Aranjin Resources Ltd. (TSX.V: STAR) (the “Company” or “Aranjin Resources Limited”) is pleased to announce that it has entered into agreements to acquire a 100% interest in two highly prospective porphyry copper projects in southern Mongolia through a combination of work programs, deferred cash payments and the issuing of STAR shares.
The Company has the rights to acquire a 100% interest in the 150 square kilometer Baruun Tal Copper Project located in in the World Class South Gobi Porphyry Copper Province. The Baruun Tal Copper Project was last explored by Ivanhoe Mines in 2007 and no exploration has been undertaken since that time. The area remains under explored and highly prospective. Exploration results from Ivanhoe Mines soil, rock chip and trenching programs are early stage and results are extremely encouraging and show the potential for the possible discovery of a copper porphyry copper system. Early rock chip sampling returned results up to 14.5% copper and trenching results returned a best result of 22 meters at 0.8% copper. The Company is currently compiling past exploration results with the aim of immediately commencing for the planning of a substantial ground magnetic program and IP geophysical survey to highlight targets for drilling in early 2020.
The Company has also agreed to acquire a 100% interest in the 2,773 hectare Bayan Undur Copper Project located in Bayankhongor Province, which comprises four granted mining licenses. The Company will undertake a thorough review of the considerable volume of past exploration including drilling, geochemistry and geophysics with the aim of identifying new drill targets for 2020.
The Company owns a 100% interest in five diamond projects, all of which are located in Brazil – Catalão, Riachão, Maravilha, Veríssimo and Alecrim. The Company’s principal project is the Catalão Project.
• Aranjin Resources Limited has acquired the rights to two highly prospective Copper Projects in Mongolia.
• Baruun Tal Copper Project in the World Class South Gobi Copper Province – Porphyry Copper Discovery.
• Bayan Undur Copper Project in Bayankhongor Copper Province.