Cloudified Holdings Limited Regulatory News (CHL)

28 Feb 2008 09:44

Churchill Mining plc28 February 2008 Churchill Mining plc ('Churchill') Spitfire Update - Spitfire Increases East Pilbara Land Holding Churchill Mining Plc is pleased to draw shareholders' attention to the followingupdate released by Spitfire Resources Limited ('Spitfire') on the ASX, in whichChurchill holds a 40.1% interest. • Applies for new 899 square kilometre ground package • New ground lies 13 km south-east of South Woodie Woodie Project • Geological interpretation indicates potential to host strike extensions of manganese corridor Australian exploration company Spitfire Resources Limited (ASX Code: SPI) ispleased to advise that it has moved to secure a substantial portfolio of newexploration tenure near its South Woodie Woodie Manganese Project, more thandoubling its existing land holdings in the prospective East Pilbara region ofWestern Australia. The Company has lodged applications for four strategic tenements, covering atotal area of 899 square kilometres, which are located approximately 13kmsouth-east of the South Woodie Woodie Project. Some of the new ground package abuts tenements managed by Consolidated Minerals,which was recently acquired by Ukrainian group Palmary Enterprises. Spitfire selected the ground after completing interpretive geological workillustrating that the area to the south east contains strike extensions of apotential corridor of manganese host rocks. Until now the area applied for has been subjected to very little modernexploration, partly due to transported sands obscuring some of the geology.Spitfire has consequently begun to investigate the use of geophysics as a meansto identify the extent of these units and their potential to host manganesemineralisation. Spitfire's existing South Woodie Woodie Project comprises three grantedExploration Licences covering an area of approximately 490 square kilometres. The Company plans to drill its first targets at South Woodie Woodie at thebeginning of this field season. In parallel with this drilling program, Spitfirewill also undertake an expanded regional mapping program to deliver a pipelineof targets for further drilling. ENDS The information in this release relating to exploration is based on informationcompiled by Mr. N. Cull. Mr. Cull is Exploration Manager for Spitfire ResourcesLtd, and consents to the inclusion in this report of the information aspresented. He has sufficient experience relevant to the style of mineralisationand to the type of activity described to qualify as a competent person. Enquiries: Churchill Mining Plc Blue Oar Securities Parkgreen CommunicationsManaging Director - Paul G. Mazak Romil Patel Justine Howarth+61 (0)8 9388 0377 +44(0)20 7448 4000 +44 (0) 20 7851 7480 paul.mazak@churchillmining.com Olly Cairns +61 (0)8 6430 1631 Notes to editors Churchill Mining Plc listed on AIM in April 2005. South Woodie Woodie Given the increased prospectivity of South Woodie Woodie, and Churchill'sincreasing focus on its Indonesian coal and coal bed methane projects, theCompany sold 80% of the project to Australian company Spitfire Resources Limited("Spitfire"). Spitfire, which listed on the ASX on the 12th December 2007, willhave the option to purchase the remaining equity in the project after spendingAUD$1.5 million on exploration. (See announcement 4 October 2007) The South Woodie Woodie project covers approximately 490 square kilometres inthe East Pilbara region of Western Australia, and sits approximately 400kmsoutheast of Port Hedland in the highly prospective Pilbara manganese province.Churchill has recently completed a heliborne versatile time-domainelectromagnetic geophysics programme and interpretive work, and a follow updipole-dipole IP survey which identified multiple drill targets. Sendawar - CBM The Sendawar Coal CBM project in Kalimantan, Indonesia, covers more than 800square kilometres of prospective ground and lies in close proximity to twooperating open-cut coal mines. The project is located approximately 50km fromthe Mahakam River. During Churchill's coal exploration programme, data collected during geophysicaland resitivity work, along with data collected from previous oil and gasexploration in the area; indicated that the area was highly prospective for CoalBed Methane. Churchill (70% of the CBM project) along with its Indonesianpartner RMU (30% of the CBM project) applied for and were granted Indonesia'sfirst CBM JEA license in September 2007. The CBM project has the potential tohost Gas-in-Place of 5.6 TCF. Churchill is currently conducting further studieson the CBM project before starting detailed field work. East Kutai Coal Project Churchill announced on 15 February 2007 that it had signed an ExclusivityAgreement with PT Techno Coal Utama to enable it to conduct due diligence workon the thermal coal project. In May 2007 Churchill announced a sales agreementhad been entered into to purchase a 75% interest in the Project, which has nowbeen finalised. Exploration and resource drilling continue at the project. This information is provided by RNS The company news service from the London Stock Exchange