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Tuesday, 29th November 2005 (3814 views)

Asia Gold is to drill on its Khongor porphyry copper-gold discovery in the Gobi region of southern Mongolia.

It aims to explore the site of surface mineralisation at both East Creek and Central Creek.

Rock-chip sample lines were taken in October, one of which returned 0.43 g/t gold over 18 meters in the Central Creek area.

When undertaking a recognisance programme on the West Gobi project in Khongor during the summer, Asia Gold discovered a porphyry copper-gold system, which it says has typical styles and stages of alteration and mineralisation.

The company anticipates the initial drilling will be completed in December.

Mongolia is a fast-growing mining area; its output rose by 75 per cent last year, but is expected to remain stable throughout 2005.

In 2004 the country's gross domestic product rose by around 10.5 per cent and 40 per cent of this has been attributed to the boom in gold mining.

 

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