Mongolian Metals Corporation is a private exploration company with a license in the heart of the highly mineralised South Gobi Copper Belt in South West Mongolia. The 75,000 hectare license is prospective for high grade copper and gold.
The property borders neighbouring licenses held by Erdene Resources (ERD) and Steppe Gold (STG), both listed on the Toronto Stock Exchange (TSE). Erdene Resources (TSE: ERD) sizeable and shallow precious metal epithermal systems at Bayan Khundii and Altan Nar are located immediately west of the property.
Two mineralized porphyry systems occur within 20 to 35 km of the Khongor property, both associated with small hydrous plutons in the same geological bedrock unit that underlies much of the Khongor Property.
Regionally and locally observed geological structures are related to accretion and contraction resulting in compressional foliations, dilatational fractures, cross-cutting faults, and dyke swarms.
The Khongor property is prospective for porphyry and epithermal styles of mineralization. Copper+gold+molybdenum porphyry mineralization is known to occur throughout southern Mongolia, including the Oyu Tolgoi deposit 800km to the east.
Deposit exploration targets are:
1. Porphyry copper and gold
2. Epithermal gold-silver-base metal.
Results from 2016-18 geological mapping and geochemical analysis of rock chips, stream sediments and soil samples have identified numerous medium to high grade gold, silver and copper deposits. The two target areas are at Gun Zag and Tourmaline Pipe and the highest grades in these areas are:
Gun Zag is an area of altered lithocap with a Cu-Au porphyry system with up to 83.7g/t Au, 262g/t Ag and 1.85% Cu from rock chip samples. The lithocap is surrounded by other interesting Cu-Au mineralization zones. To date the following exploration has been carried out:
- Surveys of magnetism, chargeability and resistivity undertaken
- Soil and river sediment sampling surveys
- Extensive rock chip survey of entire lithocap
- Some drilling and trenching
The Gun Zag target is within purple box. Eastern Gun Zag (Del Khad and Ulaan Tolgoi) is within the yellow box. Local fault systems are indicated by pink, turquoise, black and orange lines.
High grade gold (Au - red/pink), copper (Cu - green), silver (Ag - turquoise) with grade in g/t are indicated. Other rock chip sample locations indicated by white circles.
East Gun Zag targets are within the yellow box with local fault systems indicated by pink and black lines. High grade gold (Au - red/pink), copper (Cu - green) with Au grade in g/t and Cu in ppm indicated
Del Khad: 83.7g/t Au, 1.85% Cu, 728g/t Ag, 227g/t Ag
Ulaan Tolgoi: 71.3 g/t Au, 51.9g/t Au, 262g/t Ag
Tourmaline Pipe is an Au-rich epithermal quartz vein system with up to 4.27g/t Au from rock chip samples. It forms part of the same system as the Bayan Khundii license held by Erdene Resources, where high gold-grades of up to 2200g/t have been located. To date the following exploration has been carried out.
- Extensive soil and river sediment sampling survey undertaken in the area
- Extensive rock chip survey of whole system
- Required: Further mapping of the quartz veins, trenching and drilling
The Tourmaline Pipe target is located within the purple box. Local fault systems are indicated by green, red and orange lines. High grade gold (Au - red/pink), copper (Cu - green) with Au grade in g/t and Cu grade in ppm are indicated.
3.87g/t Au, 5.87g/t Au, 4.27 Au, 3.35% Cu
A drilling campaign is planned for September 2018 to target the highest Au grade areas at Gun Zag and Tourmaline Pipe and determine the shape and size of the occurrences at depth.
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