Vancouver, BC (PRWEB) June 20, 2012
The most recent assays are in from Altan Rio’s (TSX-V: AMO) 1,900 meter drill program on its 100% owned Khavchuu gold exploration project located in northern Mongolia.
Assays have returned down-hole gold and arsenic anomalies intersected over a 4 x 6 kilometer area including a high grade intersection in hole KH-05 at 11.49 g/t gold within Boroo-type host rocks and alteration. Khavchuu covers 714 square kilometers and is part of the world famous Yeroogol Gold Belt of Northern Mongolia. Altan Rio is riding high on the first results, in a continuous stream of data collected from field programs through to the goal of development of a resource calculation. Altan Rio is focused on expanding the known gold zone on the Khavchuu property and the company is confident that the best is yet to come.
Evan Jones, Altan Rio’s President and CEO, remarked: “I am pleased to share with our investors this discovery of high grade gold mineralization in a Boroo-style geological setting with potential large tonnage possibilities. Our exploration team has successfully demonstrated its ability to target and explore the large Khavchuu gold system, only 10 km from Centerra Gold’s Boroo mine and mill complex. We are encouraged by these results and plan to advance the gold discovery with a focused exploration campaign.”
Altan Rio’s Results
According to the press release issued June 13th, 2012, Jones’ confidence is well-merited. Just 3 months after announcement of the commencement of the first pass drill program at Khavchuu and the company has returned significant assays outlining warranted targets for further drilling.
Drilling Highlights at Khavchuu
The Gem of Mongolia: Yeroogol Gold Belt
The Yeroogol Gold belt is an emerging prolific resource district in resource rich Mongolia. Mongolia has seen a boom in resources in recent years and is a stable political jurisdiction for foreign investment in the mining and mining exploration sectors. It’s not just the fact that Mongolia is a dragon’s den of geological wealth, it is directly next to the world’s biggest and fastest-growing market for most minerals, China. Put together Mongolian supply and Chinese demand, and Mongolia will be rich beyond any current forecasts or speculation. The development of two deposits on the Yeroogol belt, the Gatsuurt gold deposit and the Boroo deposit, points to the exploration potential for discovery of a million ounce plus gold deposit for Altan Rio. During his tenure with Cameco Gold, which was later spun out to form Centerra Gold, Altan Rio’s director of exploration Kelly Cluer had a key role in discovering the 2Moz open pit deposit at Gatsuurt. The Boroo deposit has been a production powerhouse on the Yeroogol belt and has produced about 1.5Moz of Au since it opened in 2004 and currently has approximately 9.7M tonnes of proven and probable reserves remaining containing 298,000 oz of gold.
Follow the company’s progress at http://www.altanrio.com
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