Further to the SENS announcement dated 14 May 2008, which
detailed the first four independent Competent Person’s
Reports (“CPRs”) on the group’s KwaZulu Natal (KZN) coal
projects, the board today provides the following update.
* The in-fill drilling program on the Uithoek property
is complete and an updated CPR(1) was issued.
* The Uithoek coal prospect already carried a “Measured
Resource” SAMREC code classification for multi-seam deposits
and additional drilling has supplemented the coal qualities
database, provided more washability data and allowed for
additional coking coal analysis.
* The CPR identified two products; a primary 12% ash content
product, which hosts the coking coal and a middlings product
of 22 Mj/kg for local power station use.
* Coking coal properties have been identified in the open-pitable
sections of the Top Seam as well as the open-pitable Block
1 of the Bottom Seam.
* The total yield on the open-pitable Top Seam sections
is high and ranges from 82% to 92%, with the total yield
on the Bottom Seam’s open-pitable Block 1 an acceptable
65%.
* All open-cast sections on the project, including the
Bottom Seam’s Block 2, as well as the Bottom Seam’s Underground
Block, with a 77% yield, are suitable for power station
use.
* The updated resource statement (all Measured Resources)
for Uithoek is given below:
Area Resource
(‘000 m2) |
|
Volume
(‘000 tons) |
|
Resource |
|
Gross
in situ
(‘000 tons) |
|
Total in
situ
(‘000 tons) |
| Top Seam (TS) |
|
|
|
|
|
|
|
|
| Block OC1 |
|
570 |
|
416 |
|
674 |
|
607 |
| Block OC2 |
|
373 |
|
691 |
|
1,023 |
|
920 |
| Block UG |
|
1,076 |
|
936 |
|
1,497 |
|
1,347 |
| Total TS |
|
2,019 |
|
2,043 |
|
3,194 |
|
2,874 |
| Bottom Seam (BS) |
|
|
|
|
|
|
|
|
| Block OC1 |
|
567 |
|
669 |
|
1,143 |
|
1,029 |
| Block OC2 |
|
1,227 |
|
1,595 |
|
2,505 |
|
2,254 |
| Block UG |
|
280 |
|
336 |
|
587 |
|
529 |
| Total BS |
|
2,074 |
|
2,600 |
|
4,235 |
|
3,812 |
| |
|
|
| Total Measured Resource |
|
6,686 |
| of which: |
|
|
 |
|
|
| Total Open Pit |
|
4,810 |
|
|
|
| Total Underground |
|
1,876 |
| |
|
|
Notes, assumptions and modifying factors:
- OC = Open Cast
- UG = Underground
- Raw relative density (RD) values are laboratory tested.
The average RD for the 2008 boreholes was assumed for all
the boreholes since the historic boreholes had no RD values.
- Quality cut-off parameters for resource calculation was
applied as low volatile areas (Vols < 5%) were excluded.
- Areas where the seam thickness is below 0.5 m were omitted.
- Geological losses of 10% were assumed.
- All tonnages and qualities are quoted air dry.
* The lack of laboratory capacity and drill rig availability
have caused delays in the drilling programs on Boschhoek/
Boschkloof and Burnside, which are now expected to be completed
in the next four weeks.
* Exploration at the The Boschhoek/ Boschkloof and Burnside
projects is intended to upgraded the coal resource status
to that of Measured from the current Indicated and Inferred
Resource category. These CPRs will be issued as soon as
possible after completion of drilling activities
* Miranda intends to begin the mining right application
process on its three Glencoe properties (Uithoek, Boschhoek/
Boschkloof and Burnside) during the fourth quarter of 2008.
* Production remains on track to commence in the fourth
quarter of 2008 at the Sesikhona Kliprand project, subject
to the timely issue of the mining permit.
(1) The CPR was 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.
ENDS
ISSUED BY: FDBeachhead
Louise Brugman;
011 214 2415/ 083 504 1186/ louise.brugman@fd.com
Senzi Dlamini
011 214 2420 / 073 494 0030 / senzi.dlamini@fd.com
ON BEHALF OF: Miranda Minerals
CEO: Ron Nel
012 665 4200 |
