Centerra Gold becomes an EITI supporting company

Centerra Gold Inc., which owns Boroo Gold, has become a Supporting Company of the Extractive Industries Transparency Initiative, an international non-profit organization launched in 2002 at the World Summit for Sustainable Development in South Africa. It is a coalition of governments, companies, civil society, investors and international organizations.
The EITI contributes to improved governance in resource-rich countries through the verification and publication of all company payments to governments as well as government-reported revenues from oil, gas and mining.

The EITI standard is implemented by signatory governments with an international multi-stakeholder structure at the core of the initiative. Currently, 60 of the largest oil, gas and mining companies are EITI supporting companies. The EITI’s initiatives aim for good governance so that the extraction and processing of resources can generate revenues that foster growth and reduce poverty. Centerra has played an active role in promoting the EITI in the Kyrgyz Republic and Mongolia. The Company’s mines in these countries were among the first to sign on, report and help improve EITI infrastructure in their respective countries.


Aspire Mining continues to have exploration success at Ovoot

Aspire Mining has reported continued exploration success at its 100% owned Ovoot Coking Coal Project. The company announced the discovery of a previously unknown area of coal seam formation some 4 kilometres to the north east of the existing Ovoot resource area on 19 September and currently has five drilling rigs on site at Ovoot which have continued to intersect hard bright coal. The dimensions of this discovery continue to grow with further recent exploration success open to the south, west and east.

Building on the success, the company carries on with exploration drilling to expand this new coal area, and to investigate the possible connection with the known resource at Ovoot. Drilling will continue through the winter and a Resource upgrade is now expected in March Quarter 2012.  Aspire Managing Director David Paull said, “The potential to join the existing Ovoot Coal Resource Area with this new area remains open while the new coal area is growing to the south, west and east. There is significant opportunity to quickly add resource tonnes to the Ovoot Coal Project.”

Guildford Coal  increases exploration targets in Gobi projects

Guildford Coal Limited has reported substantial increase in its Mongolian coal project exploration targets. Also, a Mining Licence application is being prepared for the South Gobi Project following a maiden JORC resource. The South Gobi Project preliminary quality demonstrates potential for high quality low sulphur coking coal.

Following further drilling, independent consulting geologists have increased the Middle Gobi Exploration Target to 30 mt to 680 mt and this project, too, is progressing to a maiden JORC resource.

TVN Corporation ramps up drilling at Nuurst 

TVN Corporation has ramped up drilling at its wholly owned Nuurst Coal Project which has confirmed a continuous thick coal sequence that extends across the full width of the south western limb of licence area. With the arrival of two additional drilling rigs in recent weeks, the rate of drilling has increased and three holes recently completed support the revised exploration target and demonstrate the extent of the Nuurst Project coal seam development in the south western limb of the Nuurst Licence. 

The Nuurst Project covers 34.5 square kilometres and is located 120 km south of Ulaanbaatar. The project has a 200 to 300 million tonne exploration target, which covers less than 15% of the overall licence. To date TVN has completed more than 3000 metres of drilling and is aiming to define a JORC Resource by the end of 2011. Drilling and trenching at Nuurst will continue until mid-November.  

(All the items are taken from reports by news agencies or from company press releases.)