The Home of Big Copper
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 9,000ha.
The Sharga Project is located in the Sharga Soum of Gobi Altai Province and 80km from the Altai city. The project is situated only 20km 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 222.5m, 77 drill core samples, 921- line kilometres of ground magnetics, and 40-line kilometres of ground based electromagnetic geophysics.
- Proven in-country team – Management and Board of Aranjin have an unrivalled track record in developing and scaling mining projects – Hunnu Coal sold to Banpu Coal for $500M and Steppe Gold, now Mongolia’s top gold producer
- Highly prospective exploration portfolio – Two highly prospective copper projects in Mongolia, with another acquisition pending. Drilling commenced on both Sharga and Bayan Undur in Q2 2021. Sharga’s first drilling results released December 2021, with a best result of 15.4m at 1.33% Copper and 0.94 g/t Gold
- Compelling location for Copper Supply – China’s preferred source for copper will be Belt and Road countries like Mongolia. Strong supply chains for copper concentrate already established through Oyu Tolgoi. Sharga and Bayan Undur are close to the Chinese border
- Strong support for mining in Mongolia – Mongolia has elected another majority government with strong, pro-mining credentials and we expect another term of stable policies. We expect to see strong government support for the mining sector and supporting infrastructure