ATO sits regionally within the Devonian through Late Jurassic Mongol-Okhotsk tectonic collage that has been emplaced along a transform-continental margin of the North Asian Craton (NAC). A number of Late Jurassic-early Cretaceous broad, gold-bearing mineral belts have been recognized in eastern Mongolia. ATO is located north of the Main Mongolian Lineament (MML), and midway along the NNE trending 600km long Onon base and precious-metal province that crosses eastern Mongolia. Though ATO presently represents the only well-explored gold deposit in this part of Mongolia, a large number of minor gold occurrences have been recognized throughout the region.

The geology of the ATO Project region consists of metamorphosed Devonian sedimentary rock overlain by a volcanic and sedimentary sequence of Permian age and remnant scraps of probable Jurassic volcanoclastic units, intruded by Jurassic plutons ranging from diorite to granite in composition and including rhyolitic phases mainly as dykes.

Mineralisation: The ATO deposit is an epithermal gold and polymetallic deposit of transitional sulphides in breccia pipes in a Mesozoic continental rift zone in eastern Mongolia. It could be characterised as an intermediate sulphidation system. Up to 2017 exploration focussed on three gold, silver and base metal mineralised sub-vertical pipes (Pipes 1, 2 and 4) spaced ~300 m apart on a WNW trend. Another pipe (Pipe 3) exists just west of the others but is not mineralised. Sub ........

The mining method at ATO is a conventional open pit operation with rigid body mining trucks, hydraulic excavators, and wheel loaders. The Project consists of two (2) separated mining areas: the ATO and the Mungu Pits. Only open pit mining is considered in the current mine plan; however, the Mungu deposit has additional Resources at depth which are out side the current mine plan. Therefore, there is an opportunity for the Mungu Pit to be expanded to an underground mine once the open pit reserves are depleted.

All mining activities to date have occurred in the initial three ATO pits. Mining has been focused on extracting the oxide ore in these areas. No mining has commenced at Mungu.

Steppe Gold has contracted 2, mining contracting companies who are based in Mongolia, to undertake ore and waste mining at ATO under a three year, bcm rate based contract which includes drill and blast activities.

The oxide ore will be transported by truck from the pit to the leach pad, and the transition and fresh ore will be transported by truck to either a stockpile or the mill. Waste material will be deposited in waste stockpiles.

Ore sent to the mill is a combination of transition and fresh material; however, there is no need for a particular blend of these ores. Marginal ore (above the marginal COG, but below the mining COG) will be mined and processed throughout the LOM to supplement leach pad and mill feeds. The mine will operate year-round, sev ........

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