ARANJIN RESOURCES LIMITED
ULAANBAATAR, MONGOLIA, Aranjin Resources Ltd. (TSX.V: ARJN) (the “Company” or “Aranjin Resources”) is pleased to announce that it has entered into an agreement to acquire the highly prospective Sharga Copper Project (the “Sharga Project” or “Project”). The Sharga Project is located in the Gobi Altai region of Mongolia near the Chinese border and is comprised of one Mineral Exploration Licence covering over 9,000 hectares.
The Sharga Project is located in the Sharga Soum of Gobi Altai Province and 80 km from the Altai city. The project is situated only 20 km away from key roads linking Altai to China. The accessibility to the Project area is well developed including paved road and/or airline to Ulaanbaatar.
Prior exploration at the Project has defined three high grade copper targets and extensive electromagnetic anomalies typical of massive copper sulphides. Prior work has included 74 rock chip samples, two diamond core drill holes totaling 222.5 metres, 77 drill core samples, 921 line kilometres of ground magnetics and 40 line kilometres of ground based electromagnetic geophysics.
A single drill hole was completed into two of the better electromagnetic anomalies with better drill results including:
East Sharga Discovery (one drill hole to 172.5 metres depth)
SHD001 – 37.8m at 0.95% copper, 1.37g/t gold and 6.8g/t silver from 132.6 metres
West Sharga Discovery (one drill hole to 50 metres depth)
SHD002 – 11m at 0.15% copper and 0.12g/t gold from 28 metres.
These are highly encouraging drilling results for such an early-stage project. The Company plans to commence drilling and additional geophysics at the Sharga Project in the next month, following completion of drilling of a single hole at the Company’s Bayan Undur Copper Project.