3 Jul 2012 07:00
3rd July 2012
EDENVILLE ENERGY PLC ("Edenville" or the "Company")
Namwele Drilling Results
Edenville Energy plc (AIM:EDL), the African coal exploration and development company, is pleased to announce that all the remaining results from the 2011 drill program at Namwele have now been received.
The Namwele Project lies 4km to the south east of the Mkomolo Deposit, where a JORC compliant inferred resource of 39 million tonnes of thermal coal was defined by Edenville earlier this year. Namwele hosts an old open pit mine which was previously worked on a small scale providing lump coal to industries located at Mbeya, some 300km to the south by road.
In late 2011 Edenville drilled eight vertical diamond drill holes close to the Namwele open pit and out along strike of the coal mineralisation. In total, 869.80 metres were drilled covering a strike length of 2.2 kilometres. Float & Sink analysis of the samples was conducted at the Inspectorate Laboratory in South Africa, with the analysis indicating the amount (per cent yield) and quality of coal that could be obtained from the deposit by mining and processing.
Hole No. | From | To | Interval | Moisture | Ash | Volatile | F.C. | Sulphur | Gross C.V. | Cumulative Yield |
(m) | (m) | (m) | % | % | % | % | % | MJ/kg | % | |
NM11-01 | 85.82 | 86.82 | 1.00 | 4.9 | 36.8 | 20.9 | 37.3 | 0.7 | 17.2 | 34.0 |
NM11-02 | 124.85 | 127.50 | 2.65 | 4.6 | 31.4 | 27.2 | 36.8 | 3.1 | 19.9 | 25.2 |
NM11-02 | 127.50 | 129.62 | 2.12 | 4.4 | 30.4 | 29.1 | 36.0 | 3.0 | 19.7 | 42.6 |
NM11-03 | Low quality intersections within coal measures intersected between 76.30 - 87.30m | |||||||||
NM11-04 | 28.00 | 28.61 | 0.61 | 4.5 | 30.5 | 30.1 | 34.8 | 5.5 | 19.8 | 73.4 |
NM11-04 | 28.61 | 31.61 | 3.00 | 5.2 | 30.3 | 29.5 | 35.0 | 5.5 | 19.5 | 23.0 |
NM11-04 | 31.61 | 32.60 | 0.99 | 5.2 | 33.1 | 27.0 | 34.7 | 3.6 | 18.8 | 24.3 |
NM11-05 | 79.05 | 81.45 | 2.40 | 5.7 | 27.5 | 30.1 | 36.7 | 6.1 | 20.3 | 62.3 |
NM11-05 | 82.52 | 83.98 | 1.46 | 5.7 | 35.2 | 26.0 | 33.2 | 3.2 | 17.9 | 29.7 |
NM11-05 | 85.00 | 85.79 | 0.79 | 5.7 | 35.2 | 26.0 | 33.2 | 3.2 | 17.9 | 29.7 |
NM11-06* | Abandoned above coal measures | |||||||||
NM11-07 | 91.10 | 92.21 | 1.11 | 5.2 | 34.4 | 29.2 | 31.2 | 6.0 | 17.9 | 100.0 |
NM11-07 | 92.21 | 93.62 | 1.41 | 4.8 | 30.6 | 29.3 | 35.3 | 7.2 | 19.1 | 26.4 |
NM11-08 | 103.68 | 106.50 | 2.82 | 5.4 | 32.4 | 27.0 | 35.1 | 6.4 | 18.5 | 40.9 |
Cumulative Results from Fractional analysis (Results are reported on an air-dry basis)
F.C. - Fixed Carbon, C.V. - Calorific Value
*NM11-06 was abandoned at 127.00m and did not reach the coal measures sequence.
The drill spacing was not close enough to produce a JORC-compliant resource tonnage estimate however results confirm the quality and continuity of coal mineralisation at Namwele. Drilling was conducted at the end of the field season and it is the intention of the company to return to Namwele to drill sufficient in-fill holes as to allow for a resource estimation to be undertaken.
The planned down-hole geophysics has been delayed to mid-July as the drill contractor has yet to deliver the correct equipment to site in order to flush clean the 2011 drill holes selected for geophysical logging. It is likely that additional down-hole geophysics will be undertaken during the course of the current drill programme.
In accordance with the AIM Rules, the information in this announcement has been reviewed by Mark Pryor, Managing Director of Edenville Energy PLC, a qualified geologist with over 25 years' experience.
Commenting today Simon Rollason, Chairman of Edenville, said; "The initial drill programme and sampling at Namwele has confirmed the presence of coal bearing strata extending out along strike from the previous workings and occurring at depth. These results provide the basis for follow-up drilling in 2012 which will enable a JORC compliant resource to be calculated for Namwele, adding to the overall coalfield resource tonnage. Edenville's field geologists are actively mapping and sampling the Namwele and Muze Deposits which will enable our team to accurately locate additional drillholes. Drilling is currently in progress at Mkomolo with the objective of upgrading and expanding the current resource. We look forward to providing further market updates during the field season as this exciting project continues to develop and grow. We remain fully funded to complete our planned programme for this year."
Contact:
Edenville Energy plc | |
Simon Rollason - ChairmanRakesh Patel - Finance Directorwww.edenville-energy.com | +44 (0) 20 7099 1940 |
ZAI Corporate Finance Ltd | |
Ray Zimmerman/ Marc Cramsie | +44 (0) 20 7060 2220 |
Newgate Threadneedle | |
Grahame Herring/Richard Gotla | +44 (0) 20 7653 9855 |