The project “Khyargas lake” – Copper deposit

In 2003, "Mongorostsvetmet" LLC acquired a license to conduct exploration work in the area of ​​"Khyargas lake" in the western part of Mongolia on the territory of Naranbulag soum, Uvs aimag. 1100 km from Ulaanbaatar, 1200-1400m elevated from the sea level /№ explorational special license-6483H, total area -24184.96 ha /.

In the licensed area, following exploration work carried out:

• Exploratory geological routes with geochemical sampling,

• Geological survey scale of 1: 25,000 for the entire area, and 1: 10,000 - by promising areas, in conjunction with geochemical shooting,

• Geophysical work ( magnetic and electromagnetics)

• Drilling,

• Mining.

In 2007, the results of the search and grading rules of work in the square, probable reserves are estimated at 15 tons of gold. In 2011-2012, exploration drillings were conducted on 120 hectares, or 0,5% of the total license area. According to the results of drilling copper reserves have been approved for category B + C at 1.9 ore with an average grade of 0.77%, while category P 260.1 thousand tons of ore with an average grade of 0.03% copper.

On the basis of section 23.3, Article 23 of the Law "On Mineral Resources" signed a contract №AOUA 2012/09/62, dated 30.05.2012 with the Mineral resources authority to conduct pre-operational activities  for a period of 3 years.

We have completed the feasibility study of Kharaat copper deposit based on the actual reserve and defended to the “Mineral resources professional committee”, according to the Order №224 of the Head of Mineral Resources Authority dated 20 April 2012 and the Pre-operational activity contract №AOUA-2012/09/62.

“Mongolrostsvetmet” LLC has obtained “Khyargas lake” deposit the operational license of 15 tonn gold by reserve and resource degrees on 7260,73 ha prospective area.

As a result of geological exploration, there are promising areas for copper, iron, gold and other metals detected, more detailed study of the entire area required.

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