SRO Spitfire Oil Limited

 

TIDMSRO 
 
RNS Number : 4078Z 
Spitfire Oil Limited 
21 September 2009 
 

 
 
 
 
 
 
60 St James's Street, London SW1A 1LE, United Kingdom 
Telephone: + 44 (0)20 7629 7774  Facsimile: + 44 (0)20 7629 7773 
 
 
21st September 2009 
 
 
Commencement of Gold Exploration Program 
Review Of Operations 
 
 
Spitfire Oil Limited ("Spitfire" or the "Company") is pleased announce that it 
has commissioned a gold exploration drilling program at its Salmon Gums 
tenements.  The Company has been aware for some time of the activity of a 
significant number of mining companies seeking to peg ground on the south-west 
trending greenstone belt hosting the Tropicana gold deposit, a large portion of 
which greenstone resides on the Company's large tenement package at Salmon Gums. 
 Spitfire's geological assessment of the gold prospectivity of its tenements has 
shown that the tenements host the intersection of two regional prospective gold 
trends and the intersection of two regional faults. Regional geological 
interpretations indicate a greenstone belt crossing the 
tenements.  Consequently, the Company has commissioned a gold exploration 
program including 171 aircore holes into the granite basement on a 200m x 800m 
grid covering the intersection of the two faults. This program is expected to be 
completed early next year. 
Ongoing testwork and investigations, have highlighted the expanding complexity 
and growth in the scope of research required in refining and finalising the 
Company's proprietary L2VTM lignite to oils process to extract distillate from 
the Salmon Gums lignite.  The directors have consequently ordered a complete 
financial and technical reappraisal of the project, including an analysis of 
other competing coal-to-liquids technologies, the result of which will be 
communicated as soon as it is available. 
The Company's results and annual report for the year to 30 June 2009 will be 
published by the end of the calendar year . 
 
 
 
 
 
 
 
 
Further information 
Mladen Ninkov - Chairman 
Roger Goodwin - Director    Telephone: +44(0)20 7629 7774 
Spitfire Oil Limited 
Gerard Kisbey-Green    Telephone: +44 (0)20 7597 5167 
Stephen Cooper Telephone: +44 (0)20 7597 5104 
Investec Investment Bank 
Guy WilkesTelephone: +44 (0)20 77864370 
Ocean Equities 
 
 
Spitfire Oil Limited's shares are quoted on the Alternative Investment Market 
(AIM) of the London Stock Exchange (symbol SRO) 
The Company's news releases are available on the Company's web site: 
www.spitfireoil.com 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCUAOSRKORKUAR 
 

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