Aspire Mining Ltd. has already defined the second largest coking coal reserve in Mongolia, after TavanTolgoi, and additional coal intersected during drilling outside the existing resource at its Ovoot coking coal project could increase the size. There is still plenty of room for Ovoot to grow into a Tier 1 resource, with only around 20% of the Ovoot Basin explored by Aspire. The miner has identified an extension of coal 800 metres to the northeast that could potentially add to existing open-cut coal reserves. The further exploration success now potentially brings the Ovoot project open-pit coal resource and reserves within around 1 km of the underground resource to the northeast.
“The existing 178 million-ton coking coal reserve base is significant and already the second largest coking coal reserve in Mongolia,” said David Paull, managing director. “There is the potential with these resources extensions and geotechnical studies to see a further increase of our coal reserves.” The miner also receives support from Noble Group Ltd., one of the world’s largest commodity trading and logistics companies to move coal worldwide.
Aspire is now moving exploration to the Hurmit prospect, located in the Central Ovoot Basin around 20 km east of the Ovoot project. The company has received final approval for accessing drill sites for an initial exploration programme of 2,000 metres there. It is targeting near surface coking coal for open-pit mining and is expected to complete this year’s exploration program by the end of October.