Mongolian metals corporation secures mining licence for the highly prospective Khongor area

Mongolian Metals Company (“MMC” or the “Firm”) is happy to announce that the MineralResource and Petroleum Authority of Mongolia (“MRPAM”) issued Mining License MV022148 forMMC’s Khongor Useful resource within the southwest Gobi Area of Mongolia on 21/07/22.

LONDON (PRWEB)
August 17, 2022

Mongolian Metals Company (“MMC” or the “Firm”) is happy to announce that the Mineral Useful resource and Petroleum Authority of Mongolia (“MRPAM”) issued Mining License MV022148 for MMC’s Khongor Useful resource within the southwest Gobi Area of Mongolia on 21/07/22.

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Quotes from the Firm:

“This mining license is the results of twelve years of laborious work by our staff alongside professional third occasion consultants,” mentioned Lee Cashell, CEO. “With distinctive outcomes to this point, we’re assured our subsequent stage exploration program will place MMC as one of many pre-eminent, untapped assets within the South Gobi.”

“The licensing course of in Mongolia has develop into more and more aggressive and demanding, and we’re thrilled the related authorities have vindicated our efforts,” continued Mr Cashell. “The license allows MMC to take long term stewardship of the asset and focus exercise throughout a time of heightened international demand.”

Mining Licence

The 37,000 hectare Khongor license space is situated within the Center Devonian Edren island arc terrane, the positioning of among the world’s most potential gold and copper discoveries. A number of of Mongolia’s most vital porphyry gold-copper and copper-molybdenum deposits had been found in these Center Devonian island arc terranes, together with Oyu Tolgoi, Kharmagtai, Tsagaan and Suvarga. Presently there are two principal gold-copper porphyry and molybdenum-copper prospects (Zuun Mod and Khul Morit) situated simply 20-35km from the Khongor license space each of that are the topic of intensive exploration exercise by Canadian and Mongolian corporations, together with trenching and drilling. The license space has been the main focus of intensive geological mapping, geochemical and geophysical surveys, in addition to chosen drilling. The outcomes of the exploration program to this point have been extremely potential, indicating vital occurrences of gold and copper rock chip and trenching samples:

• 
  107 g/t (AU) in Ulaan Tolgoi
• 3.35 % Copper (Cu) in Khar Ovoo
• 3.68% Copper (Cu) in Del Khad
• 83.7 g/t Gold (Au) in Del Khad
• 728 g/t Silver (Ag) in Del Khad

Thus far, the Firm has invested a complete of roughly US$4m in exploration of the property over its 12 yr exploration cycle. SRK (a number one worldwide pure assets consultancy) is contracted as an exploration advisor and is helping MMC with the general exploration of the positioning through the 2022 exploration season. The Khongor prospect is adjoining to and types a part of the identical geological system because the Bayan Khundii license space in Southwest Mongolia, which is presently being developed by Erdene Useful resource Improvement Company (TSX: ERD).

About MMC

MMC is a privately held Mongolian mining firm with a portfolio of exploration and mining licenses representing vital deposits of copper, gold, molybdenum, coal and quartz throughout 4 aimags of Mongolia. The corporate additionally advantages from sturdy ongoing entry to additional license acquisition alternatives. MMC was based in April 2008 and has to this point acquired 4 mining licenses in Mongolia. Additional info is out there at http://www.mining-mongolia.com. Vital info could also be distributed straight from the web site and buyers ought to frequently seek the advice of this straight.

Ahead Wanting Statements

Sure info concerning MMC contained herein could represent ahead wanting statements throughout the which means of relevant securities legal guidelines. Ahead-looking statements could embody, amongst different issues, statements concerning grades, targets, estimates and assumptions in respect of mineral reserves and mineral assets and anticipated grade, plans, expectations, opinions, forecasts, projections, steerage or different statements that aren’t statements of truth. Though MMC believes that the expectations mirrored in such forward-looking statements are cheap, it may give no assurance that such expectations will show to have been right. MMC cautions that precise efficiency will probably be affected by a lot of elements, most of that are past its management, and that future occasions and outcomes could range considerably from what MMC presently foresees. Elements that might trigger precise outcomes to vary materially from these in forward-looking statements embody market costs, exploitation and exploration outcomes, continued availability of capital and financing and basic financial, market or enterprise circumstances. The forward-looking statements are expressly certified of their entirety by this cautionary assertion. Buyers are cautioned that ahead‐wanting statements will not be a assure of future efficiency and accordingly buyers are cautioned to not put undue reliance on ahead‐wanting statements because of the inherent uncertainty therein. The data contained herein is acknowledged as of the present date and is topic to vary after that date. The Firm doesn’t assume the duty to revise or replace these forward-looking statements, besides as could also be required underneath relevant securities legal guidelines.

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE

MMC Contact Info

Lee Cashell, CEO

cashell@mining-mongolia.com

+44 (0) 7557 234995

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