JORC MEASURED RESOURCE AT BLOCK VI THAR COALFIE...
19 May, 2008
GB00B23JN426/GBP/PLUS-exn
Oracle Coalfields Plc
("Oracle" or "the Company)
Drilling validation defines 1.4 billion tonnes JORC compliant Measured Resources and 371 million
tonnes Proved Reserves at Block VI Thar Coalfield, Tharparkar, Province of Sindh, Pakistan.
Highlights
* Measured Resource at Block VI, Thar Coalfield, of 1.423 billion tonnes
* Proven Reserve of 371 million tonnes at phase I and phase II mine areas at Block VI
* Coal is of lignite quality and suitable for combustion in power generation
Oracle Coalfields PLC (PLUS: ORCP) the coal explorer and developer, announces the results from its
seven borehole drilling programme at its 80% owned Block VI coal project located on the Thar
Coalfield in Pakistan. The results have returned a total measured resource at Block VI of 1.423
billion tonnes of lignite coal. The area of Block VI that has been delineated as the mine area has
returned a proved reserve of 371 million tonnes of lignite coal.
The results from the seven borehole drilling programme have validated the results of a 35 borehole
drilling programme undertaken in 2006 by the China North Eastern Geological Survey Bureau as
commissioned by the Sindh Coal Authority. The results have enabled the project to be taken to the
internationally recognised JORC standard (JORC: Joint Ore Reserves Committee of The Australasian
Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of
Australia). The main principles of JORC Code (2004 Edition) and definition of the resource can be
read as per the following link: (http://www.jorc.org/main.php)
Analyses of the results were carried out by the Company's independent UK coal consultants, Dargo
Associates Ltd ("Dargo").
The area of Block VI that has been outlined for the mining area is that which shows the most
favourable stripping ratio in relation to the overburden and the thickness of the coal seam.
Analyses of the 42 boreholes has shown the geology at Block VI to be simple with no known
dislocations and confirmed the quality of coal to be suitable for combustion in power generation.
Lignite Measured Resources Mt Lignite Proved Reserves Mt
Block VI Area 1,423 -
Total Mine Area - 371
Mt = Million Tonnes
Shahrukh Khan, Chairman, commented:
"We are delighted to announce the JORC results at Block VI of the Thar Coalfield, which have
exceeded our expectations. We now look forward to taking the project into the next phase of
development. We are reviewing the programme and strategy and shall inform the market of our
progress in the near future."
Qualified Person
The information contained in this announcement has been reviewed by Dr Larry Thomas Ph.D, C.Geol,
C.Eng, FIMMM, FGS of Dargo Associates Ltd, independent consultants to Oracle Coalfields PLC. He is
a Qualified Person who has more than 30 years experience in coal geology and he is undertaking to
act as a Qualified Person for the purposes of this announcement.
The Directors of the Issuer accept responsibility for this announcement.
ENQUIRIES:
ORACLE COALFIELDS PLC
SHAHRUKH KHAN, CHAIRMAN
TELEPHONE: 01366 500722
EMAIL: S.KHAN@ORACLECOALFIELDS.COM
CORPORATE ADVISERS
ST HELEN'S CAPITAL PLC
BARRY HOCKEN, DIRECTOR
TELEPHONE: 020 7628 5582
EMAIL: BARRY.HOCKEN@STHELENSCAPITAL.COM
CONDUIT PR
JOS SIMSON
Telephone: 020 7429 6603
WEBSITE:
www.oraclecoalfields.com
About Oracle:
Oracle Coalfields plc is a London-based resource exploration and development company with an 80
per cent owned subsidiary (Sindh Carbon Energy Limited) operating in Pakistan. The Company's
shares are quoted on the PLUS markets (symbol: ORCP). The Company's flagship project is the Block
VI coal project which is located on the Thar coalfield in the eastern Sindh province, Pakistan.
Block VI is host to a JORC compliant resource of 1.4 billion tonnes and 371 million tonnes in the
proven category.
The Company also owns the Indus East project in Pakistan. A pre-feasibility study carried out by
Dargo associates confirmed an inferred resource for the area (in line with the JORC Code) to 365
million tonnes, of which the boreholes KHW-1 and KHW-2 give an indicated resource of c.24 million
tonnes.
Oracle Coalfields plc
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