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In Mongolia Khan Resources begins verification of uranium deposits |
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Monday, 14 May 2007 |
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Mongolia Web News, Ulaanbaatar. The Toronto-based Khan Resources
Inc. (TSX :KRI) has announced that it has begun its spring and summer exploration
program at the Dornod uranium project in northeastern Mongolia.
The exploration programs include
a gravity and ground magnetic survey to be completed and interpreted
during May. This will be followed by a minimum of six diamond drill
holes with a total of approximately 2000 meters of core to be extracted
during May and June.
These explorations are designed
to identify local basin areas within the granite that may contain uranium
deposits; to identify specific structures that may host uranium; and
to follow-up on sites identified in earlier studies.
"Depending on the outcome
from these two programs, follow-up drilling will probably be carried
out through the summer months in this prolific uranium camp", commented
Martin Quick, Khan's President & CEO.
Company officials believe an
initial evaluation of the site indicated the uranium deposit contains
16.5 million tons. Kahn reportedly owns 65 percent of the total deposit.
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