The 85%-owned Ereen gold exploration project situated some 130km north of Ulaanbaatar, in the centre of Mongolia’s historic mining district, has a JORC-compliant gold resource estimate of 773koz. The project area is comprised of five mining licence areas covering 30km².
The target area consists of a continuous gold mineralisation trend 1,500 metres long, 400 metres wide, and 20 to 30 metres thick. Suitable for open-pit mining, the project is located close to Centerra’s Gatsuurt (1.2Moz) and Boroo (1.2Moz) operating gold mines.
CAML has completed 11,673m of drilling since the acquisition of Ereen in 2007. A JORC-compliant resource statement at a 0.5g/t cut-off grade was prepared in 2010 and audited by Wardell Armstrong International as shown in the table below.The asset is currently being held for sale.