RNS Number : 7918R
Caledon Resources PLC
07 May 2009
7 May 2009
Caledon Resources plc
('Caledon' or the 'Company')
Cook Colliery and Minyango Resource Upgrade
-
Cook Resource estimate increased by 230 Million tonne (Mt) to 406Mt
-
Neighbouring Minyango Resource increased by 50Mt to 342Mt
-
Infill drilling program to commence this month at Minyango
Australian coal producer and explorer Caledon Resources plc (AIM: CDN, ASX: CCD) announces an additional 230 Million tonne (Mt) to the Coal Resource estimate at the Cook mine to 406Mt, as well as an additional 50Mt to 342Mt Resource estimate at the nearby Minyango project. Both Resource estimates are reported in accordance with the 2004 version of the JORC Code¹ and are based on a seam thickness cut off of 1.5 metres (m).
Cook Mine
A review of the extensive historical geological data previously held by the Company plus the recent receipt of additional historical data has resulted in an estimation of an additional 230Mt of Inferred Coal Resources at Cook.
|
JORC Resource Category
|
|
Seam
|
Average Thickness
(m)
|
Measured
(Mt)
|
Indicated
(Mt)
|
Inferred
(Mt)
|
TOTAL
(Mt)
|
|
Aries
|
1.79
|
2.5
|
11
|
45
|
58.5
|
|
Castor
|
2.58
|
12.5
|
32
|
85
|
129.5
|
|
Pollux
|
2.74
|
12.6
|
35
|
90
|
137.6
|
|
Orion
|
1.63
|
4
|
3
|
5
|
12
|
|
Argo
|
4.42
|
54.5
|
9
|
5
|
68.5
|
|
Total
|
|
86.1
|
90
|
230
|
406.1
|
Notes
1 Coal Resources for Cook Mine are current to April 2009.
2 A minimum coal ply thickness of 1.5m was used to estimate Coal Resources.
3 Coal adjacent to major fault zones has been excluded from the Resource estimate
4 The total Inferred Coal Resource of 230 Mt includes coal projected 2 km beyond the outmost boreholes. This 2 km extrapolated zone is supported by the results from the high resolution 2D seismic surveys which cover the entire Coal Resource area within the tenement. The results provide added confidence in the geology of Cook mine beyond the boreholes indicating the absence of transgressive igneous intrusives and complex features within the Resource area.
5 The estimates of Coal Resources presented in this table have been carried out in accordance with The JORC Code and have been rounded to appropriate levels of accuracy.
A total of 303Mt of the Resources is at a depth of less than 300m comprising of 99% of the Measured Resources, 86% of the Indicated Resources and 61% of the Inferred Resources. The balance of the Resource estimate occurs at depths less than 500m.
Minyango
The inclusion of areas of EPC997 and MDL375 in the Resource estimate of Minyango has resulted in an additional 50Mt in the total estimated Resource to 342Mt. The previous estimate of 292Mt was based solely on EPC699 and excluded EPC997.
|
JORC Resource Category
|
|
Seam
|
Average Thickness
(m)
|
Measured
(Mt)
|
Indicated
(Mt)
|
Inferred
(Mt)
|
TOTAL
(Mt)
|
|
Aries
|
2.70
|
25.7
|
39
|
80
|
144.7
|
|
Pollux
|
2.64
|
25.9
|
61
|
110
|
196.9
|
|
Total
|
|
51.6
|
100
|
190
|
341.6
|
Notes
1 Coal Resources for Minyango are current to April 2009.
2 A minimum coal ply thickness of 1.5m was used to estimate Coal Resources.
3 Coal adjacent to major fault zones has been excluded from the Resource estimate
4 The total Inferred Coal Resource of 190 Mt includes coal projected 2 km beyond the outmost boreholes. This 2 km extrapolated zone is supported by the results from boreholes previously drilled which provide added confidence improving the existence, and therefore the continuity of the coal seam geology of Minyango beyond the outmost boreholes used for Resource definition.
5 The estimates of Coal Resources presented in this table have been carried out in accordance with The JORC Code and have been rounded to appropriate levels of accuracy.
A total of 308Mt of the Resources is at a depth of less than 300m comprising of 99% of the Measured Resources, 99% of the Indicated Resources and 83% of the Inferred Resources. The balance of the Resource estimate occurs at depths less than 500m.
As mentioned in the Company's recently released Quarterly Report, the next phase drilling is expected to commence in May. The focus of this program is to improve the knowledge of coal quality, Resource definition, and gas content and drainage characteristics, as well as to define additional Coal Resources in the southern portion of Minyango.
¹The information in this announcement relating to Cook and Minyango Coal Resources is based on information compiled by Mr Yoga Suryanegara who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Suryanegara is a full-time resource geologist employed by Caledon. Mr Suryanegara has more than 12 years experience as a coal geologist in the resources industry involving exploration and evaluation assignments at operating coal mines and coal exploration areas in a number of coal basins throughout the world. With this level of experience, which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking, he is adequately qualified as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code) and consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The information compiled by Mr Suryanegara has also been independently reviewed.
For further information, please contact:
United Kingdom
Caledon Resources plc
Jeremy Gorman +44 (0) 20 7935 0027
RBC Capital Markets (NOMAD & Broker)
Martin Eales +44 (0) 20 7029 7881
Conduit PR - Leesa Peters/Jos Simson +44 (0) 20 7429 6603 / +44 (0) 7899 870 450
Australia
Caledon Resources plc
Mark Trevan +61 7 33093103
Rowland (media enquiries)
Bruce Ruddy +61 7 3229 4499
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