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Khan’s assets consist of its interest in the “Dornod
Uranium Property”, which is held through a 58% interest in the Main
Dornod Property (mining license 237A) and a 100% interest in the
Additional Dornod Property (exploration license 9282X).
Significant uranium mineralization was first
discovered in 1972 by a Russian Geological Expedition, which led to the
start of open pit mining in 1988. From this time until 1995, some
590,00 tonnes of ore grading approximately 0.1%U was hauled 550 km by
rail to a uranium processing facility at Krasnokamensk in Russia.
During this time another underground deposit was developed but before
any mining had taken place, all the operations were placed on stand-by
and no further mining has occurred since 1995.
Because the property was extensively explored and
developed by the former Soviet Union, the bulk of Khan’s work has
concentrated on verification and infill drilling plus core sampling for
metallurgical test work.
A number of NI 43-101 reports have been compiled on
the Dornod Uranium Property, with the latest one, completed in March of
2009, confirming the excellent viability of the project.
The Management of Khan plan on developing a producing
uranium mine at Dornod that will include a modern “state-of-the-art”
milling and processing facility. Production will average approximately
3.5 million lbs of U3O8 annually over a mine life of 15+ years.
The combination of the access to hungry markets, the
low cost of production and the surety of the uranium deposits makes
Dornod a tremendous opportunity.
For the full
NI43-101 report
click here. |
