News

The company Altan Shar Tal was successful in tender on new exploration licences held on 4 January 2022.

Newly acquired licence XV-021883 Baga Berkh  was visited in September 2021. Strongly altered hydrothermal zones were revealed in the siliciclastic Palaeozoic sediments. Promising placer area with well-developed gravels was revealed in the southern part of licence.

Drilling for potential gold placer on two targets of the Undur Denj exploration licence was performed by Tanan Impex LLC. in August 2021. Altogether 409 m in 12 boreholes were drilled by reverse circulation. 96 of total 497 washed samples were positive for gold.

Altan Shar Tal LLC. won tender on exploration licence XV-021883 Baga Berkh in Khashaat soum in eastern part of Arkhangai aimag. Licence of area 2973,37 ha was issued by MRPAM on 16. August 2021 and is valid for three years.

In spite of COVID-19 pandemic we have successfully started this year exploration season with no delays. Our local geological team in co-operation with GEM Exploration LLC and Geo Oron resources LLC performed extensive exploration works from May to October 2020.

A regular LAMA ENERGY GROUP office was opened in Mongolia in May. There operates LAMA INVESTMENTS MONGOLIA LLC, the subsidiary which continues with the project for geological exploration and surveying exploration licences received in bids organized by the government agency of Mongolia (MRPAM).