Results from a magnetic survey at Haranga Resources’ (ASX: HAR) Sumber iron ore project have unveiled the discovery of a large, intense magnetic anomaly.
The survey reveals that the anomaly has a strike length of approximately 4 kilometres and is coincidental with the three distinct iron outcrop zones previously located.
The company intends to drill this new target in early 2011. An additional magnetic anomalism has been found further to the west, providing a secondary target area.
The project is strategically located less than 50km from the Chinese border crossing at Hangi Mandal in Mongolia.
The licence is 64km2 in area and lies adjacent to the Agaruut iron ore development.
Haranga Resources manages and holds a majority ownership in five promising Mongolian iron ore projects.
A magnetic survey of the Selenge project area is also currently underway and a first pass reverse circulation drill program at the Shavdal project is scheduled to commence in January 2011.