Results from a recently completed drill program at Altan Rio Minerals’ Chandman-Yol copper-gold porphyry project in western Mongolia have encouraged the company to test some of the site’s deeper targets.
Seven diamond holes were drilled at the 1402sqkm project’s newly discovered Takhilt target with best results including 8.05 metres @ 1.77 grams/tonne gold from 16.3 metres, including 2.5 metres @ 5.38 grams/tonne gold. The drill program covered 3030 metres over two main target areas - the Ovoot IP anomaly and the partly-exposed mineral system Takhilt.
Five holes were drilled at Takhilt where previous work has identified robust copper anomalies in soil and gold values of up to 30 grams/tonne in rock chip samples. This is the first time Takhilt has been drill tested and Altan Rio says based on the results, further drilling is warranted to follow gold-dominant intercepts both along strike and down dip.
“A second phase of drilling would target potentially shallow resources along the southern edge of the IP domain, in contact with the copper-gold bearing granite system, a compelling target that is more than 1km-long,” says the company’s president Evan Jones.
In the Ovoot zone, which is 11km south of Takhilt two holes were drilled, with both encountering only low-level gold and copper anomalies. Further drilling is warranted at Ovoot, though of lesser priority than Takhilt.
The Chandman-Yol project is in mountainous basin and range country about 1050km west of the capital Ulaanbaatar. It consists of nine tenements, all of which are 100%-owned by Altan Rio.
Copper, gold, arsenic, molybdenum, silver, zinc and lead mineralization was discovered at Chandman in 2005, and Altan Rio has invested US$5 million to date on exploration work including geophysical surveys, geochemistry, sampling, trenching and diamond drilling.