Aspire Mining Ltd (ASX:AKM) is busy developing metallurgical coal assets in Mongolia, where it is working on its wholly owned Ovoot Coking Coal Project (OCCP) in the country's north.
The company has now wrapped up onsite activities related to a small-scale infill drilling program on the Ovoot mining licence, as previously planned and announced for the December quarter.
Approved drilling activities
The drilling was done in accordance with the exploration plan approved by the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), along with an environmental protection plan approved by soum (council) and aimag (province) authorities administered under the Ministry of Nature, Environment and Tourism (MNET).
Exploration boreholes were drilled at 11 locations within the mining licence, for a total of 1,569 metres drilled.
Of these, 1,284 metres were of HQ size (including 487.5 metres of PCD2 drilling and 836.2 metres of DD3 drilling) and 285 metres were of PQ size (including 152.6 metres PCD and 131.6m DD).
The company has now delivered the water, coal and rock samples it gathered from the field to accredited laboratories in Ulaanbaatar.
Initial laboratory results are expected to be available in early 2023 to facilitate the intended hydrological, geotechnical and washability analyses for input into revised geological modelling and mine design and scheduling.
The implementation of the exploration program provided multiple commercial opportunities for people and businesses in Tsetserleg soum.
Over a two-month period, more than 30 local people were employed, and more than MNT 165 million (around US $50,000) was spent directly and indirectly on locally procured goods and services, which the company says represents a significant contribution to the local economy.
About Aspire Mining
Aspire Mining wholly owns the world-class Ovoot Coking Coal Project and has a 90% stake in the Nuurstei Coking Coal Project – both in the Khuvsgul aimag province of northern Mongolia, near the border with Russia.
The company is focused upon permitting, engineering and financing the Ovoot Project.
The plan is to mine coking coal, truck this to a company-owned terminal facility in Erdenet and then deliver the product to customers in China and Russia via the existing Mongolian rail network.