Gene Wusaty, Chief Operating Officer of SouthGobi Energy Resources
Ltd. (TSX VENTURE: SGQ), is pleased to announce today that the
company has received an initial independent National Instrument
43-101 compliant resource estimate for its Mamahak coal project in
East Kalimantan, Indonesia.
The SW and E resource blocks on the MCM concession contains
measured plus indicated coal resources of 12.2 million tonnes, with
an additional inferred coal resource of 5.2 million tonnes. A
recent bulk sample from the SW resource block within the MCM
concession has confirmed high-volatile metallurgical coking coal
amenable to surface mining.
The Mamahak Joint Venture is comprised of four concessions
totaling approximately 22,976 hectares, which are all located in
the Haloq coal bearing formation. The coal found in this formation
is generally of a quality rank ranging from sub-bituminous to
bituminous with low moisture content and high fluidity values. The
SW and E resource blocks cover approximately 638 hectares,
approximately 3% of the total land area of the four concessions.
Reconnaissance and initial field mapping has started over the
larger project area. The company believes the area has the
potential to host significant metallurgical coal resources.
Positive exploration results on the SW and E blocks prompted the
company to increase its working interest to 85% in September,
2008.
"Our first drilling program has been a resounding success," Mr.
Wusaty said. "This initial resource estimate and high coal quality
for the SW and E blocks is very encouraging as it's based on only a
fraction of the total land area of our concessions. The resource is
wide open for significant expansion."
On January 7, 2009 SouthGobi Energy Resources obtained a
Location Permit from the local Government in East Kalimantan,
allowing the company to commence surface coal mining of the SW
deposit. SouthGobi is planning to initially develop the SW Block
which is the closest deposit to the Mahakam River.
Table 1: Mamahak In-Place Coal Resources Summary as of January 19, 2009
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Resources at Mamahak
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ASTM Coal Measured Indicated Inferred
Resource Area Rank (tonnes) (tonnes) (tonnes)
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E (1, 2, and 3) hvA 4,986,000 7,296,000 2,657,000
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SW hvA 2,611,000
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Total 12,282,000 5,268,000
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The resource model and estimations were developed using the MINEX
geological and mine planning software system, a worldwide industry proven
system used primarily for coal mining operations. Resources are based upon
true relative density estimates derived from laboratory analysis. The
tonnage is based on the air dried Relative Density (RD).
The independent resource estimates were prepared by PT SMG
Consultants of Jakarta, Indonesia. The Mamahak E (1, 2, and 3) and
SW resource estimates were prepared in conformance with the
requirements set out in Canada's National Instrument 43-101. The
resource estimates have been calculated to JORC (Joint Ore Reserves
Committee) standards, which in relation to these deposits classify
the same measured, indicated and inferred resource areas as
National Instrument 43-101. A NI 43-101 technical report is
expected to be filed within 45 days.
The resource estimates are based on 220 drill holes completed
between March 2008 and November 5, 2008. Further drilling and bulk
sampling of "on-strike" extensions is continuing on both
blocks.
SouthGobi has an 85% working interest in the Mamahak Joint
Venture and has provisions in the joint venture agreement to
increase its working interest to 100%. The Mamahak Coal Project is
ideally located to supply the Japanese, Korean, Indian and Chinese
coastal markets and complements SouthGobi's established operating
coal mine, Ovoot Tolgoi in southern Mongolia.
Data Verification
This report is based upon supplied data from PT Mamahak Coal
Mining. PT SMG Consultants undertook random audits of data
acquisition and preparation procedures for adherence to standard
operating procedures as defined by PT SMG Consultants. Upon
completion of a drill hole, the geological and geophysical logs
were reviewed by a SMG geologist. All geological, geophysical, and
sampling data were entered and maintained in an electronic
database. All mapping was entered and maintained in electronic
format. Data entry of all geological data was managed by PT SMG
Consultants at the project site and their Jakarta office.
Coal-quality testing results from accredited laboratories were
added into the database in the Jakarta office.
While every precaution has been taken in the compilation of this
data, the Qualified Person has no control over data sourced from
others outside audit periods. Consistency checks between data from
audited and unaudited periods do not reveal any underlying
inconsistency or error.
Qualified Person
Mark Manners, a geologist with PT SMG Consultants and a
Qualified Person as defined by NI 43-101, has reviewed the data
underlying the resource estimate and approved the technical and
scientific information pertaining to Mamahak contained in this
release. Mr. Manners is unaware of any environmental, permitting,
legal title, taxation, socio-economic, mining, metallurgical,
infrastructure, marketing or political issues which the estimate
may be materially affected by.
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 its Eocene-age
metallurgical and thermal coal deposits in East Kalimantan,
Indonesia. The company's flag-ship coal mine, Ovoot Tolgoi, is in
production and selling coal to customers in China. 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.
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, the company's plans to initially develop the SW
Block, the potential to host significant metallurgical coal
resources, the potential for significant expansion, 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 nine months ended September 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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