Information  X 
Enter a valid email address

Edenville Energy PLC (EDL)

  Print      Mail a friend       Annual reports

Monday 29 November, 2010

Edenville Energy PLC

Exploration Update

RNS Number : 9575W
Edenville Energy PLC
29 November 2010
 

29 November 2010

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

 

Exploration Update, Tanzania

 

Edenville Energy plc (AIM:EDL), the African coal exploration and development company, today announces that a Drilling Contract has been signed to undertake a scout drilling programme on the Namwele and Mkomolo Deposits within the Rukwa Coalfields project in Southern Tanzania.

 

A contract has been concluded with MARMOE E Granito Mines (Tanzania) Limited of Mbeya in southern Tanzania, who will undertake a 1,000m percussion drilling programme. A rig will be mobilised to site on the 1st December and drilling is expected to take approximately 3 weeks to complete. It is planned that most holes will be vertical and drilled to shallow depths of 50m on average.

 

The objective of this programme is to gain a greater understanding of the sub-surface geology as this step out drilling programme will confirm the grade, dip, width and strike extent of the coal within the immediate areas of outcropping seams. Two of the holes are planned to be drilled to greater depths (approx. 100m) as historic documentation from the Geological Survey suggests that further coal seams lie below the open pit zone..

 

Since the acquisition of these properties in August 2010 the company has established a field camp at Namwele and has been undertaking geological mapping and sampling over the Namwele and Mkomolo Coalfields. The findings from the mapping form the basis for the drill programme.

 

As far as the Company is aware this programme of works represents the first drilling to be undertaken on the deposits since the limited activities completed by the Tanganyika Geological Survey (TGS) in the 1940's.

 

Simon Rollason, Chairman of Edenville, commented "I am pleased to announce the imminent start of our first drill programme on the Rukwa Coalfield. We anticipate that the results from the drilling will allow us to plan a more detailed in-fill drill programme that can start next year with the objective of establishing a maiden resource estimate at Namwele for an open pit coal mine by the end of 2011. Edenville will look to rapidly add value for our shareholders through exploration and development of our portfolio of assets which we have acquired in Tanzania. I look forward to announcing further results, as work continues on the Edenville coal portfolio."

Contact:

Edenville Energy plc


Simon Rollason - Chairman
Rakesh Patel -
Finance Director
www.edenville-energy.com

 +44 (0) 20 7099 1940 



ZAI Corporate Finance Ltd


Ray Zimmerman/ John Depasquae

+44 (0) 20 7060 2220



Threadneedle Communications


Laurence Read/Beth Harris

+44 (0) 20 7653 9855

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLPGGRPGUPUGGB