SouthGobi Energy Resources Discovers New Coal Occurrence 10 Kilometres Southeast of Its Producing Ovoot Tolgoi Mine
08 Ottobre 2008 - 2:30PM
Marketwired
Gene Wusaty, Chief Operating Officer, Coal Division of SouthGobi
Energy Resources Ltd. (TSX VENTURE: SGQ), announced today that the
company has discovered a new coal formation 10 kilometres southeast
of the company's producing Ovoot Tolgoi coal mine. The new coal
discovery is approximately 33 kilometres (approximately 20 miles)
north of the China-Mongolia border (see www.southgobi.com for
location map).
The new coal occurrence was discovered through field
reconnaissance work. Two trenches approximately three metres deep
have been excavated and multiple seams have been uncovered with up
to 15 metres of apparent thickness. To date, the coal field has
been defined over a strike length of approximately 1,800
metres.
Based on the successful trenching results, a drilling program
has commenced. Initial results have identified multiple coal seams
up to 18 metres in apparent thickness. The intent of this initial
drill program is to determine the coal structure as well as coal
quality. Coal quality results are pending.
"This additional discovery of coal in close proximity to our
operating mine, Ovoot Tolgoi, significantly enhances the scope of
our coal development potential," Mr. Wusaty said. "The discovery is
particularly important due to its close proximity to the Chinese
border."
SouthGobi Energy Resources recently commenced coal deliveries
from its Ovoot Tolgoi Mine to customers in China.
Gene Wusaty, SouthGobi Energy's Chief Operating Officer, Coal
Division, a qualified person as defined by National Instrument
43-101, supervised the preparation of the technical information in
this release.
About SouthGobi Energy Resources
SouthGobi Energy Resources is focused on exploration and
development of its Permian-age metallurgical and thermal coal
deposits in Mongolia's South Gobi Region and East Kalimantan,
Indonesia. The company's flag-ship coal mine, Ovoot Tolgoi, is in
production and operating on a 24-hour basis. The company plans to
supply a wide range of coal products and electricity to markets in
Asia. The company also is investigating the implementation of
clean-coal technologies in the development of coal power-generating
capacity to benefit all of its stakeholders.
The company's metals division is focused on the exploration and
development of its copper and gold projects in Mongolia and
Indonesia.
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, the company's future ability to supply coal
products and electricity to markets in Asia, and other statements
that are not historical facts. When used in this document, the
words such as "could", "plan", "estimate", "expect", "intend",
"may", "potential", "should", and similar expressions are
forward-looking statements. Although SouthGobi Energy Resources
believe that the expectations reflected in these forward-looking
statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important
factors that could cause actual results to differ from these
forward-looking statements are disclosed under the heading "Risk
Factors" in SouthGobi Energy's Management's Discussion and Analysis
of Financial Condition and Results of Operations for the three
months ended June 30, 2008, and its Annual Information Form dated
March 28, 2008 which is available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SouthGobi Energy Resources Ltd. Steven Feldman
Investors (604) 681-6799 SouthGobi Energy Resources Ltd. Bob
Williamson Media (604) 681-6799 Website: www.southgobi.com
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