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Vast water supply unearthed for Baruun Naran coal site |
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Tuesday, 03 June 2008 |
 QGX Ltd. (TSX:QGX) announced
Monday that it has confirmed the existence of nearby underground water
reserves to support both the industrial and drinking water required
for the Baruun Naran coal site in southern Mongolia
The water has been found following
drilling at Balgasyn Ulaan Nuur, some 45 km south west of Baruun Naran.
The 150 sq. km water site is part of an area initially studied in the
1980's when some 51 water exploration holes were drilled.
Paul Zweng, President/Chief
Executive Officer of QGX Ltd., noted, "The Balgasyn Ulaan Nuur
water resource satisfies 100 percent of the water requirements for our
coal project at Baruun Naran. The quality of the water is very good,
requiring little-to-no treatment prior to use at the mine. In addition,
the development costs of the resource should be favorable because the
water resource is shallow--the average depth of the water bores is only
70 meters.”
Company officials stressed
that the key to the success for its water exploration program has been
the close cooperation that exists between QGX and the community in the
Baruun Naran area. From the early stages of the project, said officials,
the company has closely consulted with the community to ensure that
the project was fully understood and accepted by all parties.
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