19 Apr 2012 13:22
19 April 2012
EDENVILLE ENERGY PLC ("Edenville" or the "Company")
Resource Report and Update
Edenville Energy plc (AIM:EDL), the coal exploration and development company, is pleased to announce that the maiden in-situ resource estimate, as prepared by Wardell Armstrong International ("WAI"), for the Mkomolo Basin on the Rukwa Coalfield Project in South Western Tanzania is now available on the Company's website, www.edenville-energy.com.
The Company is making preparations for the upcoming field season. New site vehicles have been purchased, the camp is being up-graded and additional geological staff recruited in preparation for the 2012 work program.
The positive results from the last field season, culminating in the publication of the JORC-compliant resource estimate, means that the focus of the 2012 drill campaign will be on the Rukwa Coalfield Project and the nearby properties of Namwele and Muze. The drill contractor is expected to mobilise during May as is the geophysical contractor. The geophysical data, combined with information generated by the drill program, will allow the Company to better understand the continuation of, and the extensions to, the known coal seams.
The Company's goal remains the rapid development of a low cost, large tonnage open pit mine and the evaluation of potential end users.
Simon Rollason, Chairman of Edenville, commented "I am pleased to announce this update to our shareholders, as we expect to start field work shortly on the Rukwa Project. We are excited by the recent resource results which highlight the positive potential of the project. To date we have delineated 39 million tonnes of inferred resource from only part of the project. In 2012 we intend to complete the drilling at Mkomolo, advance Namwele and commence investigations at Muze. In 2011 Edenville has achieved its objective of confirming the presence of coal bearing strata along multiple kilometers of strike length, which also extends to a significant depth. The company is fully funded to undertake the planned 2012 work programme"
Contact:
Edenville Energy plc |
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Simon Rollason - ChairmanRakesh Patel - Finance Directorwww.edenville-energy.com | +44 (0) 20 7099 1940 |
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ZAI Corporate Finance Ltd |
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Ray Zimmerman/Marc Cramsie | +44 (0) 20 7060 2220 |
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Newgate Threadneedle Communications |
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Josh Royston/Richard Gotla | +44 (0) 20 7653 9855 |