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TerraCom discovers new coal deposit 12 kilometers south of Baruun Noyon Uul mine

TerraCom Ltd. said June 6 that recent exploration uncovered a new Permian coal deposit 12 kilometers south of its Baruun Noyon Uul coking coal mine in Mongolia, dubbed BNU South.

The company has drilled 5 kilometers of strike so far, with intersections of up to 122 meters of total gross coal. Phase 1 drilling comprised 42 drillholes.

Quality sampling and modeling and phase 2 drilling are underway with a goal of accelerating the development of the deposit by early in the fourth quarter.

TerraCom prioritized an area for drilling measuring 600 meters by 300 meters.