Edenville Energy PLC Exploration Programme and Project Update (8464M)
May 12 2015 - 2:01AM
UK Regulatory
TIDMEDL
RNS Number : 8464M
Edenville Energy PLC
12 May 2015
12 May 2015
Edenville Energy plc
("Edenville" or the "Company")
Exploration Programme and Project Update
Following the announcement of successful raising of funds on 23
April 2015, the next stage of Edenville's relatively low-cost, high
value exploration programme will begin shortly. The primary aim of
the programme is to better define extensions to Edenville's Rukwa
Coal Project, already known to host 171 million tonnes of Measured
and Indicated coal, sufficient to support a 120MW power station
over the life of the project.
Edenville's recently announced Power Plant Feasibility Study
(see announcement dated 2 March 2015) outlined the potential to
scale up the Power Station beyond 120MW (Phase 1) as the power
demand increases over time, and this exploration work will
delineate prime targets for the future expansion of the coal
resource.
The exploration programme builds on the results from the 2014
ground magnetic survey, conducted across Namwele, Mkomolo and Muze;
the three deposit areas which comprise Edenville's Rukwa Coal
Project. The 2014 work programme tested the possibility of
additional areas of near-surface coal within the larger Mkomolo
basin and better defined the edges of the coal-bearing basins which
are overlain by recent alluvial sediments and not exposed at
surface.
The majority of the 2014 magnetic survey data was good quality,
although a small portion of the NE grid needs some additional
survey work to further define structures.
The processed data set revealed the following:
1) The western edge of the Mkomolo basin is further west than
originally mapped. The basin maybe larger than originally thought
and has the potential to contain a larger area of coal
measures.
2) The Namwele basin is well defined but further lines will be
placed to the west and east of the existing grid in order to
confirm the western fault contact and throw, to give a better
understanding of where additional coal measures may lie.
3) At Muze the western limit of coal measures is well defined;
further magnetic surveying to define the southern and northern
portions of the Muze Basin will assist in the planning of any
future drilling programme targeting the historical 60 million
tonnes of coal resource.
In summary, this exploration programme is a relatively low-cost
exercise which is expected to generate significant information
relating to the potential for additional coal, west of the existing
Measured and Indicated Coal Resource of 160 million tonnes at
Namwele and Mkomolo and extensions to the Muze deposit, currently
host to a 11 million tonnes Measured and Indicated Coal
Resource.
Project Update:
The Mining Licence application requires several areas to be
defined and presented as part of the application process. These
areas include a Mine Plan, CSR Policy, a Procurement Plan and an
Employment Plan.
With regard to the Mine Plan, pit shells have been generated by
Sound Mining Systems (SMS), our Johannesburg based mining
specialist consultants, for a range of mining options and the
selection of appropriate outlines for mining is in progress. Stage
Designs will then be completed to feed into the Mining Licence
application.
The Employment Plan, CSR Policy and Procurement Plan are being
developed in parallel with the Mine Plan and will be refined to
match the final mining option, once finalised.
We continue to work closely with Tansheq, our Environmental
Management and Mining Services consultants based in Dar es Salaam,
and continue to make good progress compiling the key components of
the Mining Licence application, ready for submission later in Q2
2015.
Rufus Short, CEO of Edenville plc commented, "We are pleased to
be embarking on the next stage of our exploration programme which
is expected to better delineate our already substantial coal
resource. The Mining Licence application process is on schedule and
we look forward to submitting the application before the end of
June. "
Qualified Person Review
Mark J. Pryor, Pr.Sc.Nat. has reviewed and approved the
technical information contained within this announcement in his
capacity as a Qualified Person, as defined by the AIM Rules and
National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
Contact
Edenville Energy Plc +44 (0) 20 7652
Rufus Short - CEO 9788
Cantor Fitzgerald Europe
(Nominated Advisor and Corporate
Broker)
Stewart Dickson +44 (0) 20 7894
Jeremy Stephenson 7000
IFC Advisory
(Financial PR and IR)
Tim Metcalfe +44 (0) 20 3053
Graham Herring 8671
This information is provided by RNS
The company news service from the London Stock Exchange
END
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