| Wed 14 May 2008, 14:28 | | MMH - Miranda - CPR Confirms 120 Mt Ton Resources |
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MMH
MMH
MMH - Miranda - CPR Confirms 120 Mt Ton Resources On 4 Projects
Miranda Mineral Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1998/001940/06)
Share code: MMH & ISIN: ZAE000074019
("Miranda" or "the group")
CPR CONFIRMS 120 MT TON RESOURCES ON 4 PROJECTS
The board is pleased to announce that four independent Competent Person`s
Reports ("CPR"), commissioned in the first quarter of this year on four of the
groups Kwazulu Natal (" KZN") coal projects have been completed.
The Group now has a SAMREC compliant resource of 120 mt on four of its coal
projects, with drilling to upgrade to Measured Resources underway. Drilling is
also continuing on three additional projects in the area, the results of which
will be included in the next SAMREC compliant CPR`s to be published within the
next 90 days.
The reports have been prepared by Mr PC Meyer (Pr.Sci.Nat 400025/03) a SAMREC
registered Competent Person. PC Meyer has more than 18 years experience in the
South African coal industry and is a member of the GSSA and Fossil Fuel
Foundation.
The results of the four "CPR`s are sumarised below:
UITHOEK PROJECT
RESERVE & RESOURCE STATEMENT
The Project Area, situated in the district of Glencoe KZN stretches 8 km from
west to east and 9 km`s from north to south with the Wasbank River bisecting the
area. The average depth and widths of the Top Seam and Bottom Seam in the
Resource areas are tabulated below:
AVERAGE SEAM DEPTH AND THICKNESS
Top Seam
Block Average Depth(m)
Width(m)
Block OC1 0.64 12.0-40.0 Avg 26
Block OC2 0.99 1.18 -74.0 Avg 36
Block UG 1.09 115.00
Bottom Seam
Block Average Depth (m)
Width(m)
Block OC1 0.63 7.3 - 31.8 Avg
23.2
Block OC2 0.98 2.3-73.0 Avg 53.0
Block UG 1.18 Avg 75.0
OC= Open cast UG= Underground
RESOURCE STATEMENT
Top Seam Area m2 Volume RD Gross in Geological In Situ
(Tons) Situ tons loss tons
Block OC1 544,106 350,869 1.45 508,760 15% 432,446
Block OC2 371,309 367,604 1.45 533,025 15% 453,071
Block UG 1,000.090 1,092,604 1.45 1,584,276 15% 1,346,635
Total 1,915,507 1,811,077 2,626,061 2,232,152
Bottom Area m2 Volume RD Gross in Geological In Situ
Seam (Tons) Situ tons loss tons
Block OC1 1,197,267 753,036 1.45 1,091,903 15% 928,118
Block OC2 425,229 416,053 1.45 603,277 15% 512,785
Block UG 2,037,102 2,398,516 1.45 3,477,848 15% 2,956,171
Total 3,659,599 3,567,606 5,173,029 4,397,074
Total Measured resource 6.63 mt
The total resource area for the Top Seam is 191,550 ha, with 42 boreholes
covering the area and 365,960 ha for the Bottom Seam with 40 boreholes covering
the area. This gives a borehole distribution of 22 boreholes/100 ha for the Top
Seam and 11 boreholes for the Bottom Seam. The resource status for all the
blocks and seams could therefore classified as "Measured" for the current SAMREC
code classification for multi seam deposits.
Coal Qualities
Lean coal, semi anthracitic, bituminous with coking properties
BURNSIDE PROJECT (STREET SPRIT TRADING 54 (PTY)LTD)
RESERVE & RESOURCE STATEMENT
The Project Area, situated in the Glencoe area of KZN, stretches 6 km from west
to east and 9 km`s from north to south. It is known that there was some mining
on the property during the 1970`s but the old mine layouts and plans are not
available. It is estimated that some 3.0 mt of the Bottom Seam might have been
mined. The average depth and widths of the Top Seam and Bottom Seam in the
Resource areas are tabulated below:
AVERAGE SEAM DEPTH AND THICKNESS
Top Seam
Block Average Depth (m)
Width(m)
Block UG1 1.06 104.9 -203.4 Avg 147.6
Block UG2 0.85 49.4-231.1 Avg 162.2
Block OC 1.09 115.00
Bottom Seam
Block Average Width Depth(m)
(m)
Block UG1 1.55 105 - 215 Avg 151
Block UG2 1.14 28 - 232 Avg 152
Block OC 1.18 17.60
OC= Open cast UG= Underground
Top Seam Area m2 Volume RD Gross in Geologi In Situ
(Tons) Situ tons cal tons
loss
Block UG1 3,037,421 3,218,099 1.45 4,666,243 15% 3,966,307
Block UG2 8,160,727 6,957,501 1.45 10,088,377 15% 8,575,121
Block OC 4,692,691 3,988,788 1.45 5,783,742 15% 4,916,181
Total 15,890,839 14,164,388 20,538,362 17,457,608
Bottom Area m2 Volume RD Gross in Geologi In Situ
Seam (Tons) Situ tons cal Tons
loss
Block UG1 3,025,566 4,699,825 1.45 6,814,746 15% 5,792,534
Block UG2 10,700,866 12,242,540 1.45 17,751,683 15% 15,088,930
Block OC 4,028,168 4,765,849 1.45 6,910,482 15% 5,873,909
Total 17,754,601 21,708,214 31,476,911 26,755,374
Total resource 44,212 mt
The total resource area for the Top Seam is 1589,083 ha, with 32 boreholes
covering the area and 1775,460 ha for the Bottom Seam with 54 boreholes covering
the area. All of these boreholes have quality data.
