anomalies.
Altan Rio is a Canada-based company exploring large-scale gold and copper projects in Mongolia. The company’s licence holdings in Mongolia, which total more than 153,310 hectares, contain significant zones of newly identified primary gold and copper mineralization across a very large area of unexplored ground.