SouthGobi Energy Resources Receives Mining Licence For Tsaagan Tolgoi Coal Deposit
2009年8月12日 - 11:14PM
Marketwired
Alexander Molyneux, President of SouthGobi Energy Resources Ltd.
(TSX VENTURE: SGQ), announced today that Mongolian authorities have
issued a mining licence for the Tsaagan Tolgoi coal property that
is held by the company's Mongolian subsidiary, Southgobi sands LLC.
The Tsaagan Tolgoi property is in the South Gobi Region,
approximately 415 kilometres east of SouthGobi's Ovoot Tolgoi coal
mine.
An independent NI 43-101 resource estimate for Tsaagan Tolgoi
was prepared in February, 2008 by Norwest Corporation of Salt Lake
City, USA. Norwest estimated 23.4 million tonnes of measured
resources, 13.0 million tonnes of indicated resources and 9.0
million tonnes of inferred resources. The coal is of volatile
bituminous B to C in rank based on ASTM D 388 standards and is
suitable for use as a thermal coal. The resources appear to be
amenable to surface extraction down to a planned depth of 150
metres. Details of the assumptions and parameters used to calculate
these coal resources and coal quality estimates are set out in the
Technical Report entitled "Coal Geology and Resources - Tsagaan
Tolgoi Property" dated March 25, 2008 and available at
www.sedar.com.
The deposit has the potential to supply any future coal-fired
power plant that may be developed to produce electricity for
Ivanhoe Mines' planned Oyu Tolgoi copper-gold mining complex, which
is approximately 115 kilometres northeast of Tsaagan Tolgoi.
SouthGobi is required to submit a Technical and Economic Study
to the government agency in charge of mining within 60 days of the
receipt of the mining licence. The study is almost complete and
SouthGobi intends to meet the submission deadline. The General
Environmental Impact Assessment (EIA) for the Tsaagan Tolgoi
Project was approved by Mongolia's Ministry of Nature and
Environment in June 2009. A more detailed EIA is underway and will
be submitted following approval of the Technical and Economic
Study.
Mr. Molyneux said a decision to mine coal at Tsaagan Tolgoi will
depend on the receipt of additional required permits and would
follow the results of more detailed studies.
"Tsaagan Tolgoi is an important asset in SouthGobi's portfolio
and the receipt of a mining licence is an important step," Mr.
Molyneux added. "It speaks to the hard work and diligence of our
employees, and the commitment the company has to Mongolia."
About SouthGobi Energy Resources
SouthGobi Energy Resources is focused on exploration and
development of its Permian-age metallurgical and thermal coal
deposits in Mongolia's South Gobi Region and its Eocene-age
metallurgical and thermal coal deposits in East Kalimantan,
Indonesia. The company's flagship coal mine, Ovoot Tolgoi, is
producing and selling coal to customers in China. The company plans
to supply a wide range of coal products and electricity to markets
in Asia.
Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) is SouthGobi
Energy Resources' largest shareholder, currently owning, directly
and indirectly, approximately 80% of the issued and outstanding
shares.
Qualified Person
Disclosure of a scientific or technical nature in this release
was prepared under the supervision of Stephen Torr (P.Geo.), the
Company's Resource Manager, a "qualified person" for the purposes
of National Instrument 43-101 of the Canadian Administrators ("NI
43-101").
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, the company's plan to submit a Technical and
Economic Study and detailed EIA for Tsaagan Tolgoi, plans to supply
coal products and electricity to markets in Asia, and other
statements that are not historical facts. When used in this
document, the words such as "could", "plan", "estimate", "expect",
"intend", "may", "potential", "should", and similar expressions are
forward-looking statements. Although SouthGobi Energy Resources
believe that the expectations reflected in these forward-looking
statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important
factors that could cause actual results to differ from these
forward-looking statements are disclosed under the heading "Risk
Factors" in SouthGobi Energy's Management's Discussion and Analysis
of Financial Condition and Results of Operations for the year end
Dec. 31, 2008, which is available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SouthGobi Energy Resources Steven Feldman Investors +1
604-681-6799 SouthGobi Energy Resources Bob Williamson Media +1
604-681-6799 www.southgobi.com
SouthGobi Resources (TSXV:SGQ)
過去 株価チャート
から 9 2024 まで 10 2024
SouthGobi Resources (TSXV:SGQ)
過去 株価チャート
から 10 2023 まで 10 2024