| Wed 20 Oct 2010, 10:31 | | RSG - Resource Generation Limited - Resources and reserves upgraded |
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RSG
RSG
RSG - Resource Generation Limited - Resources and reserves upgraded
Resource Generation Limited
Registration number ACN 059 950 337
(Incorporated and registered in Australia)
Share code on the JSE Limited: RSG
Share code on the Australian Stock Exchange ("ASX"): RES
ISIN Code: AU000000RES1
("Resgen" or "the Company")
RESOURCES AND RESERVES UPGRADED
The Company`s coal resources and reserves in the Waterberg region of South
Africa, where it is developing its Boikarabelo mine, have been upgraded after
analysis of 28 cored holes from a drilling programme earlier this year.
Boikarabelo`s resources and reserves are now as follows:
probable reserves of 636.0 million tonnes, an increase of 32.7 million tonnes;
plus
- a new measured resource of 204.0 million tonnes; plus
- an indicated resource of 551.7 million tonnes; plus
- an inferred resource of 1.5 billion tonnes.
Mine planning is being undertaken which will enable the measured resource to be
upgraded to probable reserve status. This is expected to be completed by the
end of November 2010.
Paul Jury, managing director of Resgen, said: `These results are further
confirmation of the potential of our Boikarabelo mine to supply large quantities
of thermal coal to both the export and domestic thermal coal markets. Together
with our 20 year contract to supply coal to India`s CESC power utility, the
results will also strengthen the attraction of Boikarabelo to financiers as we
raise funds to complete the development.
The drilling programme consisted of 5 boreholes on Witkopje South, 21 boreholes
on Kalkpan and 2 boreholes on Draai Om. A plan of the areas is included on a
tenement map which is available on Resgen website, www.resgen.com.au under ASX
announcements.
Further detailed information is provided below.
Boikarabelo`s reserves and resources in detail
(100% figures) Inferred Indicated Measured Probable
Resource Resource* Resource Reserve
* million * million
million tonnes million tonnes
tonnes tonnes
Waterberg #1 SW 314.2
Waterberg #1 NE 551.7
Witkopje S 321.8
Kalkpan 204.0
Draai Om 791.3
Witkopje N 688.3
Total 1,479.6 551.7 204.0 636.0
Previous announcement 1,735.5 569.5 0 603.3
Increase/(Decrease) (255.9) (17.8) 204.0 32.7
* Total in-situ tonnes of coal excluding shale content
- The probable reserve in the Waterberg #1 South West area has increased by
11.8 million tonnes, with a related decrease in the indicated resource in
the Waterberg #1 North East area of 17.8 million tonnes.
- The probable reserve in the Witkopje South area has increased by 20. 9
million tonnes to 321.8 million tonnes.
- The measured resource in the Kalkpan area has increased by 204.0 million
tonnes, with a related decline in the inferred resource of 255.9 million
tonnes.
The total gross in-situ resource base of Boikarabelo is as follows:
(100% figures) Area Resource Resource*
hectares million million
tonnes tonnes
Waterberg #1 SW 536 865.5 426.3
Waterberg #1 NE 706 1,116.4 551.7
Witkopje S 539 945.8 460.2
Kalkpan 284 396.3 204.0
Draai Om 1,009 1,633.8 791.3
Witkopje N 836 1,429.3 688.3
Total 6,387.1 3,121.8
* Excludes shale content
Information in this release that relates to exploration results, mineral
resources or ore reserves is based on information compiled by Mr Dawie Van Wyk
who is a consultant to the Company and is a member of a Recognised Overseas
Professional Organisation. Mr Van Wyk has sufficient experience which is
relevant to the style of mineralisation and type of deposit under consideration
and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the `Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves`. Mr Van Wyk has given
and has not withdrawn his consent to the inclusion in the release of the matters
based on his information in the form and context in which it appears.
Sydney, Australia
20 October 2010
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
Date: 20/10/2010 10:31:01 Produced by the JSE SENS Department.
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