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KEH
KEH
KEH - Keaton Energy Holdings - Sterkfontein coal resources doubled to 69Mt
Quality of resource points to potential export and domestic products
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE share code: KEH ISIN: ZAE000117420
("Keaton Energy" or "the company")
Sterkfontein coal resources doubled to 69Mt
Quality of resource points to potential export and domestic products
Keaton Energy announced today that is has doubled the coal resource at its
Sterkfontein coal project in South Africa`s Mpumalanga Province to 69 million
mineable tonnes in situ, following the conclusion of the first phase of its
current drilling campaign
The latest coal resource statement published today and available in full on the
company`s website (www.keatonenergy.co.za), is the subject of a March 2010
Independent Competent Person`s Report.
Keaton Energy CEO Paul Miller says: "We were confident previously that there was
sufficient coal to develop an underground mine with output suitable for both the
export and domestic markets. The substantially increased resource base allows
us to consider the development of an underground mine with a significantly
longer life."
Sterkfontein, located near Bethal and 143km south east of Johannesburg,
immediately to the south east of Sasol Mining`s Twistdraai operations, was
enlarged to cover a total of 7 279.81ha following Keaton Energy`s acquisition
(through subsidiary Labohlano Trading No 56 (Proprietary) Limited) of 3 270ha of
contiguous prospecting rights from Ibutho Mzinoni Coal (Proprietary) Limited
("the acquisition").
The acquisition included data from a 25-hole drill programme completed by the
previous owners. To expand the resource base, Keaton Energy embarked on a
drilling programme, the first 30 holes of which were completed on the south
block of the combined properties. This brings the total number of holes
drilled to date on the project area as a whole to 192. The exploration
programme is at an advanced stage with about 50% of the resource drilled to the
measured category and the remainder drilled to the indicated category.
Miller, looking to the medium-term future, says: "The remainder of the drill
programme is well underway and the remaining 56 holes planned for the two
northern blocks of the resource should be completed by mid-2010.
We should then have defined the coal resource base to the level of confidence
which will allow us to launch a pre-feasibility study for a major underground
multi-product mine producing both export and domestic coal."
Bryanston
6 April 2010
Sponsor
Nedbank Capital
Date: 06/04/2010 11:47:16 Produced by the JSE SENS Department.
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