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Asian Activities Report for July 18, 2011: TVN Corporation (ASX:TVN) Discovered 137 Metre Thick Coal System in Mongolia
Asian Activities Report for July 18, 2011: TVN Corporation (ASX:TVN) Discovered 137 Metre Thick Coal System in Mongolia
Sydney, July 18, 2011 AEST (ABN Newswire) - The Asian markets had a mixed opening. The S&P/ASX 200 lost 0.15% to 4467 in early trade. Nikkei 225 performed positively, up 0.39% to 9,974.47. Hang Seng Index rose 0.68% to 22023.59, while Shanghai Composite gained 0.05% to 2821.70.

Company News

TVN Corporation Limited (ASX:TVN) has intersected a coal system of 137 metre thick at Nuurst Project in Central Mongolia. The Company will commence further drilling to determine the nature and extent of this coal system. The Project has an initial exploration target of 50-100 million tonnes, which is expected to be upgraded on completion of further drilling and trenching work over the coming months.

Hunnu Coal Limited (ASX:HUN) has received a mining licence for the Tsant Uul Project in Mongolia. The mining licence has been granted for an initial term of 30 years with an option for twenty years extension twice, providing a total of 70 years of mining operations. The Project has a current JORC compliant resource of 90 Mt. Mining is expected to commence in the last quarter of 2011, targeting initial production of 1.5Mt of coal in 2012 and 3Mt in 2013.

United Uranium Limited (ASX:UUL) has commenced drilling at its McArthur River Project in Northern Territory. This initial drilling program will test the T1 target area. Airborne electromagnetic survey completed in 2009 indicated that the T1 area may contain massive sulphide mineralisation.

Exalt Resources Limited (ASX:ERD) has completed extensive geophysical surveys on its 100%-owned Mineral Hill South Project in New South Wales. The surveys have highlighted a number of promising anomalies and provide immediate drilling targets. Exalt's Mineral Hill South Project is adjacent to Kimberley Metals Limited's (ASX:KBL) recently discovered Pearse South Deposit which has Proven and Probable Reserves of 235,240t at 6.72g/t Au and 71.7g/t Ag.

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Related Companies

United Uranium Limited             
TVN Corporation Limited      
KBL Mining Ltd          
Hunnu Coal Limited             
Exalt Resources Limited     

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