Aspire Mining Ltd (ASX:AKM) has kicked off infill drilling at its wholly-owned Ovoot Coking Coal Project in Mongolia.
The energy stock recently secured community and government support for a short exploration and water drilling program within the Ovoot mining licence, where it plans to drill nine holes across 1,200 metres.
Aspire said there’s desire to see the Ovoot Project developed at the local level, and the drilling program will increase confidence ahead of a definitive feasibility study (DFS).
Exploration program
Aspire’s work program is projected to cost US$500,000 and will include drilling, lab and technical analysis.
The program has been approved by the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), while an Environmental Protection Plan was given the green light by council and province authorities administered under the Ministry of Nature, Environment and Tourism (MNET).
Community support for the Ovoot project has strengthened in recent years thanks to Aspire’s commitment to support nearby residents.
Ultimately, the work program is an important component of the upcoming DFS, and it will include:
- Obtaining fresh coal samples for:
- washability testing coal, scheduled to be produced during initial years of production; and
- representative samples for independent expert review, and for marketing samples to potential customers;
- conducting hydrogeological testing for the Starter Pit; and
- obtaining geotechnical samples to optimize the pit wall slope angle within the Starter Pit.
Ahead of the exploration program, the company continues to work with:
- The MNET in order to gain approval for the Detailed Environmental Impact Assessment (DEIA) to progress OCCP operations;
- the Minerals Resource Council to secure feasibility study approvals for the Coal Handling and Preparation Plant; and
- the Science and Technology Council for paved road development to facilitate washed product coal haulage to Erdenet.