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SouthGobi Energy Resources
Ltd. (TSX VENTURE:SGQ) announced the discovery of significant coal deposits
in Mongolia on Thursday.
The deposit was said to be
located ten kilometers southeast of the company's Ovoot Tolgoi coal
mine and 33 kilometers north of the China-Mongolia border.
Company officials said two
trenches, approximately three meters deep, have been excavated at the
site and multiple seams have been uncovered. Coal deposits have been
found to be up to 15 meters thick and running as long as 1,800 meters.
"This additional discovery
of coal in close proximity to our operating mine, Ovoot Tolgoi, significantly
enhances the scope of our coal development potential," Gene Wusaty,
Chief Operating Officer, Coal Division said. "The discovery is
particularly important due to its close proximity to the Chinese border."
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