Intl. Pursuit gains Mongolian assets

Landlocked and oft-ignored Mongolia has become a major focus of International Pursuit (IPJ-T).

Through subsidiary companies, Pursuit has acquired a significant property portfolio in the Asian country, primarily in the south-central region, where the Bayanhongor gold belt is situated. The assets include direct and indirect interests in exploration licences.

Mongolia’s geologic terrain features several environments conducive to the development of bulk-tonnage gold deposits, such as: epithermal gold; basin and range (Carlin); intrusive-related stockwork and vein type; and skarn gold.

According to Pursuit, little modern exploration for low-grade, bulk-tonnage targets has occurred in the country.

Meanwhile, Java Gold (JVAG-C), in which Pursuit holds a 19% interest, has made an offer to take over a private company, Mongolian Goldfields, which holds interests in several precious metal properties in Mongolia. Mongolian shareholders will receive one Java share for every share held, and if all Mongolian shares are sold, the number of issued and outstanding Java shares will increase by 35.9%.