The Khangai Fault lies within the up to 200km wide Mongol-Okhotsk suture zone that stretches 3,000km into Russia.
Through its 100% owned Mongolian subsidiary Golden Cross, General Mining can earn up to a 60% interest in the Oyut Tolgoi copper project by meeting certain expenditure obligations before February 2013, reports Proactive Investors.
The Oyut Tolgoi showed potential extensive copper mineralization hosted in gabbroic rocks during the surface exploration and diamond drilling in the mid -1970s at the prospect.
The company is targeting nickel, copper and platinum group elements within gabbro-mafic-ultramafic intrusions along the Khangai Fault where it holds five granted licences.
The joint venture agreement allows the company exposure to 154,610ha along the Khangai/Bulnay Fault.
General Mining is targeting nickel, copper and platinum group elements within gabbro-mafic-ultramafic intrusions along the Khangai Fault.
The Khangai Fault Project, in which the company holds five licenses, is considered prospective because of its proximity to Oyut Tolgoi where there is the presence of copper-nickel-cobalt-platinum group elements mineralisation.
