Coal resource and reserve upgrade for Ovoot Coking Coal Project - Aspire Mining: "Aspire Mining Limited announced that it has received an updated JORC Code (2004) Compliant Open Pit Coal Resource statement from Xstract Mining Consultants Pty Ltd for its 100% owned Ovoot Coking Coal Project.
Highlight;
1. Resource re modelling completed by Aspire using all quality data from the 2012 drilling program and data from adjacent operating Mogoin Gol Mine;
2. Ovoot Open PitJORC Code (2004} Coal Resources have increased by 103%, or 23.7 MT to 253.1 MT. Underground JORC Code (2004) Coal Resources remain unchanged at 27.9MT bringing the total Coal Resources for the Ovoot Project to 281 MT{197 MT Measured, 72.3 MT Indicated, 11.8 MT Inferred);
3. Ovoot Project Probable Coal Reserve tonnes is increased by 34 MT to 255 MT ROM at a total moisture of 2%;
4. Probable Marketable Coal Reserve (JORC Code 2004), increased by 8 MT to 188 MT at a product moisture of 95%;
5. ROM Strip Ratio improved from 9.1:1 as estimated in the Pre feasibility study, to 7.7:1; and
6. The Ovoot Project is confirmed as Mongolia's second largest Coking Coal Reserve."
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