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Aranjin Resources Announces Joint Venture on New Mongolian Copper & Nickel Discovery
Ulaanbaatar, Mongolia--(Newsfile Corp. - February 1, 2022) - Aranjin Resources Ltd. (TSXV: ARJ...
About this update from Trinity One Metals Ltd.
[{"type":"text","content":"Aranjin Resources Announces Joint Venture on New Mongolian Copper & Nickel DiscoveryUlaanbaatar, Mongolia--(Newsfile Corp. - February 1, 2022) - Aranjin Resources Ltd. (TSXV: ARJN) (\"Aranjin\") is very pleased to announce that it has have entered into a term sheet agreement (the \"Term Sheet\") which sets out the terms for an exploration joint venture with ION Energy Ltd (the \"Joint Venture\"). The Joint Venture will consist of both Parties granting one another reciprocal exploration rights on their respective exploration licences within Mongolia.Both ION and Aranjin will leverage one another's expertise in their respective metals, with Aranjin being granted a right to explore ION's properties for base metals (including copper, lead, zinc, nickel, cobalt and associated metals), and ION being granted a right to explore Aranjin's properties for lithium. This structured approach is aimed at enlarging both Parties' exploration area within the mineral rich regions of Mongolia, thus ensuring that both ION and Aranjin maximize their chances of carrying a property to the development stage. The area covered by the Joint Venture consists of all mineral rights in Mongolia currently held by the Parties, which consists of the Sharga Project, the Bayan Undur Project, the Baruun Tal Project (pending final purchase), the Baavhai Uul Project, the Urgakh Naran Project and all mineral rights acquired by the Parties in Mongolia after the date of entering into the Joint Venture.Highlights: Maiden auger drill program was completed in the fall of 2021 at ION's Baavhai Uul project and included 222 auger holes for a total of 1,304.5 metersTo date, only 50% of the assay samples have been returned Initial drilling results are highly encouraging with a new Copper and Nickel discovery at the center of the Baavhai Uul licence Drill hole AU-83 returned results of up to 2,150 ppm Nickel from 5.0 to 5.5m depth in clay samples and average 202 ppm Nickel. Numerous auger holes with over 200 ppm and up to 480 ppm Nickel were assayed in the eastern area of the licence and these will be subject to follow up infill drilling programs Drill hole AU-85 returned up to 570 ppm Copper from 2.5-3m depth and averaged 103 ppm Copper. seven auger holes that were drilled in the eastern part of the licence returned over 100 ppm CopperThe copper geochemical anomaly is over 4 sq ...