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Be the first with the news that moves the market- Steppe Gold (STGO) has commenced a program of drilling and trenching at its ATO Gold Mine and the Uudam Khundii gold project in Mongolia
- At the ATO Gold Mine, three drill rigs have been dispatched to the Mingu Discovery in order to deliver an initial resource calculation
- While at the Uudam Khundii gold project, geological mapping, geochemical sampling, geophysical surveys, rock chip geochemical sampling, and trenching will target previously identified gold targets
- The work at the Uudam Khundii gold project will be followed by a drill program later in the year
- Steppe Gold (STGO) is currently up 3.82 per cent and is trading at C$2.72 per share
Steppe Gold (STGO) has commenced a program of drilling and trenching at its ATO Gold Mine and the Uudam Khundii gold project in Mongolia.
Three diamond core drill rigs have been dispatched to the ATO Gold Mine, which is comprised of one mining license covering 5,492.63 hectares within the Dornod province of Eastern Mongolia.
Recent drilling efforts targeted high-grade depth extensions under the ATO1 Deposit, which is currently being mined by Steppe Gold. All three of the current drill rigs are located at the Mungu Discovery, where drilling will focus on delivering an initial resources calculation.
At the Uudam Khundii gold project, which comprises one 14,397-hectare exploration license roughly 800 kilometres south-west of Ulaanbaatar, Steppe Gold has already begun initial exploration activities.
The land package represents one of the largest exploration licenses in the Bayankhongor Gold Belt, and will be the subject of geological in-depth mapping, geochemical sampling, geophysical surveys, rock chip geochemical sampling, and trenching.
These trenching results are expected to be made available in the coming months, and will be followed by a drill program later in the year.
Bataa Tumur-Ochir, President and CEO of Steppe Gold, said he is excited to commence the 2020 exploration program.
“With the ATO Gold Mine now successfully in production, we are looking to further define and update the fresh rock resource and in-house feasibility study to expand operations to approximately 150,000 ounces of gold per annum.
“We look forward to updating all our stakeholders and shareholders on our progress,” he added.
Steppe Gold (STGO) is currently up 3.82 per cent to C$2.72 per share at 1:54pm EDT.
