Some info on JORC requirements, as taken from one of Hunnu's old...

Some info on JORC requirements, as taken from one of Hunnu's old PDF's (to help define requirements for Draig's drilling and Geo team):

"The Tsant Uul Coal Resource has been classified and reported in accordance with the 2004 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Resource classification is based on confidence in the geological domaining, drill spacing and geostatistical measures.
A range of criteria has been considered in determining the classification including:
• Geological continuity;
• Data quality;
• Drill hole spacing;
• Modelling technique;
• Estimation parameters including search strategy, number of samples, and average distance to samples.
Based upon these considerations Coal Resource categories Measured, Indicated and Inferred were defined. Each classified resource area must contain at least 2 points of observation .i.e. there are no resources classified around a single drill hole intersection. The classification process was based upon interpolation distance and minimum samples within the search ellipse as defined by a Minescape macro as follows:
• Inferred – if the average weighted sample distance was greater than 400m and less than 400m ( Radius 400m);
• Indicated - if the average weighted sample distance was between 200m and 200m (Radius 200m);
• Measured - if the average weighted sample distance was less than 100m (Radius 100m)."


Interesting to note the comparison of the geology noted for this particular licence, is so similar to that noted in our BTE-003 !
"Coal measures at TUP are hosted within the Upper Permian age sedimentary rocks of the Tavan Tolgoi Formation (Figure 2). The coal bearing sequence consists of sandstone, siltstone, shale and coal measures with thin gravel, conglomerate, coaly shale and rare limestone layers."
See page 19 of the NGS report: Oct 2011.
Potential to be revealed before too long I feel.

At the stage that Hunnu were taken over by Banpu, they had $16 mil in cash, for entity worth some $446 mil.

Cheers :)