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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (37543)	5/24/2009 11:03:08 AM
From: LoneClone	Read Replies (1) of 194999

New molybdenum deposits found in Bayankhongor , mongolia-web.com Wednesday, 20 May 2009 08:04 Mongolia Mining Explorations by Erdene Resource Development Corp. (TSX:ERD) of the Zuun Mod molybdenum/copper project has revealed 400 metre wide deposits of molybdenum in various locations at the site. This new information adds to an initial resource estimate, reported in May 2008, which totaled 110 million tonnes averaging 0.061% molybdenum. Molybdenum is an essential element added to strengthen iron for use in commercial products. Located only 200 kilometres from China's border in Mongolia's Bayankhongor Province, the Zuun Mod project covers an area of 12 kilometres in circumference. The project is wholly owned by Erdene. Further, the Zuun Mod exploration license is due to expire in May 2010 and work has been proceeding to complete the requirements for a new application for a mining license. Under the Minerals Law of Mongolia, a mining license has an initial term of 30 years, renewable twice for 20 years each.

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