The Conversation (0)
Jul. 06, 2011 09:35AM PST
SouthGobi Resources Ltd. (TSE:SGQ) reports that that it has received mining license MV-016869 for Soumber Deposit, Mongolia.
The press release is quoted as saying;
The Soumber Deposit is approximately 20 kilometres east of SouthGobi’s flagship Ovoot Tolgoi Mine. An independent NI 43-101 resource estimate for Soumber was prepared in January, 2011 by Minarco-MineConsult (“MMC”). MMC estimated 61.4 million tonnes of measured and indicated resources and 65.8 million tonnes of inferred resources.
SouthGobi’s President and CEO, Alexander Molyneux says:
“With the granting of the Soumber mining license, we can immediately finalize plans for mine development at Soumber.” “Soumber will likely have an integrated coal processing facility and will require around two years of development for first clean coal production.”
Click here to access the entire news release.
