www.unuudur.com » Haranga Resources awarded pre-mining contract for Selenge iron project, Mongolia

Haranga Resources awarded pre-mining contract for Selenge iron project, Mongolia

[Нийтэлсэн: 23:22 10.01.2014 ]

www.proactiveinvestors.com.au

Haranga Resources (ASX: HAR) has been awarded a pre-mining agreement with the Mineral Resource Authority of Mongolia for its 80% owned Selenge Iron Ore Project.

The project is located in Mongolia’s premier iron ore development region of Darkhan – Selenge with access to the main trans-Mongolian Rail line & nearby spurs.

The key terms of the agreement are for Haranga to complete and submit a feasibility study, mine design, and finally construction of a Mine.

Selenge hosts a JORC Resource of 254 million tonnes at 17.2% iron, making it the largest JORC iron ore resource in Mongolia.

Notably, 99.8% of this is in the Measured and Indicated categories, and initial Davis Tube Recovery results indicate that a high quality 66% iron concentrate is attainable from the project.

Drilling also discovered iron mineralisation at the nearby Huiten Gol Prospect, and an additional exploration target of 50 to 100 million tonnes is estimated.

Selenge is made up of the Bayantsogt, Dund Bulag and Undur Ukhaa deposits which lie within 3 kilometres of each other and are associated with large magnetite skarn hills with wide mineralised lodes from surface.

Haranga believes Selenge will support a wet magnetic concentrator with a standalone infrastructure solution to deliver around 4 million tonnes per annum of magnetite concentrate onto the nearby rail spurs for domestic and export consumption.



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