Haranga Resources says further intersections of high grade iron mineralization have been confirmed at the Bayantsogt prospect within its flagship Selenge iron ore project. The company has announced its final assay results from the 2011 drill program at Bayantsogt, where 31 of the 34 holes intersected significant widths of iron mineralization.  1

Highlights from the drill results include 18 metres @ 36% iron from 176 metres, 28 metres @ 35% iron from 155 metres and 97 metres @ 44% from 223 metres.

Haranga’s managing director Dr Robert Wrixon says these results have expanded the area and depth of iron mineralization hosted within the hill-shaped banded magnetite skarn formation at Bayantsogt.

“The width and the grade of the iron lodes generally increases at depth, including what appears to be a large, high grade core commencing about 150 metres vertical depth from the base of the Bayantsogt hill, although high grade areas also exist closer to the surface. The results are highly encouraging because this type of magnetite mineralization has proven amenable to very low cost beneficiation at the nearby Eruu Gol mine.”

The 600sqkm Selenge project is in the centre of Mongolia’s iron ore belt in the central north region, which also hosts the 3 million tonne per annum Eruu Gol mine - Mongolia’s largest iron ore export mine. Selenge is about 200km north of the capital Ulaanbaatar with access to the trans-Mongolian railway line. Haranga acquired a further 20% interest in the project in November last year, bringing its share to 80%.

A thorough metallurgical test work program is now under way on the mineralization at Bayantsogt as part of a larger scoping study and the company is aiming to release a maiden JORC-compliant resource estimate later this month.

The skarn related iron mineralization has been identified at four primary exploration targets at Selenge that are all within 10km of each other. Bayantsogt is the northernmost prospect within the project.

Haranga is waiting for final assay results from other prospects - Dund Bulag and Huiten Gol within Selenge. The company is also planning its 2012 drill program to further define the resource at Bayantsogt and Dund Bulag.

www.haranga.com

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