Steppe Gold Commences Drilling Programs
Steppe Gold Commences Drilling Programs
Ulaanbaatar, Mongolia – July 21, 2020. Steppe Gold Ltd. (TSX: STGO) (“Steppe Gold” or the
“Company”) is very pleased to provide an update on the commencement of exploration drilling and
trenching programs at the ATO Gold Mine and Uudam Khundii (“UK”) Gold Project.
ATO GOLD MINE
Three diamond core drilling rigs have commenced operations at the ATO Gold Mine. Recent drilling
has been focused on high grade depth extensions under the ATO1 Deposit which is currently being
mined by Steppe Gold. All three rigs are now located at the Mungu Discovery where drilling is
underway with the aim of delivering an initial resource calculation.
1. ATO GOLD MINE / Mungu discovery site
2. Mungu Discovery Drilling Site
3. Mungu Discovery Drilling Site
UUDAM KHUNDII GOLD PROJECT
The Uudam Khundii Gold Project is comprised of one exploration license covering 14,400 hectares in
Bayankhongor province, Mongolia. The land package represents one of the largest exploration
licenses in the Bayankhongor Gold Belt. The license is in a highly prospective location between and
adjoining the Bayan Khundii gold deposit and Altan Nar gold deposit owned by Erdene Resource
Development Corporation (ERD – TSX).
The Company has already commenced initial exploration activity on four previously identified gold
discoveries, including geological mapping, geochemical sampling, geophysical surveys, rock chip
geochemical sampling, and trenching. Initial trenching results should be available in the coming
months and this will be followed by an active drilling program through to the end of the year.
Bataa Tumur‐Ochir, President and Chief Executive Officer of Steppe Gold, stated, “We are very excited
to commence our 2020 exploration program at the ATO Gold Mine and the exciting Uudam Khundii
Gold Project. With the ATO Gold Mine now successfully in production, we are looking to further define
and update the fresh rock resource and in‐house feasibility study to expand operations to
approximately 150,000oz of gold per annum We look forward to updating all our stakeholders and
shareholders on our progress.”
Qualified Person
The technical content of this news release has been reviewed and approved by Enkhtuvshin
Khishigsuren as the Qualified Person.
Mineralization occurring at the mines, deposits, and discoveries listed above owned by third parties
is not necessarily representative of mineralization that may be found on projects held by Steppe Gold
described within.
Steppe Gold Limited
Steppe Gold is Mongolia’s premier precious metals company.
For Further information, please contact:
Matthew Wood, Executive Chairman
Bataa Tumur‐Ochir, CEO and President
Shangri‐La office, Suite 1201, Olympic Street
19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Tel: +976 7732 1914
Cautionary Note Regarding Forward‐Looking Statements:
The above contains forward‐looking statements that are subject to a number of known and unknown
risks, uncertainties and other factors that may cause actual results to differ materially from those
anticipated in our forward‐looking statements. Factors that could cause such differences include:
changes in world commodity markets, equity markets, costs and supply of materials relevant to the
mining industry, change in government and changes to regulations affecting the mining industry.
Forward‐looking statements in this release include, among other things, statements regarding the
trading of the Common Shares and business, economic, and political conditions in Mongolia. Although
we believe the expectations reflected in our forward‐looking statements are reasonable, results may
vary, and we cannot guarantee future results, levels of activity, performance or achievements. We
disclaim any intention or obligation to update or revise any forward‐looking statements whether as a
result of new information, future events or otherwise, except as required by applicable laws