INTERCEPTS Fri 01/08/2014

Guildford follows illegal path

2nd Apr 2012

SYDNEY, Apr 2 – Following up the activities of illegal miners on its tenements has led Guildford Coal to potentially commercial fluorite mineralisation at its Mid Gobi exploration licence in Mongolia.

While 70%-owned subsidiary Terra Energy’s main focus at the Mid Gobi project 200km south of the Mongolian capital Ulaanbaatar is the 221.4Mt JORC coal resource, its exploration licence is not mineral-specific.

After learning during the 2011-12 winter that illegal miners had been active on its licence area, company geologists visited the area to collect grab samples for testing.

The tests revealed fluorite mineralisation with potential ceramic grade. With the illegal miners removed by police and security established, the company will begin initial drilling and field mapping in April to confirm the mineralisation and determine if there are any other valuable minerals often associated with fluorite deposits, such as galena, barite and sphalerite (lead, barium and zinc).

 

HighGrade

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