UGL UGL provides Huren Tologoi final phase 1 drill assays
2004-11-18 15:01 ET - News Release
Mr. Arnold Armstrong reports
FINAL DRILL RESULTS-PHASE 1 PROGRAM; HUREN TOLOGOI PROJECT, MONGOLIA
UGL Enterprises Ltd. has released results of the remaining drill holes from the initial diamond drilling program on the Huren Tologoi project.
The Huren Tologoi property is located in central Mongolia, approximately 50 kilometres south of the provincial capital (Aimag) of Bayanhongor. In total 14 holes were drilled comprising 3,997.25 metres (m), for an average hole depth of 285.5 m. Deepest hole was PH-1 at 352.5 m and the shortest hole was PH-10 at 135.6 m.
Assay results from holes HT-1 and HT-2, and a portion of HT-3, have been released (see UGL news release in Stockwatch dated July 5, 2004) and showed widespread anomalous gold mineralization, indicative of a very robust gold-bearing system related to a large area of intense silicification and associated strong clay alteration of kaolinite and pyrophyllite in volcanic rocks.
Previous results have been released from hole HT-3 down to 101.00 m. Significant gold mineralization was intersected to a depth of 242.10 m in this hole, including a intersection from 212.65 m to 216.30 m, returning 6.09 grams per tonne (g/t) over 3.65 m, including 38.35 g/t over 0.5 m. A wide mineralized zone is indicated in hole HT-3 from 4.40 m to 224.0 m, returning 0.53 g/t over 219.60 m.
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