- 16. 16 OORTSOG OVOO DEPOSIT • A significant historical body of exploration work exists on Oortsog Ovoo • 41 holes were drilled on the three zones depicted • A significant trenching program of 207 trenches was also conducted • Rock chip samples taken by Mogul also had high grades of copper ranging as high as 1.5%, 3% and over 6% • A total of eight mineralized zones have been identified, three of which have had a significant amount of exploration work • There is excellent potential for expanding resources through exploring the zones that have not seen limited work to date as well as areas in between zones
- 17. 17 GROUND MAGNETICS PROGRAM 1km 1km North Zone Middle Zone Central Zone Eastern Zone South-Eastern Zone Magnetic Intrusive? • TheVertical Gradient image above shows a strong linear dipole anomaly is associated with the three main segments which comprise the Northern Zone, which has been delineated to date by trenching and drilling over 1.2km of strike length. 0.5km • The Company contracted a detailed ground magnetic survey in June, 2013 covering a 3.5km by 4km area. • The RTP results (above) shows a significant number of magnetic anomalies were detected; many anomalies correlate with known zones while some require follow-up.
- 18. 18 2013 WORK PROGRAMS • Mogul conducted a 1,500 meter confirmation drill program in October of 2013 • The program focused only on the Eastern zone and a segment of the Northern zone of the system.These areas had the most detailed historical exploration with the resulting potential for rapid resource confirmation/delineation and near-term development • The program’s main objectives were: • Parallel drill (twin) select historic holes to confirm and correlate accuracy of historic work • Drill vertical and horizontal step out holes to delineate mineralized zones in detail • Conduct modern assays based on a +90% core recovery rates, which were achieved. This may result in an upside in tin grades compared to the historically reported resource average of 0.65% Sn • Improve the overall geological understanding of the deposits • Subsequent to this program, we believe that either the Northern or Eastern zone can be targeted for rapid exploration and development Photo: Drill rigs at the Eastern Zone of Oortsog Ovoo, magnetite core from drilling
- 19. 19 www.mogulvc.com 2013 WORK PROGRAMS • Drill core logs generally showed a good correlation in lithology, thickness and depth of orebody intersects where historical holes were twinned • Core from two drill holes were assayed so far with the following results: • DH# 1W intersected 81.6m averaging 0.63% Sn, with all samples >0.1% • DH# 70Q intersected 34.7m averaging 0.55% Sn, with all samples >0.1% • DH# 70Q was a twin hole for historic DH# 70 and compares favorably with the historically reported 56m averaging 0.47% Sn • The tin mineralization is associated with magnetite skarn with wide intervals of >20% Fe • The program generally confirms historical work on the sections of the deposits drilled in this program • It served to boost our confidence in historic work and ability to rely on it for further exploration, resource delineation and engineering work Northern Zone Eastern Zone
- 20. 20 GOALS AND OBJECTIVES EXPLORATION AND FEASIBILITYWORK • Confirm, expand and delineate resources focusing on the Northern and Eastern Zones • Metallurgical testing • Resource modelling and engineering work • Develop a PFS or BFS based on the most advanced mineralized zones by end of Q1 2015 www.mogulvc.com FASTTRACK DEVELOPMENT AND PRODUCTION • Mogul already has a Mining License • Pursuant to feasibility work, a small scale 500 tpd open pit operation can be built by Q4 2015 EXPANSION • Expand production from 500 tpd to 2,000 tpd within the next 2-3 years • Conduct additional exploration to increase resources at Oortsog Ovoo with the goal of making it a +100 kt of contained tin project with additional credits for other metals • Look at acquisition opportunities aimed at consolidating and growing Mongolia’s tin sector
- 21. 21 TIMELINE www.mogulvc.com Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Geochemistry for Drilling Program Planning for 2014 Work Program PQ Diamond Drilling for Metallurgy Blasting and Trenching - Bulk Sample for Metallurgy Preliminary Metallurgical Testing NQ drillilng for Deposit Confirmation Geophysics Resource Modelling Additional Metallurgy and Process Design Mine and Site Engineering, Economic Study Environmental Baseline Feasibility Study 2014 2015 Item
- 22. 22 COAL PROJECT • Mogul’s license also contains a large coal system consisting of two deposits: Ovdog Hudag and Ikh Ulaan Nuur • Ovdog Hudag has a NI 43-101 Resource Estimate and Report by SRK Consulting which found: • Estimated Inferred Resources - 89.6 Mt* of Thermal Coal • 8 coal seams recognized – 4 fully mineable, 2 partially • Average Gross Calorific value – 5,636 to 6,431 kcal/kg (daf)* • Ovdog Hudag coal deposit historical resources, based on Russian drilling from the ‘60s and ‘70s, using a Russian Classification system and based on >85 drill holes: • 1968: C1+C2 resources totalling 201.2 Mt*1 • 1970: B+C1+C2 resources totalling 168.2 Mt*1 • Ikh Ulaan-Nuur coal deposit is located 7km NNE of Ovdog Hudag and was defined by Russian drilling in the ‘60s and ‘70s • 1970:A+B+C1+C2 resources totalling 86.4 Mt*1 • Excellent potential for additional coal resources to be delineated in the undrilled area between Ovdog Hudag and Ikh Ulaan-Nuur • Open pit accessible coal resources with expected low strip ratio * Ovdog Hudag Coal Deposit – NI43-101 Report by SRK Consulting, June 30, 2012 *1 SRK Consulting External Technical memo, May 28, 2011; “Technical Report on the Coal Resources of the Ovdog Hudag Coal Deposit Dundgovi Province, Mongolia” prepared by Flora Tungalag www.mogulvc.com
So , Mogul Ventures Corp & the new Spain acquisition.
Things may well get Interesting.
Good luck All