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EO is the owner of the highly prospective 12600X exploration licence and associated mining licence application, which is adjacent to Guildford’ Baruun Noyon Uul (BNU) coking coal mine in Mongolia.
The 12600 licence contains the northwestern part of the Noyon coal basin with coal seams continuing from the operating BNU Mine into the 12600 licence.
The 12600 licence will play an important role in Guildford’s expansion plans for the coking coal operations in the South Gobi, the company said.
Independent geologist Xenith Consulting Pty has developed a geological model for 12600x based on exploration work carried out to date and a JORC upgrade has been completed.
The JORC 2012 classified resource estimate is 15 million tonnes at inferred status. There is an additional cumulative exploration target of 26Mt to 45Mt.
