ULAANBAATAR, MONGOLIA--(Marketwire - Jan 30, 2013) - Undur Tolgoi Minerals Inc. ("UTM" or the "Company") (CNSX:UTM) is pleased to update shareholders on the Company''s most recent work program carried out in September and October 2012 on the Company''s Undur Tolgoi property.
This work consisted of a field-mapping program designed to achieve the following:
- Geologically map the contact between the granitic pluton and the calcareous host rock that our previous sampling program identified as anomalous in Pb, Zn, Ag and Au
- Duplicate assay results from previous sampling
- Identify zones of alteration and mineralization
- Take appropriate additional samples for geochemical and ASD (PIMA) analysis
During the field program 58 rock samples were taken over areas of interesting boundaries, alterations, mineralisation and lithologies. The samples were sent to ALS in Ulaanbaatar for analysis of 44 elements plus gold. The table below shows the most promising assay results.
|SAMPLE||Ag ppm||Pb ppm||Zn ppm|
The mapping project carried out in the 4th quarter of 2012 indicates that the UTM property and the surrounding area have undergone significant plastic and brittle deformation, resulting in many generations of folds and faults.
The sampling work carried out to date indicates that many areas of the tenement have anomalous base metal (Cu, Pb, Zn Ag) and gold signatures. All of the anomalous metal results encountered in rock chips have been discovered in and around quartz/calcite veins, indicating mineral-rich fluids at UTM.
Recommended Geophysical Program
An IP program is warranted over the northwest corner of the tenement to test a magnetic and gravity high. Four IP lines are recommended over the magnetic and gravity anomaly to test for sulphides hosted in quartz veins at depth, for a total of 13.7 line kilometres. The budget for this work is approximately $25,000. Further work will be proposed after the results of the IP program have been received and analyzed.
About Undur Tolgoi
UTM is a mineral exploration company entirely focused on Mongolia, and which through its wholly owned subsidiaries, owns 100% of the "Undur Tolgoi" mineral exploration license. This license consists of 9,620 hectares of property situated 100 kilometers from the world-scale Oyu Tolgoi copper and gold mine. In addition, UTM''s management is actively reviewing potential acquisitions and strategic industry alliances.
Disclaimer for Forward-Looking Information
Statements containing forward-looking information express, as at the date of this news release, the Company''s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.
Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.