EFG Continent - Daily Update, Dec 5, 2012.
Alhambra discovers additional gold mineralization at depth (page 2)
Mongolian Mining commissions BN-UHG road and truck maintenance workshop (page 2)
Kentor Gold confirms gold mineralisation at Bashkol (page 3)
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Alhambra Resources discovers additional gold mineralization at depth
Alhambra Resources (ALH) announced that the first diamond drilling program completed in 2012 at its 100% owned Zhanatobe project area had intersected significant gold mineralization at depth in both the Northern and Central areas.
Four of nine holes intersected mineralized intervals grading greater than 0.5 g/t Au located with broad intervals of lower-grade gold mineralization. In the Central area, gold mineralization was discovered at depth returning 2.11 g/t Au over 5.0 m and 1.98 g/t Au over 3.0 m. In the Northern area, mineralization was also discovered at depth returning 0.86 g/t Au over 11.0 m (including 1.37 g/t Au over 5.30 m). In both areas, gold grades become significantly higher at depth when compared to previous shallow rotary air-blast drilling results.
The news is a moderately positive, as the gold mineralization at early stage exploration targets at Zhanatobe continues at depth. ALH plans to concentrate its efforts on outlining the mineralization zones and searching for higher-grade areas of gold mineralization.
Mongolian Mining commissions BN-UHG road and truck maintenance workshop
Mongolian Mining (MMC) completed the construction of important transportation infrastructure and logistics facilities, including a 32-km heavy haul road between the Baruun Naran (BN) and Ukhaa Khudag (UHG) mines and the Truck Maintenance Workshop facility at UHG. Both the BN-UHG road and Workshop were successfully commissioned by the relevant government authorities on 30 November 2012.
The news is positive for MMC. The BN-UHG road will serve as the reliable connection through which the company will transport coal from the BN mine to the coal processing facilities located at the UHG mine. The Workshop facility will provide services and maintenance support to 300 double-trailer heavy haul coal trucks currently owned and operated by MMC. The Workshop will improve transportation efficiency by increasing the availability and utilization rate of coal trucks and the overall safety and reliability of its trucking operations.
Kentor Gold confirms gold mineralisation at Bashkol
Kentor Gold Limited (KGL) reported a successful 2012 exploration program at the Bashkol Licence Area in the Kyrgyz Republic, resulting in planning for a 2013 drilling campaign at the Bekbulaktor Gold-Copper Prospect.
The reconnaissance program led to the identification of three areas for further work next year:
Molo, where the channel sampling of widespread complex sulphide mineralisation associated with quartz over a strike length of 2km on the southern side of the Nikolaev suture line yielded gold assays of up to 10g/t. This is consistent with first-pass prospecting results from 2011.
Molo-Bekbulator, where the channel sampling of widespread quartz veins and veinlets over a strike length of 3km on the southern side of the Nikolaev suture line yielded gold assays of up to 27g/t. This also is consistent with first-pass prospecting results from 2011.
Sharkratma-Molo, where disseminated gold-copper-molybdenum mineralisation was identified over an area of 4 square kilometres on the northern side of the Nikolaev suture line.
We believe the news is neutral for KGL.
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|Publication:||Russian Banks and Brokers Reports|
|Date:||Dec 5, 2012|
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