Initial Mkomolo 2012 Drill Results

RNS Number : 8681J

Edenville Energy PLC

13 August 2012

 



13^th August 2012

EDENVILLE ENERGY PLC ("Edenville" or the "Company")

Initial Mkomolo 2012 Drill Results, Rukwa Coal Project, Tanzania

Edenville Energy plc (AIM:EDL), the coal focused African energy exploration and development company, today announces receipt of the initial Mkomolo deposit float and sink drill assay results. These results are part of the 2012 resource delineation drill programme which is currently underway at the Rukwa Coalfield project in south western Tanzania.

Highlights:

·         Float and sink sample results received

·         Further positive indications of thermal quality coal mineralisation

·         Drilling intersections indicate coal continues to the north of April 2012 resource drilling area

·         Results confirm coal grades and continuity of coal measures

·         Upgraded Mkomolo resource statement expected Q1 2013 with further results from the Rukwa coalfields to be reported during 2012

·         Drillhole results confirm coal measure widths between 4 and 14m within southern portion of the Mkomolo Basin 

The results from these initial infill drill holes, collared within the southern portion of the currently defined inferred resource area, have confirmed both coal grades and the continuity of coal measures which will allow our recently appointed consultants, Sound Mining Solutions Ltd. ("SMS") of South Africa, to complete the measured and indicated resource statement. Following the receipt of the laboratory results, the revised statement is expected in Q1 2013.

These first 5 drillholes results come from the southern portion of the Mkomolo area with the width of the coal measures in this area being confirmed at between 4 and 14m. All these holes were stopped once they intersected the basement gneisses, as this southern portion of the Mkomolo basin is shallower than the northern section. The holes currently being drilled are stepping out to the north into the deeper portion of the basin, where last year widths of the coal measures were up to 54m, as well as extending the resource northwards.

Simon Rollason, Chairman of Edenville, commented today; "I am very pleased to deliver this update to our shareholders of what is growing into an exciting project for the Company. The new drill results confirm the continuation of the coal measures identified in the 2011 programme and will allow the current inferred resource base of 39 million tonnes to be expanded and the resource category to be upgraded, providing increased confidence to the quantity and quality of Edenville's existing resource at the Mkomolo coal project.

Site access to the northern exploration area is being prepared and during the field season additional diamond core drilling will be completed at Namwele to allow for a resource statement to be prepared; these results are also anticipated in H1 2013. Geological site investigation is underway at Muze to facilitate drill planning for late 2012. Our recently appointed Tanzanian consultant is active on the Environmental Impact Assessment and we will update shareholders on the progress being made in due course"

Coal Quality and Resource Testing

Additional Float & Sink analysis from holes MK12-024, MK12-025, MK12-026, MK12-027 and MK12-028, cored during the 2012 drill programme has now been received from the Alfred H Knight Laboratory, Ayrshire, an internationally accredited coal analysis laboratory in Scotland. This analysis indicates the amount (% yield) and quality of coal that could be obtained from the deposit by mining and processing.

The drillholes are located in the southern part of the Mkomolo basin which remains open-ended both to the north and down dip. All holes were drilled vertically.

Extracts from the results are summarised below:

Hole ID	From (m)	To (m)	Interval (m)	Wash   R.D.	Moisture  %	Ash            %	Volatile      %	F.C.                    %	Sulphur             %	Gross C.v.  MJ/kg	Yield          %
MK12-024	123.18	124.12	0.94	F1.80	5.9	36.2	23.8	34.1	3.61	17.304	53.6
	125.70	126.60	0.90	F2.00	5.0	31.5	24.0	39.5	3.70	18.611	58.4
MK12-025	182.28	183.04	0.76	F2.00	4.2	27.6	28.4	39.8	4.20	20.648	63.9
	183.04	183.97	0.93	F2.00	3.5	33.6	25.6	37.4	1.89	18.828	27.9
	183.97	184.67	0.70	F1.90	3.5	35.0	26.2	35.3	2.78	18.247	44.7
	184.67	185.97	1.30	F1.70	5.2	36.4	26.3	32.2	2.88	17.319	20.7
MK12-026	179.81	181.60	1.79	F1.80	4.6	35.2	26.6	33.6	5.05	18.254	44.2
	182.86	184.87	2.01	F2.00	6.3	27.2	30.4	36.0	6.66	20.404	51.5
	186.10	186.82	0.72	F2.00	4.5	39.5	21.3	34.6	1.90	17.258	27.3
MK12-027	175.97	177.00	1.03	F2.00	4.2	37.4	28.7	29.8	4.96	17.632	51.1
	178.08	178.90	0.82	F2.00	5.2	33.5	27.4	33.9	4.78	18.654	31.4
	178.90	180.35	1.45	F2.00	5.1	33.7	29.8	31.5	4.24	18.625	65.2
	180.35	181.48	1.13	F2.00	4.6	34.7	29.2	31.5	3.56	18.514	55.2
	184.75	185.55	0.80	F2.00	3.3	30.4	26.1	40.1	2.13	20.129	70.2
MK12-028	9.17	10.38	1.21	F1.90	3.7	37.4	22.9	36.0	2.94	17.864	29.1
	10.38	11.34	0.96	F2.00	4.6	28.5	25.9	41.1	2.09	20.813	82.7
	20.10	21.04	0.94	F1.90	4.8	34.0	24.9	36.2	3.07	18.564	73.0
	21.04	21.70	0.66	F2.00	4.7	35.9	22.3	37.1	2.67	18.018	57.7
	22.94	23.70	0.76	F2.00	3.9	39.0	22.3	34.7	3.37	17.245	39.0

Cumulative Results from Fractional analysis (Results are reported on an air-dry basis)

 F.C. - Fixed Carbon, C.V. - Calorific Value

In accordance with the AIM Rules, the information in this announcement has been reviewed by Mark J. Pryor, Managing Director of Edenville Energy PLC, a qualified geologist with over 25 years' experience.

Contact:

Edenville Energy plc
Simon Rollason - Chairman Rakesh Patel - Finance Director www.edenville-energy.com	[phone]
ZAI Corporate Finance Ltd
Ray Zimmerman/ Marc Cramsie	[phone]
Newgate Threadneedle
Grahame Herring/Richard Gotla	[phone]

 

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