Aspire Mining Limited - Confirms High Quality Coal At Ovoot Coking Coal Project In Mongolia
13.01.2011 | ABN Newswire
09:18 AEST Jan 14, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Aspire Mining Limited (ASX: AKM) (PINK: ASPXF) is pleased to announce positive coal quality and raw coal analysis test results from its 100% owned Ovoot Coking Coal Project ('Ovoot') in northern Mongolia.
Coal Quality Test Results
Coal washability test results from the PQ sized metallurgical drill hole, DH215, indicate a very high theoretical yield of 87.7 % to produce a simulated product with 9.5% ash content and a CSN of 9.
Coal washability test work involves float/sink tests and froth flotation.
Based on early results, it is expected that the Ovoot washed product will be a high fluidity, mid-volatile coking coal, which should be well received in metallurgical coal markets.
Raw Coal Analysis
Aspire has also received raw coal quality test results from a further 97 samples, which confirm the high quality and consistency of the coal across the Ovoot Coking Coal deposit.
A total of 221 samples have now been received from 18 holes, which represent 65% of the samples submitted from Aspire's 2010 drilling programme.
The results are consistent with previous analysis received, the only differences in raw coal averages being a 1.7% increase in ash and a fall in volatile matter of 1%.
Further results will be released in the coming weeks.
Aspire's Managing Director, Mr David Paull said: 'We are very encouraged by the high indicative yield to a low ash, high CSN coal product. There is no apparent thermal fraction in the washing results to date which enhances the economics of the Ovoot Coking Coal Project and increases our capability to send a larger volume of high-value coal to end customers.'
All results have been provided by SGS Laboratories in Tianjin, China.
Background
Aspire's100% owned Ovoot Coking Coal Project is located in the Khuvsgul Province in northern Mongolia.
The project was purchased by Aspire in February 2010 and exploration drilling commenced in late April 2010.
In 2010, Aspire completed more than 8,000 metres of drilling and took 338 samples in 7 batches for coal quality assessment.
An initial Coal Resource of 330.7 mt was released in October 2010, with three quarters of the resource sitting above 250 metres from surface.
Currently, a 2D seismic program is underway to further delineate the Ovoot Coking Coal Deposit and identify new exploration targets for the 2011 drilling program.
For the complete Aspire announcement including tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/64983-ASX-AKM-524477.pdf
About Aspire Mining Limited:
Aspire Mining Limited (ASX:AKM) is an ASX listed resource company focused on developing world class quality coking coal projects in Mongolia. The Company acquired 100% of the Ovoot Coking Coal Project and the Nuramt Coal Project in February 2010. Drilling at the Ovoot Coking Coal Project commenced in April 2010 and has now established a significant maiden 330.7 million tonne JORC Resource.
The Company has three quality coal projects in Mongolia and is looking to aggressively develop this portfolio further in the coming year.
Contact:
David Paull
Managing Director
Aspire Mining Limited
Tel: +61-8-9381-1995
Email: info@aspiremininglimited.com
http://www.aspiremininglimited.com