Ulaanbaatar, Mongolia–(Newsfile Corp. – January 10, 2024) – Aranjin Resources Ltd. (TSXV: ARJN) (the “Company” or “Aranjin Resources“) is very pleased to announce that it has recently completed analysis of auger geochemical and ground geophysical data across the Victory gabbro intrusive at the Victory Nickel Copper Discovery in Mongolia. This has highlighted numerous targets for follow-up in 2024.
A very strong correlation in auger geochemistry where copper and nickel are separately both above 100ppm and are situated directly on a defined ground magnetic low in the center of the Victory intrusive. This has defined a clear high priority drill target for the Company.
Drill target area is approximately 400m x 400m and is circular in shape.
A total of six 200m deep diamond core drill holes have been planned to test the target across two east west drill traverses with three drill holes per line.
Drilling is set to commence on completion of the dual listing on the ASX and a drilling contractor has been booked for the first half of 2024.
Additional auger geochemistry has been planned across the Victory gabbro intrusive and elsewhere on the Victory licence where multiple other nickel copper targets have been identified by the Company.
The Company has recently completed analysis of previously concluded auger geochemistry and ground geophysical surveys. This has identified a high-quality priority drill target that is planned to be drill tested on completion of the ASX listing in the first half of 2024. Figure 1 shows a very strong correlation in auger geochemistry where copper and nickel are separately both above 100ppm and are situated directly on a defined circular magnetic low in the center of the Victory gabbro intrusive. This target is approximately 400m x 400m in area and the Company has planned to test this with a total of six 200m deep diamond core drill holes across two east west drill traverses 200m apart and at 100m spacing along each traverse. The drilling contractor has been booked.
Additional auger geochemistry is planned across the Victory gabbro intrusive where drill coverage is sparse. The Company is also planning to commence Stage Two testing across a number of other nickel copper targets on the Victory license as part of this auger program.
Mr. Matthew Wood, Executive Chairman of Aranjin Resources, stated, “2024 is going to be an exciting year for Aranjin Resources with drilling planned across all our projects in Mongolia and Australia. The first of the targets to be drilled will be the Victory Nickel Copper Discovery where a high priority drill nickel copper target has now been identified.”
The technical content of this news release regarding has been reviewed and validated by Enkhtuvshin Khishigsuren., a Qualified Person as that term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Figure 1 – Shows a very strong correlation in auger geochemistry where both copper and nickel are separately both above 100ppm and are situated directly on a defined magnetic low in the center of the Victory intrusive.
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On behalf of the Board
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Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. Such statements include, but are not limited to, statements with respect to the Australian Transaction, any approvals required by the TSX Venture Exchange and any intended exploration work on the Australian Projects. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aranjin Resources to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: (i) any inability of Aranjin Resources to satisfy conditions imposed by the TSX Venture Exchange on the Australian Transaction for any other reason; and (ii) any change in the circumstances of the Company, whether internal or external, whether affecting the Company particularly, the Australian Projects particularly, or the general mineral and/or general global markets, which could cause the Company to reconsider and adjust or abandon any exploration work it currently intends for the Australian Projects. Although management of Aranjin Resources has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. No party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The parties caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
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