The Open Pit area and Underground Block 2 have limited borehole data information
and could be classified as an "Inferred resource" for both seams, while the
Underground Block 1 has sufficient information for both seams to have an
"indicated Resource" status for the current SAMREC code classification for multi
seam deposits.
Currently six percussion boreholes have been drilled and wireline logged whilst
another 8 cored boreholes are being drilled to increase the resource status to
"Measured".
Coal Qualities
Lean coal, semi anthracitic, bituminous with coking properties
BOSCHHOEK AND BOSCHKLOOF PROJECT (APPLEWOOD TRADING 3 (PTY) LTD
RESERVE & RESOURCE STATEMENT
The Project Area, situated in the Glencoe area of KZN stretches 12 km from west
to east and 11 km`s from north to south. The average depth and widths of the Top
Seam and Bottom Seam in the resource area are tabulated below:
AVERAGE SEAM DEPTH AND THICKNESS
Top Seam
Block Average Depth (m)
Width(m)
Block 1 0.98 28-253 Avg 119
Block 2 0.86 117-224 Avg 156
Block 3 1.10 111-280 Avg 169
Bottom Seam
Block Average Width Depth (m)
(m)
Block 1 1.06 74-258 Avg 157
Block 2 0.97 43-116 Avg 84
Block 3 0.94 116-284 Avg 182
RESOURCE STATEMENT
Top Area m2 Volume RD Gross in Geologi In Situ
Seam (Tons) Situ tons cal tons
loss
Block 1 9,985,520 9,814,931 1.45 14,231,650 15% 12,096,903
Block 2 3,061,805 2,646,093 1.45 3,836,834 15% 3,261,309
Block 3 5,941,926 6,536,557 1.45 9,478,008 15% 8,056,307
Total 18,989,252 18,997,581 27,546,493 23,414,519
Bottom Area m2 Volume RD Gross in Geologi In Situ
Seam (Tons) Situ tons cal Tons
loss
Block 1 14,272,298 15,199,064 1.45 22,038,643 15% 18,732,847
Block 2 3,006,863 2,929,094 1.45 4,247,187 15% 3,610,109
Block 3 5,622,571 5,273,375 1.45 7,646,394 15% 6,499,435
Total 22,901,733 23,401,534 33,932,224 28,842,390
Total Indicated Resource 52,25 mt
The total resource area for the Top Seam is 1898,925 ha, with 121 boreholes
covering the area and 2290,173 ha for the Bottom Seam with 113 boreholes
covering the area. All of these boreholes have quality data. The project area
therefore has a borehole density of 6.37 boreholes/100 ha for the Top Seam and
4.93 boreholes/100ha for the Bottom Seam, demonstrating a classification in the
current SAMREC code for multi seam deposits as an "Indicated Resource".
Coal Qualities
Anthracite, bituminous and coking coal.
NOTE;
The three farms Uithoek,Burside, Boschhoek and Boschkloof are all contiguous.
THE FARM YARL
RESERVE & RESOURCE STATEMENT
The Project Area, situated in the Dannhauser district of KZN, stretches 4,7 km
from west to east and 3,9 km`s from north to south. The average depth and widths
of the Top Seam and Bottom Seam in the resource area are tabulated below:
AVERAGE SEAM DEPTH AND THICKNESS
Top Seam
Block Average Depth (m)
Width(m)
Block1 1,17 94-165 Avg 135
Block 2 1,18 113-186 Avg 141
Bottom Seam
Block Average Width Depth (m)
(m)
Block 1 1.56 129-194 Avg 167
Block 2 0.93 116-191 Avg 159
RESOURCE STATEMENT
Top Area m2 Volume RD Gross in Geologi In Situ
Seam (Tons) Situ tons cal tons
loss
Block 1 4,006,597 4,691,177 1,45 6,802,207 15% 5,781,876
Block 2 1,702,546 2,013,975 1,45 2,920,263 15% 2,482,224
Total 5,709,143 6,705,152 9,722,470 8,264,099
Bottom Area m2 Volume RD Gross in Geological In Situ
Seam (Tons) Situ tons loss Tons
Block 1 3,299,938 5,133,744 1,45 7,443,929 15% 6,327,340
Block 2 2,040,058 1,897,254 1,45 2,751,019 15% 2,338,366
Total 5,339,996 7,030,998 10,194,948 8,665,706
Total Indicated Resource 16,931mt
The total resource area for the Top Seam is 570,914 ha, with at least ten
boreholes covering the area and 533,999 ha for the bottom seam with nine
boreholes covering the area. All of these boreholes have quality reliable data.
The project area therefore has a borehole density of 2 boreholes/100ha for both
seams, demonstrating a classification in the current SAMREC code for multi seam
deposits as an "Inferred Resource".
Coal Qualities
Anthracite, bituminous coal.
The group is currently completing a detailed core drilling programme on the
three Glencoe properties, with a view to upgrade all three properties to that of
a "Measured Resource". On completion of the drilling programme and analysis of
the coal qualities mining right applications will be lodged with the Department
of Minerals and Energy.
14 May 2008
Centurion
Sponsor:
Sasfin Capital
(A division of Sasfin Bank Limited)
Corporate Advisor:
Qinisele Resources
Date: 14/05/2008 14:28:00 Produced by the JSE SENS Department.
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