All assay results from a 35,000 metre drill program at Haranga Resources’ Selenge Iron Ore Project have been received, confirming wide lodes of mineralization at three prospects.
The mineralization area at Dund Bulag has been extended with 61 of 70 drill holes indicating further wide intersections of near-surface magnetite, including 130 metres @ 22% iron from 67 metres and 20 metres @ 25% iron from 2 metres.
At Undur Ukhaa, best results include 44 metres @ 20% iron from 24 metres and 18 metres @ 22% iron from 82 metres while 59 holes of the 66 drilled at Bayantsogt intersected significant apparent widths of magnetite mineralization. A 2011 resource estimate for this prospect outlined an inferred 32.8 million tonnes @ 24.4% iron.
From these results the company has announced its cumulative exploration target is 250-400 million tonnes, and expects to release an updated JORC resource for Bayantsogt by June as well as initial resource estimates for the other two deposits.
Haranga’s managing director Robert Wrixon says there are a number of other promising magnetic anomalies yet to be tested, which may further add to the resource. “This successful drill campaign follows the recent MOU covering 5 million tonnes/annum of rail capacity and excellent metallurgical results on Selenge iron mineralization from Bayantsogt, Dund Bulag and Huiten Gol.”
Selenge is within Mongolia’s premier iron ore development region, about 200km north of Ulaanbaatar. It hosts four priority iron ore targets, all within 9km of each other and about 12km southwest of the country’s largest iron ore export mine, Eruu Gol. This mine annually produces about 2.5 million tonnes of magnetite concentrate and ships the product via a newly constructed 75km rail spur connecting the mine to the main Trans-Mongolian rail line, which the Selenge project also has access to.