Newera Resources to reveal drilling progress in Mongolia - News.MN

Newera Resources to reveal drilling progress in Mongolia

Old News! Published on: 2012.10.24

Newera Resources to reveal drilling progress in Mongolia

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Newera Resources (ASX: NRU) will update the market on the progress of its ongoing drilling program at its Shanagan East coal project in Mongolia and has gone into a trading halt while it prepares to release the information.

The company had earlier this month said that it had intersected two main, shallow coal seams totalling 26 metres in length at its Shanagan East Project in Mongolia.

The Shanagan Project comprises one exploration licence covering around 2,223 hectares in a known coal bearing region, 140 kilometres southeast of Ulaanbaatar.

The project is ideally located about 50 kilometres from an existing rail siding that services the nearby Baganuur lignite coal deposit, and connects to the trans-Siberian railway that services China in the South to Russia in the North.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 26th October.

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