Fortbridge Media ReleaseHunnu Coal [ASX: HUN] - Tsant Uul JORC resource estimate increaseHunnu Coal (ASX: HUN) has upgraded its JORC reportable resource estimate for the Tsant Uul Coal Project (Mongolia) by 85%.
Highlights:
* 85% increase to JORC Coal Resource at Tsant Uul
* JORC reported Coal Resource of 167.1Mt
* 93.8Mt classified as Measured (40.9Mt) and Indicated (52.9Mt).
* Further upgrades to the JORC reported Coal Resource model expected in the latter half of 2011 with additional drilling completed and underway.
* The Tsant Uul Project mining license has been granted for an initial term of 30 years with an option for twenty years extension twice, providing a total of 70 years of mining operations.
* The Company is in advanced discussions for off-take with potential future buyers of Tsant Uul Project coal.
* Targeting commencement of mining in the last quarter of 2011.
* Targeting initial production of 1.5Mt of coal in 2012 and 3Mt in 2013.
* Owner operator mining fleet currently being purchased with initial purchases including six CAT 773 Dump Trucks and a Hitachi 1200 excavator. Additional purchases underway.
* Hunnu Coal now has Total JORC Resources across its projects of 843Mt.
* Initial JORC Coal Resource currently being estimated for the Altai Nuurs Premium Hard Coking Coal Project. Altai Nuurs has an Exploration Target* of 250Mt to 500Mt.
Please find details in the announcement at:
For further information, please contact:
Matthew Wood
Executive Chairman
George Tumur
Managing Director
E-mail:
Tel: +61 8 9200 4267
Media:
Fortbridge +61 2 9331 0655
Luke Dean +61 414 535 433