Highlights
- Jade confirms its second largest gassy coal intersection in a single well with 104.6 metres gassy coal intersected at Baruun Naran-3 (BNG-3)
- The result highlights the massive potential for commercial scale gas production within the Company’s established 40km gas field across TTCBM and Baruun Naran
- The Company intends to accelerate the path to securing a Production Sharing Agreement (PSA) and for the conversion of 2U Prospective Resources to 2C Contingent Resources in the BNG permit
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Jade Gas Holdings (ASX:JGH, Jade or the Company) is pleased to confirm continued outstanding results at its Baruun Naran permit area, adjacent and west of the TTCBM permit in the south Gobi region of Mongolia.
Baruun Naran Opportunity
Jade holds a Prospecting Agreement Permit over the Baruun Naran coal field (BNG Project) with joint-venture partner Khangad Exploration LLC (Khangad), a subsidiary of Mongolia Mining Corporation (MMC), a public company listed on the Hong Kong Stock Exchange. The Baruun Naran coal field is located immediately adjacent and west of Jade's TTCBM Project. The BNG permit has an active coal mine within it, along with substantial data gathered from historic coal mine drilling.
Jade has recorded its second largest intersection with 104.6 metres of gas bearing coal recovered from BNG-3, reaching a total depth of 849.8 metres with multiple gassy coal seams intersected including the last seam which was 28.5 metres thick. The coals are currently undergoing desorption testing.
The first two wells at Baruun Naran recovered 35 metres of gassy coal (BNG-1) (see ASX Release 8 November 2022), and 26 metres of gassy coal (BNG-2) (see ASX Release 13 December 2022).
Jade has identified Baruun Naran as a critical area for expedited drilling as a part of its CY2024 plans. This result will be used for the conversion of 2U Prospective Resources to 2C Contingent Resources in the BNG permit, and to support an accelerated path to securing a Production Sharing Agreement (PSA) in 2024.
View the full ASX Release here: https://bit.ly/46ZU0wM
For Company or Media inquires, please contact:
Elvis Jurcevic
Investor Relations
+61 408 268 271
[email protected]
Dennis Morton
Executive Chairman
+61 412 995 696
[email protected]
